Professional Documents
Culture Documents
Accounting plays a pivotal role for successful operation of business in the todays competitive environment. It provides a crucial service by supplying the information to the stake holders: customers, shareholders, government, creditors, and public at large. The accounting information enables users to make reasoned choice among alternative uses of scarce resources and informed judgment in the business and economic activities. The central role of Accounting todays society makes it interesting discipline of study, not just for those interested in a career of business, but also for anyone interested in the way that business influences and structure our lives in society. In Ethiopia, there is vast scope for many companies and the financial markets to flourish in the future. There is a great need for accounting professionals and hence the employment opportunity will be coming up. To effectively manage these endeavors, the country needs specialists who should possess sound knowledge of accounting and finance. Keeping in mind the future directions and the existing demand for accounting and finance functions, Ambo University has opened department of accounting since 1999 E.C. under the then Faculty of Business & Economics which is know College of Business and Economics after BPR has launched.
1.2.2.
The program aims at developing all-rounded and responsible citizens who are capable to preserve professionalism to enhance the well being of the country. This through developing graduates having adequate knowledge and skills that are capable to handle current and future accounting, auditing and finance practices in both private and public institutions. Besides it is the objective of the program to develop the competence and creativity of graduates to enable them establish and run their own professional firms and render public accounting services, undertake researches in the accounting and finance related themes and provide proactive and reactive consultancy and training services to clienteles. Specifically, the department intends to: enable the student to have profound understanding of accountancy and finance, relevant technology and ethics to exercise exemplary citizenship while rendering professional service undertake research to pinpoint and resolve practical problems and enhance the standards of profession support efforts of organizations in designing, adapting, and/or improving their accounting system through short term training and consultancy service and act in response to the countrys requirements for high level accountants, auditors, and financial managers
Section Two
any institutions: for profit and not for-profit, with the managerial and leadership skills
Assist planning process by preparing budgets, measuring/ analyzing performances vis-vis budgets and make predictions Plan for governmental revenues, public sector expenditures and play key role in public financial administration Develop projects, plan for acquisition of projects fund and their disbursements, develop schedules, design monitoring and evaluation schemes, and manage the whole process; Manage current assets, short-term credits, and long-term credits of a firm (in line with sound theories & concepts and through applying appropriate tools, techniques, and models);
Analyze and design short-term and long-term investment projects for all types of organizations. Assess the amount of tax to be paid by the taxpayers, prepare tax return files, determine the tax liabilities and record the tax collection systematically. Serve as specialists and experts in financial institutions (specially banks and insurance firms), execute professional services required in real estates and investment institutions and serve as security analysts in the available financial markets;
Participate in identification of accounting, auditing, and finance related problems and researching for pragmatic solutions. Render public accounting service. Work as instructors in Universities and Colleges with the accounting knowledge to be acquired.
The admission to both Regular and CEP program of the department of Accounting is accepted and processed in accordance with the requirement of the current (which has been endorsed since July, 2004) Ambo University Legislation-Article 39 to Article 45, where all regular students assigned by Ethiopian Ministry of Education (MOE) to Ambo University, College of Business and Economics have an equal right of being admitted to the program and .where there might also be possibility to admit a student based on the criteria proposed by the College Academic Commission,
Affirmative action, special admissions and transfers in accordance with the provision of the university legislation..
2.3.2.
Accounting:
Graduation Requirements
All of the following lists are compulsory in order to graduate in Bachelor of Art(BA) Degree in
Graduate are required to take 121 credit hours Minimum of 2.00 CGPA No F and/or Incomplete (I) grades in any subject. A successful completion of Senior Essay project work with a minimum grade C
2.3.3.
Degree Nomenclature
The Degree Nomenclature is Bachelor of Art Degree in Accounting with the Equivalent Amharic translation of; .
2.3.4.
This refers the maximum period (length of time) for which a particular batch of students admitted to a program stays in the University before graduation under normal circumstances. In accordance with guidelines issued by Ministry of Education and University Legislation, a batch admitted regular program stay on study for six semesters (where a semester is logically equivalent to 16 weeks learning period). Whereas a batch admitted to the CEP program stays for a maximum of ten semesters (which include three summer semesters) for weekend CEP program or evening program students and five summer semesters for summer program students.
existing curriculum, the department of Accounting and Finance has decided to undertake this curriculum review and proposed the new curriculum for approval.
3.2. The Proposed Modification to the current Curriculum 3.2.1. Justification for the modification
As Judy Mickimm (2007) noted, curriculum define the learning that is expected to take place during a course of study in terms of knowledge, skills and attitudes that leads to the production of graduates who meet the minimum standard of graduate profile, the external demand and market requirements. With respect to external demand and market requirements, an attempt was made by the committee for curriculum review to undertake the external need assessment. In addition, the need assessments made by different universities of the country have been benchmarked. Based on these it is generally concluded that there exist a gap. The assessments signify that the number and variety of the vacant posts (vacancies) for Accounting and Finance graduates are increasing. The divergence of skill requirements, job duties, etc for different vacancy positions still seems to urge the modification of the current curriculum (for example addition of some courses and modification of the syllabus for others). Moreover, the committee has received a number of comments/feedbacks from the previous graduates of the department who are at job on the relevance of the curriculum for their career success, career development and job opportunities(via mails, telephones and informal contacts). The feedback still, helped the committee to go for the modification. An attempt was also made to gather information from the students (both junior and perspective graduates), staffs and other professionals, which is also used as an input in the course of the review process. More interestingly, the department has gone through the internal evaluation of the curriculum by its council. The result of the evaluation process and need assessment suggest that the current curriculum has the following drawbacks/gaps and need substantial modifications: It fails to meet the minimum standards of the graduate profile and the objective of the program. It fails to clearly specify the main teaching, learning and assessment methods and fail to sufficiently provide an indication of the learning resources required(for example references, demonstration materials, etc) to support the effective delivery of the course. The majority of the syllabuses do not possess the features that are required by the policy of active learning and continuous assessment. It has unnecessary proliferation and duplication of topics/syllabus in different courses
The content and descriptions of the majority of the courses lack uniformity, quality, . consistency, relevance and in general not well updated in such a way that addresses the current issues and current market demands The courses which are very essential in order to satisfy the graduate profile are not incorporated and hence need to be added. Some existing courses which are not relevant or less relevant than excluded once for the program/graduate profile are found unimportant and need to be deleted from the curriculum. For some major courses the credit hours allotted are found highly insufficient to cover all the course contents and needs serious attention. Some courses which need practical sessions, demonstration and tutorial sessions are not assigned appropriate tutorial/lab hours. The curriculum does not clearly specify the course codes or numbering (for some courses) and some course titles needs modification.
The curriculum does not clearly specify course sequencing and the course pre-requisite requirements are not clearly and consistently designed. The committee has considered these as substantial problems and agreed to redesign the course sequencing and the prerequisites requirement.
Added Courses
Current
Cre dit Hrs
Code
Econ 221
Name Principles of Accounting I Principles of Accounting II Financial Accounting I Financial Accounting II Advanced Accounting Government and NFP Accounting Public Finance & Tax Accounting Accounting Information system
Code ACCT 211 ACCT 212 ACCT 311 ACCT 312 ACCT 411 ACCT 412 ACCT 324 ACCT 433
Name Principles of Accounting I Principles of Accounting I Financial Accounting I Financial Accounting II Advanced Accounting Government and NFP Accounting Public Finance & Taxation Accounting Information system
Code ACCT 211 ACCT 212 ACCT 311 ACCT 312 ACCT 411 ACCT 443 ACCT 324 ACCT 433
Table ---------, major changes to the previous curriculum; courses added, courses deleted, change in credit hours
4.3. The Resource Requirement 4.3.1. Teaching and Research staff Requirements (Composition)
In Addition to the administrative support staffs that might be requested by the department and assigned by the concerned body, the teaching and research staffs requirement to smoothly run the program shall be planned each year and determined by the department based on the work load allocation. The following table depicts human resources requirements with different professional mixes. Qualification PhD and above Masters Graduate assistants Percentage 25% 70% 5%
Desktop computer: for all professors and lecturers Accounting soft-wares: Peachtree, QuickBooks, etc: 1 Original CD each and other to be determined up on demand Supplies: chalk, writing pads, flipcharts, gowns, White board markers and erasers, pens and pencils and etcwill be availed as required by the department.
