the institute of chartered accountants of sri lanka

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THE INSTITUTE OF CHARTERED ACCOUNTANTS OF SRI LANKA

POSTGRADUATE DIPLOMA IN BUSINESS AND FINANCE - 2013/2014 Semester

I

Title of the Course

:

Principles of Financial and Cost Accounting Name of the Lecturer

: Nadeeshani Dissanayake B.Sc. accounting (sp), first class, ACA, ACMA, CPA (Aust)

Contact Hours

: 32

Pedagogical Methods:

• Class room teaching • Group works

Content of the Course: Session Topic Learning 1 2 3 4 5

Framework for preparation and presentation of financial statements Components of financial statements Elements of Financial Statements Underlying principles and qualitative characteristics Inventories Property Plant and Equipment and Depreciation Changes in Accounting Policies, Exceptional & Extraordinary items, Errors Contingencies, Events after the date of the statement of financial position Taxation including basic concept of deferred taxation Current and non-current assets Borrowing Costs Leases Foreign currency transactions Retirement benefits and share based payments Impairment

Due dates 29/ 08/ 2013 05/09/ 2013 12/09/2013 19/09/2013 Mid semester exam 26/09/2013

6

Preparation of financial statements of a listed company including Formats of financial statements Requirements of Companies Act and CSE/SEC Regulations

03/10/2013 7

Preparation of financial statements of a listed company including Formats of financial statements Requirements of Companies Act and CSE/SEC Regulations

10/10/2013 Mid semester exam 8

Preparation of financial statements of a listed company including Formats of financial statements Requirements of Companies Act and CSE/SEC Regulations

17/10/2013 9

Basic principles of Consolidation including treatment of associates and joint ventures

24/10/2013 Mid semester exam 10

Principles of Cost Accounting Cost Behaviour - Fixed, Variable and Semi variable costs Analysis of Overheads - direct and indirect

31/10/2013 11

Overhead allocation, apportionment and absorption Marginal Costing and product mix

07/11/2013 12 13 Revision and past paper discussion Revision and past paper discussion 14/11/2013 21/11/2013 Evaluation:

End-of-Semester Examination 70% Continuous Assessments 30% ( 3 quizzes, 10% each – MCQs and short answer questions)

End-of-Semester Examination:

Closed book 3-hour examination paper with 5 questions to be answered out of 6 questions.

Additional Readings:

Sri Lanka Accounting Standards Cost and Management accounting , Colin Drury, 7 th Edition

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