Course Title Intermediate Financial Accounting Course Code ACT 202
Course Instructor Md. Arif Hassan
E-mail hassan@daffodilvarsity.edu.bd Cell
Course Description:
Course Objectives:
Course Materials and Readings:
Text Book:
1. Intermediate Accounting, Latest edition - Kieso, Weygandt & Warfield Reference Books:
1. Intermediate Accounting, 15th edition - Stice, Stice & Skousen 2. Intermediate Accounting, 3rd edition - Spiceland, Sepe & Tomassini.
3. International Accounting Standards-IASC, U.K.
Lecture Schedules
Program: Bachelor of Business Administration (BBA) Department of Business Administration
Faculty of Business and Entrepreneurship
In this course, students will move beyond the fundamental accounting processes of their introductory courses and learn about measurement, valuation and presentation of all the elements of Financial Statements. This course expands upon the underlying framework and concepts of Financial Accounting in the context of how accounting fits into the overall business environment. The remainder of the course will cover the variety of accounting policy choices that are available to measure and value assets and the criteria used to make those choices. Topics examined include those related to corporate financial position, operating results, cash flows, and financial strength. Students will study more complex accounting systems and will be shown how the various accounting alternatives for recording financial transactions impact on the usefulness of the information provided for decision-making.
The objective of this course is to develop students understanding of accounting process and application of conceptual framework for the same and the accounting treatment relating to receivables, temporary investment, and business assets, current liabilities and contingencies.
Topic Chapter Name Topics to be covered Topic 01 Conceptual Framework
Underlying Financial Accounting
Need for conceptual framework; development of conceptual framework- basic objectives;
fundamental concepts and recognition and measurement concepts.
Topic 02 Depreciation, Depletion and impairment
Depreciation-Factors in Computing Depreciation;
Depreciation Methods; Depreciation and Income Taxes; Natural Resources; Acquisition Cost;
Depletion; fixed asset revaluation and the impairment.
Topic 03 Receivables Classification of receivables; Accounts Receivables: recognition and valuation of Accounts Receivables. Accounting for Uncollectible; Notes receivables: recognition and valuation of Notes Receivables. Presentation of accounts and notes receivable on the Balance Sheet; IAS-1.
Topic 04 Bank Reconciliation Statement
Meaning, needs, different methods, preparation of Reconciliation Statement.
Mid-Term Examination Topic 05 Income Statement and
related information
Income statement; format of the Income Statement; reporting irregular issues; special reporting issues; disclosure requirements as per Companies Act, 1994,disclosure requirements;
IAS-1.
Topic 06 Statement of Cash Flows Statement of Cash Flows: Purpose, contents and format of Statement of Cash Flows; classification of cash flows; steps in preparation of Statement of Cash Flows; sources of information; net cash flows from operating activities, investing activities and financing activities; direct versus indirect method;
usefulness of statement of Cash Flows; IAS-7.
Topic 07 Accounting for Inventory
Valuation and reporting different categories of inventory. (IAS # 2)
Topic 8 Current Liabilities and Contingencies
Nature of Current liabilities-accounts payable, notes payable, disclosure of current liabilities in the financial statements; Contingencies- accounting for contingent liabilities.
Final Examination