The appropriateness of mechanisms to ensure that assessment methods for each course in each program are balanced (e.g. between continuous and end of course, formative and summative), are matched to the learning outcomes and are applied appropriately. The extent of attrition rate, the dropout rate and the reason for these and the system of who to take action to minimize such events is developed. The graduation rate, the employment rate and the action to be taken to maximize such rates are developed. The links with employers to collect feedback on graduates is established. The academic staffs are supposed to actively participate in research and outreach activities. The number and nature of research projects are classified based on the thematic areas in the department. The organizations and individuals benefiting from outreach and community services are identified. The national and international links will be established with academic institutions. At the end of the program, students submit their project report; successfully defending it and passing an oral examination is an academic requirement.
N Course title o . Principles of Accounting II Financial Accounting I Financial Accounting II Advanced Accounting Auditing I Auditing II Cost and Management Accounting I Cost and Management Accounting II Financial Management I Financial Management II Government and NFP Accounting Financial Institutions and Market Accounting Information System Business research methods Mathematics for Management
Code Acct 212 Acct 311 Acct 312 Acct 411 Acct 413 Acct 414 Acct 313 Acct 314 Acct 321 Acct 322 Acct 443 Acct 423 Acct 434 Acct 431
Course title Principles of Accounting I Principles of Accounting II Financial Accounting I Financial Accounting II Financial Accounting II Auditing I Principles of Accounting II Cost and Management Accounting I Principles of Accounting II Financial Management I Principles of Accounting II Public Finance and Taxation Financial Management II Money, Banking Principles and Practices Introduction to computers and its application Financial Accounting I Statistics for Management Operations Research Operations Management Micro Economics II Communicative English skill Introduction to Management
Code Acct 211 Acct 212 Acct 311 Acct 312 Acct 312 Acct 413 Acct 212 Acct 313 Acct 212 Acct 321 Acct 212 Acct 324 Acct 322 Acct 326 CS 201 Acct 311 MGMT 242 MGMT 481 MGMT 472 Econ 222 EnLa 201 MGMT 211
MGMT 231 Operations Research MGMT 481 Micro Economics I Econ 221 Basic Writing skill EnLa 202 Business and Administrative MGMT Communication 212
5.4. List of course and distribution of courses across the semesters 5.4.1. List of courses
It is proposed for the new curriculum that the course requirements are classified in to three areas:
Major courses: are core courses mainly offered by the department Cross department/Supportive courses: are courses which are essential and complements
the core courses and mainly offered by sister departments in the College of Business and Economics
General foundation courses: are basic courses which aimed at developing the analytical,
communicative and writing skills, enhancing the professional ethics/behavior and the computer skills of the students.
Complete list of courses offered in the program Major courses No . Course Title 1 Principles of accounting I 2 Principles of accounting II 3 Financial Accounting I 4 Financial Accounting II 5 Cost and Management Accounting I 6 Cost and Management Accounting II 7 Financial Management I 8 Financial Management II 9 Risk Management and Insurance 10 Public Finance and Taxation 11 Business Research Methods 12 Money, Banking principles and practices 13 Financial Institutions and Markets 14 Advanced Accounting 15 Project Analysis and Management 16 Auditing I 17 Auditing II 18 Government and NFP Accounting 19 Accounting Information System 20 Research Project Course code Acct 211 Acct 212 Acct 311 Acct 312 Acct 313 Acct 314 Acct 321 Acct 322 Acct 332 Acct 324 Acct 344 Acct 326 Acct 423 Acct 411 Acct 433 Acct 413 Acct 414 Acct 443 Acct 434 Acct 432 Lab/Tuto Hrs 1 1 1 1
CRHRs 3 3 4 4 3 3 3 3 3 3 3 3 3 4 3 3 3 4 3 3
Remark
Cross department /support courses No . 1 2 3 4 5 Course Title Micro Economics I Micro Economics II Macro Economics II Mathematics for Management Statistics for Management Course code Econ 221 Econ 222 Econ 231 MGMT 231 MGMT 242 CRHR s 3 3 3 3 3 Lab/Tu t Hrs Remark
1 1
6 Introduction to Management MGMT 211 7 Administrative and Business Communication MGMT 212 Entrepreneurship and Small Business 8 Management MGMT 412 9 Principles of Marketing MKTM 201 10 Business Law Law depart 11 Operations Research MGMT 481 12 Business policy and Strategic Management MGMT 462 13 Operations Management MGMT 472 General Foundation courses 1 Communicative English Skills EnLa 201 2 Basic Writing Skills EnLa 202 3 Introduction to computer and its application Sc 201 4 Introduction to Logic Phil 201 5 General Psychology Psyc 201 6 Civics and Ethics CvEt 201
3 3 3 3 3 3 3 3 3 3 2 3 3 3
Table---------, List of Cross departmental and general foundation courses together with their credit hours
5.4.2. Distribution of courses across the semester-I (Regular Program) Year I Semester I
S.No. 1 2 3 4 5 6 Course Code
Acct 211 MGMT 231 MGMT 211 Sc 201 EnLa 201 Econ 221
Course title
Principles of accounting I
Total
Credit Hours 3 3 3 2 3 3 18
Year I Semester II
S.No. 1 2 3 4 5 6 7 Course Code
Acct 212 MGMT 242 Psyc 201 CvEt 201 EnLa 202 Phil 201 Econ 222
Course title
Principles of accounting II
Total
Credit Hours 3 3 3 3 3 3 3 21
Year II Semester I
S.No. 1 2 3 4 5 6 7 Course Code
Acct 311 Acct 313 Acct 321 MGMT 212 MKTM 201 Econ 231
Course title
Credit Hours 4 Cost and Management Accounting I 3 Financial Management I 3 Administrative and Business Communication 3 Principles of Marketing 3 Business Law 3 Macro Economics I 3 Total 22
Financial Accounting I
Year II Semester II
S.No. 1 2 3 4 5 6 7 Course Code
Acct 312 Acct 314 Acct 322 Acct 332 Acct 324 Acct 326 Acct 344
Course title
Financial Accounting II
Total
Credit Hours 4 3 3 3 3 3 3 22
Course title
Advanced Accounting
Total
Credit Hours 4 3 3 3 4 3 20
Course title
Research Project
Entrepreneurship and Small Management Auditing II Business Policy and Strategic Management
MGMT 472
Operations Management
Total
3 19
5.4.2. Distribution of courses across the semester-II (CEP Program) Year I Semester I
S.No. 1 2 3 4 5 Course Code
Acct 211 MGMT 231 MGMT 211 Sc 201 EnLa 201
Course title
Principles of accounting I
Total
Credit Hours 3 3 3 2 3 14
Year I Semester II
S.No. 1 2 3 4 5 Course Code
Acct 212 MGMT 242 EnLa 202 Phil 201 Econ 222
Course title
Principles of accounting II
Total
Credit Hours 3 3 3 3 3 15
Course title
General Psychology Micro Economics II Total
Credit Hours 3 3 6
Year II Semester I
S.No. 1 2 3 4 Course Code
Acct 311 Acct 313 Acct 321 MGMT 212
Course title
Credit Hours 4 Cost and Management Accounting I 3 Financial Management I 3 Administrative and Business Communication 3 Total 13
Financial Accounting I
Year II Semester II
S.No. 1 2 3 4 5 Course Code
Acct 312 Acct 314 Acct 322 Acct 324 Acct 332
Course title
Financial Accounting II
Total
Credit Hours 4 3 3 3 3 16
Course title
Civics and Ethics
Credit Hours 3 3 6
Course title
Advanced Accounting Project Analysis and Management Auditing I Money, Banking principles and Practice Operations Research
Total
Credit Hours 4 3 3 3 3 16
Course title
Business Research Methods
Total
Credit Hours 3 3 3 3 3 15
Course title
Credit Hours Business Policy and Strategic Management 3 Entrepreneurship and Small Business 3
Management
Total
Year IV Semester I
S.No. 1 2 3 4 Course Code Acct 423
Acct 432 Acct 432 MGMT 472
Total
Credit Hours 3 4 3 3 13
Section 6 Course Descriptions: the Content and specific course method for major courses
This section presents all the detail description with respect to the specific major courses in the program. The course content, methodologies relating to the teaching/learning process, the assessment methods, the required specific materials (including texts and other references) and grading skim for all 20 major courses are incorporated here.
