CHINHOYI UNIVERSITY OF TECHNOLOGY

FINANCIAL ACCOUNTING FOR BUSINESS (CUAC 111)

COURSE LECTURER: HOSHO. N 0773 115 890 nhosho@cut.ac.zw

Time Allocation: 4 hours per week, an additional hour will be reserved for tutorials
should they prove necessary.

1.0 Rationale
This course is designed to introduce students to the principles, concepts, and
applications of financial accounting. Students are exposed to the process by which
financial transactions and events are recorded, and will learn how to interpret
financial statements.
2.0 Purpose
This is the first and in some cases the only paper in Financial Accounting for
Business. The course introduces non-accounting students to accounting basics in
their first semester at the University. In some cases the course leads to subsequent
courses in accounting such as Management Accounting for Business.

3.0 Main Capabilities

Upon completion of the course, you will be able to:

 Explain financial accounting terminology and the recording process.

 Discuss and apply the basic principles of accounting, the accounting model, and
the accounting cycle.
 Prepare the full set of financial statements.
 Demonstrate and show how items such as assets, liabilities, share capital, etc.,
are reported in the financial statements.
 Carry out journal entries and adjustments.
 Prepare and analyze a trial balance.
 Analyze financial statements using ratio analysis.

4.0 Methods of Teaching

The lecturer will thoroughly discuss the sections in the course outline.
Comprehensive examples will be articulated to the students. Students will also
be asked to research in groups and present their answers during the lectures.

5.0 Student Assessments

1. Course work comprises 2 tests and 1 group presentation, with 30% weight of the
final mark. Questions in the tests will cover all the important aspects of the
course covered up to the time of the test. Aspects tested will not overlap.
2. The final exam will cover all the important aspects of the course and will carry
a 70% weight of the final mark.
3. The final mark will be the summation of the exam mark and the course work
mark.
4. University Grading System

Degree Class Range of Marks Description

1 75% - 100% Distinction
2.1 65% - 74%
2.2 60% - 64%
3 50% - 59%
S 41% - 49% Supplement and Review
F 0% - 40% Fail

6.0 CONTENT
6.1 Background to Accounting
 Evolution of Accounting
 Accounting Concepts
 Stakeholder analysis
 Accounting Information Needs
6.2 Development of the Profession
 Accounting Standards
 Conceptual framework
 Divisions of the Accounting functions
6.3 Accumulation and Information processing
 Books of Accounts
 Business Documents
 Ledger Accounting or Double Entry system
 Bookkeeping basics
 Accounting for Debtors
 Accounting for Assets
 Capital and Revenue Expenditures
6.4 Preparation of Financial Statements and Presentation of a Sole Trader
business
 Statement of Profit or loss and other Comprehensive Income
 Statement of Financial Position
 Statement of Changes in Equity
 Statement of Cashflows
 Accounting for Depreciation
 The Trial Balance
 Year-end adjustments
6.5 Financial Accounting for Other Business Units
 Partnerships
 Corporates
 Non Trading Organisations
 6.6 Interpretation of Accounting information
 Objectives of Accounting
 Ratio analysis
 Limitations of Ratio Analysis
RECOMMENDED TEXTS AND REFERENCES
1. Business Accounting Latest edition by Frankwood and Alan Sangster Pitman
Publications
2. Mastering Accounting Skills Latest edition by Margaret Nicholson Macmillan
Master series
3. Fundamental Accounting by Flynn, Koornhof and Bezuidehout, Juta and
Company Limited
4. Introduction to Accounting by F Musamba
5. Weygandt, J., Kieso, D., Kimmel P., Trenholm, B., & Kinnear, V. . Accounting
Principles. 5th. Canadian ed. . Mississauga, ON: John Wiley and Sons Canada,
Ltd., 2010.