SEM 1

This course is designed to enable the student acquire a thorough understanding of Financial Accounting so as to be able to: 

• prepare corporate annual reports, 
• analyse, interpret and prepare financial statements, 
•  adequately understand International Accounting and financial accounting issues and 
•  know the accounting application of the theories and laws of Bankruptcy, Trusteeship and executorship.

GENERAL OBJECTIVES:

On completion of this course, the students should be able to:-

1. Understand the meaning, objectives and content of corporate annual reports.
2. Know how to prepare financial statements of limited liability companies for publication.
3. Understand the analysis and interpretation of financial statements.
4. Understand accounting for multinational companies including inflation accounting.
5. Understand financial accounting issues such as social responsibility accounting and human resources accounting.
6. Know how to prepare bankruptcy.
7. Know how to prepare trustees account.
8. Know how to prepare executorship accounts.
9. Understand treatment of insurance claims.
10. Understand the accounting treatment of sinking fund and annuities