Course Code Course Title Program Credit Hours Course Description
Acct 211 PRINCIPLES OF ACCOUNTING- I
BA Degree in Accounting 3 The first part of the course introduces accounting concepts, techniques and Generally Accepted Accounting Principles and their applications. Explain the conceptual foundation and features of accounting in real business with illustrations. Topics include: Studies on accounting evolution; importance of fundamental principles of accounting (GAAP) and procedures; the Accounting cycle for a merchandising and service business enterprises; introduction to deferrals and accruals; principles for accounting systems design; accounting for cash, temporary investments, receivables and short term payables. After the accomplishment of this course students will be able to; Define Accounting, Understand why accounting is said to be the language of business Go through and accomplish the accounting cycle understand the concept of accounting for merchandising enterprise understand the internal control over cash Note the accounting system for receivables, temporary investments and payables No pre-requisite Core
Course Objective
Lecture, Assignment, Case Study, Industry visit Continuous Assessment 70% and Final Exam 30%
COURSE CONTENT BASIC STRUCTURE OF ACCOUNTING CHAPTER-ONE: Accounting Principles and Practices 6:00 hrs 1.1. Evolution of Accounting 1.2. Accounting: The language of Business. 1.3. Characteristics of Accounting information & its users. 1.4. Profession of Accounting 1.5. Accounting principles and concepts. 1.6. The distinction between Book - keeping and Accounting 1.7. Business transactions and the Accounting Equation. 1.8. Accounting statements. CHAPTER-TWO: The Accounting Cycle. 9:00 hrs 2.1. The use of accounts for recording transactions. 2.2. Rules of Debits and Credits. 2.3. Classifications of accounts. 2.4. Sequence and numbering of ledger accounts. 2.5. Recording transactions in a journal 2.6. Posting the journal. 2.7. The trial balance, its uses and limitations. 2.8. Adjustments 2.9. Worksheet for financial statements 2.10. Preparation of financial statements. 2.11. Journalizing and posting adjusting and closing entries. CHAPTER-THREE: Accounting for a Merchandising Enterprise. 8:00 hrs 3.1. Purchasing and selling procedures. 3.2. Accounting for purchases. 3.3. Accounting for sales 3.4. Trade discounts, credit terms and cash discounts, transportation costs and sales taxes. 3.5. Periodic reporting 3.6. Merchandise inventory adjustments. 3.7. Adjustments for Deferrals and Accruals. 3.8. Worksheet for a merchandising enterprise 3.9. Financial statements for a merchandising enterprise. 3.10. Completion of the accounting cycle. 3.11. Journalizing and posting reversing entries. CHAPTER-FOUR: ACCOUNTING SYSTEMS AND INTERNAL CONTROL
3:00hrs
4.1. Principles of accounting systems. 4.2. Accounting system installation and revision
4.3. Internal control. 4.4. Guide lines to strong internal control CHAPTER-FIVE: CASH
6:00hrs
5.1. Control over cash. 5.2. Internal control on cash receipts. 5.3. Internal control of cash payments 5.4. The voucher system. 5.5. Purchase discount 5.6. Petty cash and other cash funds. CHAPTER-SIX: Receivables, Temporary Investments, and Payables 6.1. Classification of receivables and payables. 6.2. Determination of interest and due date. 6.3. Notes receivable and interest income. 6.4. Discounting notes receivable. 6.5. Accounting for Uncollectible. 6.6. Temporary investments. 6.7. Notes payables. 6.8. Discounting notes payable. 6.9. Liability for leases. 6.10. Contingent liabilities
7hrs
TEXT BOOK: Fess and Warren, Accounting Principles. South Western Publishing Company, 16th. REFERENCES: 1. Meigs Walter B.: Accounting, The basis for Business Decisions, 6th ed.; McGraw Hill international Book Co. 2. Kermit D. Larsen: Fundamental Accounting Principles: 12th ed.; Richard Irwin Inc., 1990. 3. Carison- Heintz- Carson: College Accounting: 11th ed. 4. Hermanson,Edwards and Salmon son : Accounting Principles , 4th-7th ed.Richard D.Irwin Inc.1989 5. Weygandt: Accounting Principles: 1999
Acct 212
PRINCIPLES OF ACCOUNTING- II
BA Degree in Accounting 3 This part deals with further application of fundamental accounting principles on elements of financial statements of business enterprises, which includes accounting for: Merchandise inventory, plant assets, Natural resource and intangible assets, payroll Accounting, Accounting for partnerships and corporations, introduction to accounting for manufacturing enterprises and Accounting for branches and Home office. Accounting for Partnership businesses is discussed by referring to the provisions of the commercial code of Ethiopia, (1960): After completion of this course, students are expected to: Describe accounting for inventories, noncurrent assets and payroll related liabilities; Distinguish and illustrate the basic accounting concepts and principles; Explain how managerial accounting concepts and principles are applied to manufacturing firms; Describe and illustrate the accounting for departments and branches. Furthermore, this course makes students eligible for subsequent higher accounting courses.
Course Objective
Prerequisites Status of the Course Teaching and Learning Methods Evaluation Scheme
Acct 211
Core Lecture, Assignment, Case Study, Industry visit Continuous Assessment 70% and Final Exam 30%
1.1. Importance of inventories 1.2. Inventory system and valuation methods 1.2.1. Determining actual quantity 1.2.2. Determining cost of inventory under periodic and perpetual system
1.3. Departures from cost valuation 1.4. Estimation of cost of inventory Chapter-Two: Plant assets and Intangible assets
10 hrs
2.1. Nature of plant assets 2.2. Acquisition cost of plant assets 2.3. Nature of and accounting for depreciation 2.4. Changes in estimates and revision of periodic depreciation 2.5. Capital and revenue expenditure 2.6. Disposal of plant asset 2.7. Depletion of natural resources 2.8. Intangible assets and amortization 2.9. Reporting depreciation expense plant assets, intangible assets in the financial statements Chapter-Three: Payroll accounting (a reading material to be given) 3 hrs 3.1. Definition and importance 3.2. Payroll records and components 3.3. The Ethiopian payroll system 3.4. Nature of earnings 3.5. Nature of deductions 3.6. Preparation of payroll register Chapter-Four: Accounting concepts and principles 4.1. Historical development and influential organizations 4.2. Basic accounting concepts and principles Chapter- Five: Accounting for a partnership 5.1. Characteristics 5.2. Formation 5.3. Division of net income or net loss 5.4. Dissolution 5.5. Liquidation Chapter-Six: Corporations - Organization and Operation 6.1. Characteristics 6.2. Classes of stock 6.3. Issuing capital stock 6.4. Treasury stock 6.5. Equity per share 6.6. Organization costs Chapter-Seven: Introduction to Manufacturing and cost systems
2 hrs
6hrs
4hrs
2 hrs
7.1. Concepts of cost and expense 7.2. Inventories of manufacturing enterprise 7.3. General and cost accounting systems for manufacturing operations 7.4. Accounting for job order costing system 7.5. Accounting for process costing system Chapter-Eight: Departments and Branches 3 hrs 8.1. Centralized and decentralized operation 8.2. Types of decentralized operations
8.3. Responsibility accounting for 8.4. Cost centers 8.5. Profit centers 8.6. Investment centers 8.7. Branch accounting (under decentralized system) 8.7.1. Underlying principles of decentralized branch accounting 8.7.2. Illustration of decentralized branch accounting 8.8. Financial statement for Head Office and Branch Basic Text Book: Fees and Warren, Accounting principles; Southwestern Publishing Company, 16th ed, USA.
REFERENCE BOOKS 1. 2. 3. 4. 5. Fees and Warren; Principles of Accounting, 11th - 17th ed., USA Kermite D. Larson, Fundamentals of Accounting Principles,12th ed., USA Meigs and Meigs, Accounting: The basis for business decisions,3rd - 8th ed., USA Keith and Stephens, Accounting principles, 2nd ed. 1986, USA Harmanson, Edwardsand Maher, 5th ed., 1992 USA.
COURSE DESCRIPTION
The course deals with basic concepts in Cost and Management accounting. It especially centres on product costing. It deals with cost accumulation and cost assignment to products. The course also let the learners with the use of such cost accounting information for managerial functions of planning, controlling and decision-making. After completing this course, students will be able to:
Differentiate between Management Accounting, and Financial Accounting. The student will also be able to identify the importance of Cost Accounting to Managerial and Financial Accounting. Describe the different cost terminologies and the basis of the taxonomy of these cost terms. Describe basic product costing systems: Job order and process costing systems. Describe the accounting treatment for spoilage, rework, and scrap Describe joint cost allocation, and by product costing. Acct 212 Core Lecture ,Assignment, Case Study, Industry visit Continuous Assessment -70% and Final Exam-30%
Prerequisites Status of the Course Teaching and Learning Methods Evaluation Scheme
COURSE CONTENTS
(3 hours)
Definition of Cost accounting and Managements accounting. Management accounting Vs Financial accounting Relationship of cost accounting with financial accounting and management accounting.
Features of job order costing Cost accumulation in job order costing Measuring Direct Materials Job Cost Sheet Measuring Direct Labor Application of Manufacturing Overhead Illustration on job order costing 3.2 Process costing Features of process costing Cost accumulation in process costing Equivalent Units Weighted average costing method First in- First out costing method Standard Costing method of process costing Illustration on process costing
Reference Books: 1. 2. 3. 4. 5. 6. Cost Accounting, Managerial Emphasis, Horengren, 10th Or 9th Edition Introduction to Management Accounting, Horngren, 12th Edition Cost Accounting, Theory And Applications, Fischer Frank Cost and Management Accounting, Samir Kumar Advanced Management Accounting, 3rd ed., Robert S. Kaplan Management Accounting Principles and application, Hugh Coombs, David,
Hobbs, and Ellis Jenkins 7. Management Accounting, third revised edition, I.M. Pandey
BA Degree in Accounting 3 This course gives more emphasis on the role of cost accounting in the managerial decisions of manufacturing organization. The course introduces the relevant costs that are considered in decision making and piecing of products manufactured. Other topics included are the master budget and flexible budget,
COURSE DESCRIPTION
At the end of this course, students will be able to: o o o o o Explain the importance of cost- volume- profit analysis; Describe the benefit of budgeting and its application; Prepare a master budget; Apply, relevant costing to different decisions; Explain the methods of pricing.
Prerequisites Status of the Course Teaching and Learning Methods Evaluation Scheme
Cost & Management Accounting I Core Lecture ,Assignment, Case Study, Industry visit Continuous Assessment -70% and Final Exam-30%
CVP assumptions and Terminology. Essential of CVP analysis The breakeven point - Equation method - Contribution margin method - Graph method CVP analysis and making decisions. Cost planning and CVP CVP analysis is service Nonprofit organizations
The meaning of relevance Illustration of relevance choosing output levels Make versus buy Special order decisions Product Mix decisions Scarce resource decisions
Meeting Days_______________ Time_____________ Room________ Name ________________ Consultation Dates_________________ Time______________ Addresses: Office____________ Phone_____________ Mail_______
COURSE DESCRIPTION
This courses gives emphasis to issues such as; concept of Money and the functions, roles and defects of money; the banking systems(evolution, operation, types, roles and scope); the supply of money and monetary policy; the banking practices and procedures. The course also acquaints students with the knowledge of monetary policies and foreign currency management, exchange rates and the factors that affect the exchange rates. In addition, the course deals with the credit management in commercial banks and the legal framework within which the financial systems (specially banking system) in Ethiopia operates.
COURSE OBJECTIV ES
Up on the completion of the course the student will attain the following objectives: Define money, understand its functions/roles and its defects
Understand the creation of money and money supply theory Understand the monetary policy Analyze the relationship between monetary policy and inflation, interest rates and exchange rates Understand the history of banking system and the roles of banks Differentiate the banking institutions from other financial institutions
Distinguish between commercial banks and central banks Describe the development of banking systems in Ethiopia Explain the Banking services in general and banking services in Ethiopia Understand and appreciate innovative banking and new financial services Explain the laws and regulation of banking system in Ethiopia Prerequisites Status of the Course Teaching and Learning Methods Acct 212 Major
Lecture/Class room contact ,Assignment/tutorial, Case Study, Term Papers (In group or individual), Visiting banks or other financial institutions /acquiring practical experience from banks is must Continuous Assessment -60% ( Tests, Quizzes, Assignments and term papers, practical visit reports) and Final Exam-40%
Assessment
COURSE CONTENTS
(10 Hrs)
1.2.The Historical background/evolution of money 1.3.The functions/significance of money 1.4.Types/classification of money 1.5.The defects of money 1.6.The characteristics of good money
Chapter Two: The Supply of Money and Monetary Policy (13 Hrs)
2.1. Determinants of Demand and supply of money 2.2. The creation of Money and money supply theory 2.3. The monetary Policy and related issues 2.3.1. Introduction 2.3.2. The goal of monetary policy 2.3.3. The tool of monetary policy 2.3.4. Bank reserves: bases and other measures of reserve 2.4. Inflations and deflation 2.5. Interest rates and exchange rates
Chapter Three: Overview of Banking System and its role in the Economy
(13 Hrs) 3.1. A sketch of Banking History 3.2. Differentiating Banks from Other Financial Institutions 3.3. Types of banks and their functions 3.4. The Role of Banking System in the economy 3.4.1. The role of Commercial Banks 3.4.2. The roles Central Banks/National Banks 3.5. The Assets and Liabilities of Banks 3.6. The bank Assets and Liabilities Management: Traditional Vs Modern Approaches 3.7. The Bank operations and Services
3.7.1. The Principles of banking operations 3.7.2. The banking practices and Service Deposit, saving mobilization and transaction services Lending services and credit system Trade and international Banking services Other Banking services
(12 Hrs)
5.6. E-Banking, Call Center banking, SMS Banking and Universal Banking 5.7. The ATM Banking: history, mechanisms of ATM operation, and the safety issues
Text Books: Thomas Mayor, James S. Dusenberry & Robert Z.Aliber, Money, Banking and the Economy, W.W. Norton &Company, New York. London, 1981 and Tadesse kenea, Banking and Finance, Ambo University, 2004 Additional references: 1. H R Machiraju , Modern Commercial banking Vikas Publishing House Pvt Ltd, 2003 2. Saunders, Anthony and Walter Ingo, Universal Banking in the United States, Oxford university Press, New York, 1984 3. Tobin, James, "Commercial Banks and Creation of Money", Irwin Inc. 4. Fraser, Donald, R.Gup, Benton, James W. Commercial Banking ,West Publishing Company, New Delhi, 1995 5. National Bank Of Ethiopia, Directives on Banking Businesses, insurance Businesses and micro Finance businesses, found on web sites of national Bank of Ethiopia(www.nbe.gov.et) 6. EFDRE's Proclamations on Banking Businesses, Establishment of NBE, Insurance Business and Microfinance, Banking Regulations, Other Provisions 7. All other books on Financial Institutions, banking and money 8. Web sites of All commercial Banks in Ethiopia
Meeting Days_______________ Time_____________ Room________ Name ________________ Consultation Dates_________________ Time______________ Addresses: Office____________ Phone_____________ Mail_______
COURSE DESCRIPTION
The study of Public Finance is closely related to the activities of the Public sector including government organs and commercial undertakings. The course addresses the issues relating to the importance of Public Finance in the Economy, the elements of public finance, budget functions and procedures , fiscal Policy and its roles, fiscal federalism and how fiscal functions & revenue raising powers be divided among the level of government(Ethiopian context). The course further focuses on acquainting the learners with the knowledge of the Tax systems & principles of taxation, different types of taxes chosen together with their incidences, tax assessments & computations and tax planning & tax evasion. In addition the course covers the tax regulations and Administration (Ethiopian Experience).
Up on the completion of the course the student will achieve the following objectives:
Understand the nature of goods and services produced and supplied in the economy and how their production be efficiently financed Define public finance and explain its scope Differentiate between public finance and private finance Know the concept of fiscal policy and its role in the economic development Understand and evaluate tools of Public finance, budget systems, policies and its financing Understand and analyze the FDREs fiscal federalism, revenue and finance systems including budget transfers/allocation, revenue sharing and deficit financing Understand the taxation systems, principles(canons) and policies in general Determine/compute different tax revenues from various types of taxes Understand and analyze the tax systems, laws, regulations and tax administrations in Ethiopia
Lecture/Class room contact ,Assignment/tutorial, Case Study, Term Papers (In group or individual) Continuous Assessment -70% ( Tests, Quizzes, Assignments and term papers) and Final Exam-30%
Assessment
COURSE CONTENTS
Chapter One: Chapter One: Sketching the background: An Introduction to Public Finance and Taxation (10 Hrs)
1.7.The Nature and classification of goods and services: Private Vs Public 1.8.The meaning and scope of Public Finance goods
1.9.Private Vs Public finance 1.10. The role/function of modern government: justifying the need for public finance 1.11. Introduction to fiscal Policy and its role in economic development
Chapter Two: Budget, its financing and the Overview of Fiscal Federalism (13 Hrs)
2.1. Introduction: Budget meaning and its Function 2.2. Budget classifications and Approaches to Public Budgeting (Self study) 2.3. Overview of Intergovernmental Fiscal Relations in Ethiopia (Fiscal Federalism) 2.3.1. Introduction 2.3.2. Expenditure Responsibilities and Revenue sharing in Ethiopia. 2.3.3. Fiscal imbalances in Ethiopia 2.3.4. Correcting the imbalances: Budget transfers in Ethiopia 2.4. The budget Process in Ethiopia 2.5. Budget deficit and its financing
(13 Hrs)
Chapter Four: Tax regulations, Several Types of taxes and their Administration: Current Ethiopian Experience (12 Hrs)
4.1. An Introduction
Category of tax Payers Tax payment and return filing systems in Ethiopia Penalties for non-compliance
References:
1. Musgrave, R. & Musgrave, P. (1989). Public Finance in Theory and Practice. 5th ed., Singapore: McGraw-Hill. 2. Solomon Negussie, (2008), Fiscal Federalism in the Ethiopian Ethnic-based Federal System, Revised Edition, Netherlands: Wolf Legal Publisher (WLP) 3. Backhaus, J. & Wagner, R. (2004). Handbook of Public Finance. Boston: Kluwer Academic Publishers. 4. 5. Bhatia, H. (2003). Public Finance. New Delhi: Vikas Publishing Company. Bhatia, H. (2006). Public Finance. 25th Edition, New Delhi: Vikas Publishing Company.
6. Gupta, A. (2001). Public Finance and Taxation. Anmol Publications Pvt. Ltd., New Delhi. 7. Holcombe, Randall G. (1996). Public finance: Government revenues and expenditures in the United States economy. Minneapolis/St. Paul, MN: West Publishing. 8. Holcombe, Randall G. (2004). Taxation, Production, and Redistribution. In Backhaus, J. & Wagner, R. Handbook of Public Finance. Boston: Kluwer Academic Publishers.
9. Hyman, David N. (2005). Public finance: A contemporary application of theory to policy. 8th ed., USA: South-Western, Thomson Learning. 10. Parameswaran, R. (2005). Public Finance and Taxation: A Study Material. Addis Ababa University.
Acct 332 Risk Management and Insurance BA Degree in Accounting 3 Risk affects every aspect of an organization. The effects of risk are not confined within any predictable boundaries; a single event can easily influence several areas of an organization at once, producing consequences far beyond the immediate impact. The pervasiveness and complexity of risk presents strong challenges to managers, one of the most important being the coordination of risk management across areas within the organization. It deals with: the nature and management of pure risks, insurance and reinsurance; risk concepts, classification of risks, management of pure risks through various risk handling tools, industrial safety, general principles of insurance and major classes of insurance, reinsurance and development & regulation of the insurance industry in Ethiopia.
Course Objective
After the completion this course the students will be able to: Know basic concepts of risk Explain the basic classification of risk Understand insurance Industry in Ethiopia Explain the nature and application of reinsurance The course is intended to enable students to identify and measure business loss exposures. It also discusses how to select among the major tools of risk management and quip students with ways of measuring, if not eliminating, exposures to loss or risk and the ability to analyze various class of insurance contracts
No pre-requisite Core Lecture, Assignment, Case Study, Industry visit Continuous Assessment 70% and Final Exam 30%
Prerequisites Status of the Course Teaching and Learning Methods Evaluation Scheme
COURSE OUTLINE CHAPTER ONE RISK AND RELATED TOPICS 1.1. Risk defined 1.2. Risk Vs uncertainty 1.3. Risk and probability 1.4. Risk, peril and hazard 1.5. Classification of risk CHAPTER TWO-THE RISK MANAGEMENT 2.1. Risk management defined 2.2. Objectives of risk management 2.3. Steps in risk management process 2.3.1. Risk identification 2.3.2. Risk measurement 2.3.3. Selecting the appropriate tools of risk management 2.3.4. Risk administration CHAPTER THREE INSURANCE 3.1. Insurance Defined 3.2. Basic characteristics of insurance 3.3. Fundamentals of insurable risk 3.4. Insurance and gambling compared 3.5. Insurance and Speculation compared. 3.6. Benefits and costs of insurance 3.6.1 Benefits of insurance to the society 3.6.2 Cost of insurance to society CHAPTER FOUR- LEGAL PRINCIPLE OF INSURACE CONTRACT 4.1. Principle of indemnity 4.2. Principle of insurable interest (6 hours) (6 hours) (9 hours) (3 hours)
4.3. Principle of subrogation 4.4. Principle of utmost good faith 4.5. Principle of contribution 4.6. Doctrine of proximate cause CHAPTER FIVE-LIFE AND HEALTH INSURANCE (12 hours) 5.1.1 Underwriting life insurance 5.1.2. Types of life insurance polices 5.1.3. Premium determination 5.1.4. Workers compensation insurance 5.1.5. Personal accident insurance CHAPTER SIX- NON-LIFE INSURANCE 6.1.1. Motor insurance 6.1.2. Burglary and house keeping insurance 6.1.3. Fire and lighting insurance 6.1.4. Marine insurance 6.1.5. Aviation insurance 6.1.6. Liability insurance 6.1.7. Pecuniary insurance 6.1.8. Fidelity guarantee insurance 6.1.9. Engineering insurance CHAPTER SEVEN-RE-INSURANCE 7.1. Meaning of Re-insurance 7.2. Reason for Re-insurance 7.3. Types of Re-insurance CHAPTER EIGHT-THE INSURANCE BUSINESS IN ETHIOPIA (6 hours) 8.1. Development of insurance in Ethiopia 8.2. Regulation of insurance companies 8.2.1. Proclamation No.68/1975 (3 hours) (12 hours)
Text:
Teklegiorgis Assefa (2004), Risk Management and Insurance, Mega Printing PLC, Mekelle university. Hailu zeleke, Risk and insurance note, lecturer, AAU.
References:
George E. Rejda, principles of Risk Management and Insurance, 6th ed. 1998,Addison-wesley. C.Arthur Williams jr. and Richard M. Heins. Risk Management and Insurance , 4th ed, 1981 Mc Graw-Hill Joel Bessis, Risk management in Banking, 2nd, 1998, wiley. Hailu Zeleke, Insurance in Ethiopia, AAU.
Acct 413 Auditing- I BA Degree in Accounting 3 This course is designed in such a way that student can be able to explore the underlying theories, procedures and practices surrounding auditors responsibilities in examining and reporting about financial statements of business enterprises. The course basically deals with the way how evidences are collected so as to be used in the process of evaluating whether or not financial statements present fairly the financial position, operational result and cash flows of the company. Moreover, the course also deals with the process of collecting and evaluating evidences to determine whether business enterprise safeguards assets, maintain data integrity, achieves organizational goals effectively and
consumes resources efficiently. Course Objective Upon completion of this course, the student will be able to:
Understand the purpose and scope of auditing Identify and differentiate the types of audits and auditors Understand and appreciate code of professional conducts for auditors Describe auditing principles and tools Describe the basics of internal control Differentiate internal auditing from external audit Distinguish the different types of audit reports, their parts, and the accompanying audit opinion
Prerequisites Status of the Course Teaching and Learning Methods Evaluation Scheme Course Content Chapter I: Introduction 1.1. 1.2. 1.3
1. 4.
Discuss about fraud in auditing FINANCIAL ACCOUNTING-II Core Lecture, Assignment, Case Study, Industry visit Continuous Assessment 70% and Final Exam 30%
7hrs
Historical evolution and development of auditing Definitions and terminology Difference between Auditing and Accounting The nature, purpose and scope of audit Types of audits and auditors 7hrs
1.5.
Chapter II: The Auditing Profession 2.1. 2.2. 2.3. 2.4. 2.5. 2.6. Professional ethics Characteristics of a profession Rules of professional conduct
Due care (Skill, diligence and expeditiousness) Independence, objectivity and integrity The professional duty of confidentiality
Legal liability and responsibility Truth and fairness Materiality and the auditor Appointment, remuneration and removal of auditors Client acceptance procedures Engagement letters
Chapter III: Auditing Principles and Tools 8hrs 3.1. 3.2. 3.3. 3.4. 3.5. 3.6. 3.7. Auditing principles and standards Auditing procedures and techniques Audit approaches Financial statement assertions Audit objectives Audit planning Audit program 4hr
Chapter IV: Internal Control 4.1. 4.2. 4.3 4.3. Definition of internal control
Type and Principles of internal control system Components of internal control Internal control and external audits 5 hrs
Chapter V: Audit Evidence 5.1 Nature of Evidence 5.2 Audit Evidence decision 5.3 Persuasiveness of Evidence 5.4 Types of Audit Evidence 5.5 Types of analytical procedure 5.6 Audit working papers Chapter VI: Audit Report 6.1. 6.2. Types of audit reports Part of audit reports
6hrs
Audit opinion The standard unqualified audit report Departure from standard unqualified audit report
Text: Arens & Loebbecke, Auditing, An Integrated Approach 7th ed. Prentice Hall Intl:
Konrath, Larry, Auditing Concepts & Applications: A Risk Analysis Approach, 4th ed. South western College USA, 1999 Guy, Dan M. etal, Auditing, 4th ed. The Dryden Press, Florida Meigs, Whittinton, Peny and Meigs, Principles of Auditing, 9th ed. Irwin Publishing co.1989 USA. David N.Richiute, Auditing Concepts and Standards. South -Western Publishing co.1982 USA. Willingtom and Carmichael, Auditing Concepts and Methods. 2nd ed. 1975 USA. Whittington & Pany, Principles of Auditing, 11th edition, Irwin, 1995 Shekhar, Auditing, Vikas Publishing House, 2003 Walter B. Meigs & etal., Principles of Auditing, 9th edition, 1989 Johannes Kinfu, Auditing-Introduction to Principles and Practices, FBE, AAU D.R. Carmichael & etal, Auditing Concepts and Methods, 5th edition, 1989 Alvin A. Arens & etal., Auditing an Integrated Approach, 5th edition, 1991 ACCA Text Books on Audit Framework and Audit Assurance and Internal
JOURNALS, PERIODICALS AND MAGAZINES 1. 2. 3. 4. 5. 6. 7. Journal of Accounting Research, University of Chicago Journal of accountancy AICPA edition Interned auditing, Warren, Grham, & Lammont Publication The Accounting Review The Ethiopian Journal of Auditing and Accountancy Journal on Accounting and Public Policy Various Proclamations, orders and other legal provisions that affects Accounting and auditing practices in Ethiopia.
Acct 414 Auditing- II BA Degree in Accounting 3 This course is the second course in auditing which is designed to enable students to practically apply audit and its underlying concept to provide opinion of the financial statements. The courses enable learner to design appropriate audit strategies to gather and evaluate information in relation to financial statement assertions and ancillary audit engagements. The course also introduces IT auditing, operational auditing and government auditing. In addition it will provide to the students of accounting to study and comment on the development of audit profession in Ethiopia and current practices and developments in their profession globally. The course includes audit process and consideration in designing an audit, audit of financial statements, EDP audit, and audit in Ethiopia and current issues and practice in the auditing. The aim of this course is to ensure that students can exercise judgment and apply techniques in the analysis of matters to the provision of audit of financial statement and other audits. In addition, students can understand & comment on
Course Objective
the profession of auditing in Ethiopia and current practice and development in the profession globally. Upon completion of this course students are able to: Prerequisites Status of the Course Teaching and Learning Methods Evaluation Scheme Acct 413 Core Lecture, Assignment, Case Study, Industry visit Continuous Assessment 70% and Final Exam 30% Demonstrate ability to conduct audit within appropriate professional, ethical and statutory frame works. Identify and describe the work required to meet the objective of audit assignments. Gather and evaluate audit evidences that satisfy the audit objectives Evaluate findings and results of audit and draft, internal control memorandum ( ICM) and suitable reports on assignment Assesses the development of audit profession in Ethiopian and comment on its current status Understand current issues and developments relating to auditing and related services Identify and understand national and international professional bodies that have been contributed for the development of accounting audit Understand EDP auditing, Operational auditing and management auditing
8hrs
1.4 Audit Sampling for Test of Detail Balances 1.4.1 1.4.2 Application of Non Statistical Audit Sampling Methods Application of Statistical Audit Sampling
15hrs
2.1.1. Audit of cash and cash equivalent 2.1.2. Audit of Receivables 2.1.3. Audit of Inventories & cost of goods sold 2.1.4. Audit of other current assets 2.2. Audit of Non current asset 2.2.1. Audit of plant asset & depression 2.2.2. Audit of Intangible assets 2.3. Audit of liabilities 2.3.1. Audit of A/P and purchase 2.3.2. Audit of other liabilities 2.4. Audit of capital (owners equity) 2.5 2.6 2.7 Audit of Revenue accounts Audit of Expense accounts Completing the audit process 4hrs
3.1. Manual Accounting System Vs Electronic Data processing (EDP) 3.2 Meaning and objectives of IT audit 3.3 Internal control in EDP 3.4 Areas and growth of IT auditing 3.5. How the objective audit change with the change in data processing method CHAPTER 4: INTERNAL, OPERATIONAL AND MANAGEMENT AUDITING 4hrs 4.1 Internal Financial Auditing 4.2 Operational Auditing 4.3 Management Auditing
3hrs
5.2.1. Role of office of auditors General Powers, duties and responsibilities 5.2.2. Role of audit Service Corporation powers, duties and responsibilities 5.2.3. Role of Inspection department, Ministry of Finance and Inland Revenue 5.2.4. Role of private auditors 5.3. Special proclamation, directives and orders issued by the government related to audit practice in Ethiopia 5.3.1Commercial code of Ethiopia 1960 5.3.2. Proclamation 163/1977 and 25/1992 Text Arens & Loebbecke, Auditing, An Integrated Approach 7th ed. Prentice Hall Intl: References Konrath, Larry, Auditing Concepts & Applications: A Risk Analysis Approach, 4th ed. south western College USA, 1999 Guy, Dan M. etal, Auditing, 4th Ed the Dryden Press, Florida Meigs, Whittington, Penny and Meigs, Principles of Auditing, 9th ed. Irwin Publishing Co1989 USA David N.Richiute, Auditing Concepts and Standards South -Western Publishing co.1982 USA Whittington and Carmichael, Auditing Concepts and Methods 2nd ed. 1975 USA` Whittington & Pany, Principles of Auditing, 11th edition, Irwin, 1995 Shekhar, Auditing, Vikas Publishing House, 2003 Walter B. Meigs & etal., Principles of Auditing, 9th edition, 1989 Johannes Kinfu, Auditing-Introduction to Principles and Practices, FBE, AAU D.R. Carmichael & etal, Auditing Concepts and Methods, 5th edition, 1989 Alvin A. Arens & etal., Auditing an Integrated Approach, 5th edition, 1991 ACCA Text Books on Audit Framework and Audit Assurance and Internal Review Commercial code of Ethiopia Income tax proclamation
Useful
Journals & periodicals: Journal of Ethiopian accounting society Journal of AICPA Accounting Journals Journal of the Federal Auditors General Journal & periodicals of FIRA
Useful websites http://www.aicpa.org, American institute of Certified public accountants http://www.acca.global.com, chartered certified Accountants Association (UK) http://www.ifac.org, International Federation of Accountants http://www.theiia.org, Institute of Internal auditors Accounting Information System Acct 434
Meeting Days_______________ Time_____________ Room________ Instructors Information Name ________________ Consultation Dates_________________ Time______________ Addresses: Office____________ Phone_____________ Mail_______
COURSE DESCRIPTION
To be successful in pursuing an accounting, any accounting professional must today possess a basic knowledge of computer based information systems and understand the role of information systems in contemporary business organizations. The course is, therefore, designed to equip students with the knowledge, techniques and methodologies used to design and develop information system in general and Accounting Information System in particular. It discusses about the major business processes and the basic transaction cycles, collection and processing of data about the business activities, fundamental concepts of database systems and AIS database modeling techniques, an over view of system analysis and development and an overview of e-business & e commerce.
Analyze, document and evaluate business activities performed by firms within major transaction Develop skill in Documenting Accounting Information System and skills in accounting software packages Develop working knowledge about database applications and models Understand the model, techniques, and tools for Accounting Information System Analysis and design Understand the concept of E-Business and E-commerce
Lecture/Class room contact , Lab sessions, Assignment/tutorial, Case Study, Term Papers (In group or individual)
Assessment
Continuous Assessment -70% ( tests, quizzes, assignments and term papers) and Final Exam-30%
COURSE CONTENTS
Chapter Two: Overview of Business Process and Organizing AIS Data (10 HRS)
2.1. Business Process and Events 2.2. Transaction Processing: Documents and Procedures - Organizing data - Types of files and data 2.3. Information output: Providing Information for Decision making
Chapter Three: Database Systems and the Relational Databases (12 HRS)
3.1. Database systems 3.2. Database Design Process 3.3. The REA data model 3.4. Database System and the future of Accounting
(12 HRS)
4.1. Introduction to System Development and Documentation Tools and Techniques 4.2. Introduction to system development process: System development life cycle 4.3. Accounting Information System Strategies 4.4. Business Process Re-Engineering (BPR): Design and Implementation
Chapter Five: Transaction Cycle and Accounting Application (Self study; 2HRS)
5.1. The revenue Cycle 5.2 The Expenditure Cycle 5.3. The production Cycle 5.4. The Payroll Cycle 5.5. General ledger and Reporting Systems
(6 HRS)
Text Book: Romney and Steinbast, 2008, Accounting Information System, 11th Edition, Pearson Prentice Hall Inc, USA References: 1. Bodner and Hopwood, 1998, Accounting Information System, 7th Edition 2. A. Hall, 1998, Accounting Information System, 2nd Edition, West Publishing Company
3. Jones Rama, 2003, Accounting Information System: A business Process Approach 4. Whiten J.L, Bentley L.D; Dottman, , 2000, System Analysis and Design Methods 5. Bower, Schlosser, Newman, 1989, Computer-Oriented Accounting Information System, South western Publishing Company
Meeting Days_______________ Time_____________ Room________ Instructors Information Name ________________ Consultation Dates_________________ Time______________ Addresses: Office____________ Phone_____________ Mail_______
COURSE DESCRIPTION
Advanced Accounting gives due attention to the modern advanced financial accounting issues such as accounting methods and principles for joint venture businesses, accounting principles and methods for agencies and branches, accounting principles and methods for installment contract sales, accounting and reporting issues related business combination and foreign transactions. Moreover, in this course, some accounting issues for public enterprises in Ethiopia and accounting for privatization of public enterprises (Emphasizing Ethiopian context) are discussed.
Understand the overview of accounting for joint ventures in general and accounting for Public Enterprises(focusing on public enterprises in Ethiopia) Record, analyze and report financial information of enterprises with sales agencies and branches Understand the concept of business combinations and the preparation of consolidated financial statements Differentiate installment and consignment sales from ordinary sales and explain how revenues are recognized from such sales Understand and account for foreign currency transactions and translations and reporting the operating results of foreign subsidiaries
Lecture/Class room contact ,Assignment/tutorial, Case Study, Term Papers (In group or individual) Continuous Assessment -70% and Final Exam-30%
Assessment
COURSE CONTENTS
Chapter One: Over view of accounting for joint ventures and Public enterprises (10 Hrs)
1.1.Accounting for joint ventures Nature of Joint Venture Businesses Back ground of JVs Accounting for investment in JV Businesses
1.2.Accounting for public enterprises in Ethiopia Overview of Procl. 25/1992 and other related provisions
Accounting liquidation
Chapter Two: Accounting for Sales Agencies and principal; Branches and Head office (10 Hrs)
2.1. 2.2. 2.3. 2.4. 2.5. 2.6. 2.7. Characteristics and principles Distinguishing between Agencies, Branches and Divisions Accounting for Operation of Branches Reciprocal accounts and their reconciliations Billing of merchandises to branches Transaction between branches Combined Financial statements
3.2.Consignment sales
(10 Hrs)
(8 Hrs)
5.2.Consolidated Financial Statement :Wholly owned subsidiary 5.3.Consolidated Financial Statement : Partially Owned subsidiary
Chapter six: Reporting operating results of foreign subsidiaries and foreign currency transactions and translations (6 Hrs)
6.1. Introduction Definition of terms Meaning of exchange rates and types of exchange rates Meaning of foreign currency and functional currency Transaction exposures, translation exposures and economic exposures 6.2. Accounting for Foreign Currency Transaction Foreign Currency Transaction meaning Accounting principles and methods for foreign currency transactions 6.3. Foreign Currency Translations Rationale for Foreign Currency Translation Methods and Procedures of Foreign Currency Translation
Text: E.John Larson (2003), Modern advanced accounting, 9th edition, McGrawHill, NY References: 1.
Larson and Mosich, Advanced accounting, 2nd to 11th edition Richard E.Baker et al, Advanced Accounting, McGrawHill, USA, 1999 Hoyle, schaefer, & Doupink, Advanced accounting 6th ed . 2001
2.
3. 4. 5.
Beams,Anthony, Bettinghaus & Smith, Advanced Accounting, 11th Edition, Pearson Education, Inc. Pearson Prentice Hall, USA, 2012. Richard Lewis and Devid Pendril, Advanced Financial Accounting,7th Edition, FT Prentice Hall- Financial Times, United Kingdom, 2004 6. EFDR Proclamation No. 25/1992, Public Enterprises Proclamation and Others
7.
sales)
Course objectives:
This course is designed to provide students with a general understanding of financial management. In this course students will explore the role of the financial manager in the firm, while focusing on providing the tools necessary to successfully perform the job. Underlying financial management concepts are taught while stressing the problem-solving skills & decision-making activities inherent in the finance function. Determine appropriate working capital management techniques for a firm.
Chapter
Topic
Part I
1
The nature and scope of financial management Financial Markets and Institutions Financial institutions Cash flows to and form the firm Primary markets vs. Secondary markets Money markets vs. Capital markets Financial management decisions Goal of the firm Possible goals The goal of the firm and financial management Interest rates Basic forms of business organizations
Financial Forecasting
Overview of financial forecasting Forecasting growth rates and outside financing Forecasting external financing needs Financial statement forecasting: the percentage of sales method
Part II 3
Why money has a time value? Future Value of a single amount Present value of a single amount Future value of annuity Present value of annuity Perpetuities Determining the discount rate The effect of compounding periods: Effective annual rate and the nominal rate Components of the discount rate
Alternative current asset financing policies Advantage and disadvantage of short-term financing Sources of short-term financing (Accruals, Accounts Payable, Short-term Bank Loan, and Commercial Papers)
References:
1. Gitman, L.J., Principles of Managerial Finance, 7th edition, Harper Collins, 1994 2. Nevue, R.P., Fundamentals of Managerial Finance, 2nd edition, South-Western Publishing Co., 3. 4. 5. 6. 7.
Ohio, 1985 Petty & et. A., Basic Financial Management, 6th edition, Prentice-Hall, Inc., 1993 Ross, S.A., Westerfield, and Jordan, Fundamentals of Corporate Finance, 2nd edition, Richard D. IrwinInc.,1993 Weston, J.F., and Brigham, E.F., Essentials of Managerial Finance, 7th edition, The Dryden Press, Illinois, 1985 Yaregal Abegaz, Fundamental of Financial Management, 1st edition, ASE, 2007 N.B. Any book dealing with financial management might be relevant
Course objectives:
A successful completion of this course enables students to: Identify the elements of the cost of capital and determine projects cost of capital Demonstrate knowledge of the concept of optimum capital structure that maximizes firms value and the controversy over the relevance of capital structure policy Appreciate theories over firms dividend policy in maximizing firms value Familiar with the overview of investment decisions and portfolio management Alert with the recent issues in the dynamic financial management environment
Chapter Topic
The capital budgeting decision process Steps in the process Basic terminologies Cash flows The rational for the use of cash flows The cash flow after-tax (CFAT) Types of cash flows Cash flow worksheet Capital budgeting techniques Discounted and non-discounted decision criteria and rules under Accept-reject decisions Mutually exclusive decisions Capital rationing decisions Methods for incorporating risk in to capital budgeting Risk adjusted discount rate Certainty Equivalents Sensitivity and Scenario analysis
Cost of Capital
The meaning of cost of capital The components of the cost of capital The cost of debt and preferred stock The cost of common equity capital The cost of retained earnings and new common stock The meaning and use of the weighted average cost of capital (WACC) Adjusting cost of capital for project risk
5
Evaluation: References:
1. S.A. Ross, R.W. Westerfield, and B.D. Jordan, Fundamentals of Corporate Finance, 2nd edition, Richard D. Irwin. Inc., 1993, USA. 2. E. F. Brigham and J. F. Houston, Fundamentals of Financial Management, 2nd edition, Harcourt Brace Company, 1999, USA. 3. C.F. Lee, J.E. Finnerty, and E.A. Norton, Foundations of Financial Management, special edition, West Publishing Company, 1997, USA. 4. Raymound P. Neveu, Fundamentals of Managerial Finance, 2nd edition, South-Western Publishing Co.,1985, USA.
Course Title: Government and Not For- Profit Accounting Course Code: Acct 342 Credit Hours: 3 Pre Requisite: Acct 212 Academic Year---------Semester-------------Instructor_______ Course Description This course provides students with basic understanding of governmental accounting principles; budgeting and budgetary control principles; enable students to analyze and prepare various funds financial statements emphasizing revenues and expenditures of governments and not for profit organizations. Topics include: distinction between profits and not for profit entities; Principles of Accounting for governmental and Not-for -profit organizations; government Budgeting and budgetary control principles (Ethiopian government budgeting system and the relationship between Regional and Federal government budgets); Revenues and expenditures, expendable and non expendable funds, accounting for not-forprofits organizations are discussed.
objectives Course After completing this course, the students will be able to: Distinguish between for profit and not for profit entities Discuss governmental accounting principles Discuss budgeting and budgetary process Describe general fund, special revenue fund, debt service fund, capital project fund, enterprise fund and internal service fund. Discuss fixed asset and long term debt accout groups Explain different fiduciary fund types Discuss accounting for not for profit organizations
Course Contents CHAPTER ONE: INTRODUCTION 4hrs
Nature and characteristics of for profit and not for profit units and their accounting Similarities and differences between governmental and commercial (business) accounting and reporting CHAPTER TWO: GOVERNMENTAL ACCOUNTING PRINCIPLES---6hrs Fund-defined The Rationale for Fund Accounting Types of Funds Basis of Accounting Valuation of Fixed Assets Depreciation of Fixed Assets Budgetary Accounting Financial reporting
The Budgetary Process at the Federal Level The Budgetary Process at the Federal Level CHAPTER FOUR: GENERAL FUND AND SPECIAL REVENUE FUNDS------ 7 hrs Proprietary accounts Budgets and budgetary account Recording budgets Accounting for revenues encumbrances & expenditures Terminology and classification for governmental fund budget and accounts
Inter-fund transactions and transfer Illustrative transactions and transfer CHAPTER FIVE: CAPITAL PROJECT, DEBT SRVICE & PERMANENT FUNDS-- 8 hrs Capital project founds Debt service funds Permanent funds CHAPTER SIX: PROPRIETARY NON EXPENDABLE FUNDS----
5hrs
Internal service funds Enterprise funds CHAPTER SEVEN: FIXED ASSET AND LONG TERM DEBT ACCOUNTS -- 4hrs General fixed asset accounts Long-term debt accounts CHAPTER EIGHT: FIDUICIARY FUNDS -----3hrs Pension trust fund Private trust Fund Investment trust Fund Agency fund CHAPTER NINE: ACCOUNTING FOR NOT-FOR-PROFIT ORGANIZATION--4hrs Funds used by NGOs Accounting for Restricted and unrestricted fund Health care entities welfare organization Other non-profit organizations Text: Leon E. Hay and Eart R. Wilson, Accounting for Governmental and Non-profit entities 9th Ed, 1995
Teaching methods The following teaching methods will be employed in the delivery of the course: Lecture Group discussions Case studies Evaluation Scheme Quiz, case evaluation and presentations, group discussion, assignments, tests70%, final exam 30%
7. References: 1. Patricia P Douglas, Governmental & Non profit accounting, Theory and practice, 2nd Ed, 1993 3. E. John Larsen, Modern Advanced Accounting 7th Ed, 1997 4. Copley P. & Engstrom J., 2007, Essentials of Accounting for government and NFP organizations, 8th ed., New York, McGraw Hill Companies Inc.
5. Hay L. & Weilson E., 1995, Accounting for Government and non profit entities, 10th ed. USA,Irwin/McGraw Hill companies
6. Larson J., 2003, Modern advanced accounting, 9th ed. New York, McGraw Hill/Irwin 7. Razik J. & Hosch G., 2000, Introduction to government and NFP accounting, 4th ed. New York, prentice Hall. 8. Douglas P., 1993, Government & non profit accounting, Theory and practice, 2nd ed. 9. The constitution of FDRE. Proclamation No. 1/1995 Proclamation No.17/1997 Proclamation No.15/1999.