Faculty of Business Administration

Course Outline
1. Course Code and General Information
Course Code
Course Title Financial Accounting - II
Pre-requisite Financial Accounting – I
Credit Hours Three (3)
Degree Program BS AF

2. Instructor and contact information

Faculty Name
Contact Number
Email Address
Office Number
Office Hours

3. Program Learning Outcomes

Knowledge
PLO 1: Explain core concepts in Accounting, Finance and related disciplines

Teambuilding
PLO 2: Demonstrate interpersonal and intrapersonal skills in groups and teams

Critical Thinking and Decision Making

PLO 3: Analyze businesses’ accounting and finance related problems and formulate optimal
solutions in local and global context.

Communication
PLO 4: Communicate through oral and written means by using appropriate technology

Information Technology
PLO 5: Use technology as appropriate to analyze financial and non-financial information.

Ethics and Social Responsibility

PLO 6: Exhibit work ethics and promote sustainable development goals.

4. Course Description
This course is designed to concentrate on preparation of financial statements, evaluation and
interpretation of financial information under different business situations. This course will help
students to apply detailed operational procedures in different business environments. Here,
detailed operational aspects of partnership as well as company accounting will be introduced
too along with preparation of financial statement.
 5. Course Objectives
To provide the students with a thorough knowledge of advanced aspects of financial
accounting to enable them to:
 select and apply appropriate accounting techniques and procedures to specific
circumstances, and
 prepare and analyse financial statements of partnership and corporation under specific
situations.

6. Course Learning Outcomes

On completion of this course, students should be able to:
CLO1: prepare and present the financial statements involving Trial Balance having suspense
accounts
CLO2: prepare and present financial statements of Partnership and Corporations
CLO3: demonstrate the application of accountable events of property, plant and equipment
CLO4: demonstrate the application of accountable events in case of Inventory and Receivable.
CLO5: prepare the cash flow statements;
7. Teaching and Assessment
Course
Teaching
Code CLO Assessment
Strategies
Methods
1 Knowledge
CLO 1.1 Preparation of Financial Statement involving
Trial balance having Suspense Account
Lecture;
Discussion;
CLO 1.2 Preparation of Financial Statement of partnership Quiz, Midterm;
Annual
and Corporation Final; Project
Reports;
PQs
CLO 1.3 Preparation of Cash Flow Statement

2 Team building
NA
3 Critical Thinking and Decision Making
CLO 3.1 Apply suitable techniques and methods in case of
accountable events of Fixed Assets
Lecture;
Discussion;
CLO 3.2 Apply suitable inventory system and methods as Quiz, Midterm;
Annual
per business suitable Final; Project
Reports;
PQs
CLO 3.3 Apply relevant methods of debtors provisions

4 Communication
CLO 4.1 Prepare financial statements in accordance with
Annual Midterm; Final;
specified international standards Report Project
5 Information Technology
 6 Ethics and Social Responsibility

8. Alignment of Course Learning Outcomes with Program Learning Outcomes

Course Learning Objectives Program Learning Goals and Objectives
CLO 1 PLO1 ; PLO4
CLO 2 PLO1: PLO3; PLO4
CLO 3 PLO1; PLO3
CLO 4 PLO1; PLO3
CLO 5 PLO1; PLO4

9. Course Contents
Week Topics Recommended Readings
1  Review of Accounting Cycle – FA1 Material
 Financial Statement of Sole Proprietorship (Trial CAF1 - ICAP Study Text
Balance having NO Suspense Accounts) Chapter 12
2&3 Preparation of Financial Statements CAF5 - ICAP Study Text
 Financial Statement of Sole Proprietorship (Trial Chapter 4
balance having Suspense Account) Business Accounting Vol 1 by
Frankwood
4&5 Accounting for Partnership ICAP Study Text Chapter 14
 Formation of Partnership Business Accounting Vol 1 by
 Admission & Retirement of Partners under Bonus Frankwood
and Goodwill
 Distribution of Profit and Loss among Partners
 Liquidation and Dissolution of Partnership
6&7 Accounting for Corporations Business Accounting Vol 1 by
 Issuance of Shares and Debentures Frankwood
 Disposal of Income (Dividend and Appropriation)
 Statement of changes in Equity
 Shareholder Equity Section of Balance Sheet
8 Midterm Examinations
9& Accounting for Non-Current Assets: Property, CAF1 – ICAP Study Text
10 Plant & Equipment Chapter 6
 Capital Expenditures and Revenue Business Accounting vol 1 by
Expenditures
Frankwood
 Cost calculation
 Initial recognition & subsequent measurement
 Depreciation Charge Policy
 Cost model & Fair value model
 Assets Disposal
11 Accounting for Current Assets I: Inventory CAF1 – ICAP Study Text
 Perpetual versus Periodic System Chapter 9
 FIFO, LIFO and Average Method of Costing Business Accounting vol 1 by
 Inventory Card
 Frankwood
12 Accounting for Current Assets II: Receivables CAF1 – ICAP Study Text
 Methods of Bad Debt Provision (Income Chapter 7
Statement Approach versus balance sheet Business Accounting vol 1 by
approach)
Frankwood
 Aging analysis of Debtors
13 to Preparation of statement of cash flows (IAS 7) CAF5 – ICAP Study Text
15  Direct and Indirect method Chapter 5
 understanding of cash and cash equivalents,
 operating, investing and financing activities
 changes in working capital to be included in the
operating activities
16 Final Examinations

10. Schedule of Assessment

Percent of Total
S. No. Course Assessment Method Week Due
Assessment
1 Quizzes 3rd , 6th , 9th, 12th, 14th 25%
2 Assignments 7th and 13th 10%
3 Midterm Exams 8th 25%
4 Final Exams 16th 40%

11. Grading Policy

‘A’ Grade: 88 and above
‘B+’ Grade: 81-87
‘B’ Grade: 74-80
‘C+’ Grade: 67-73
‘C’ Grade: 60-66
‘F’ Grade: Below 60

12. Recommended Books

1. CAF 1 Study Text by ICAP
2. CAF 5 Study Text by ICAP
3. Business Accounting Vol 1 by Frankwood and Sangster

13. Reference Books & Learning Material

 Intermediate Accounting (IFRS Vol: 1&2)by Donald E. Kieso / Jerry J. Weygandt /
TerryD. Warfield
 Financial Accounting Principles by PBP

14. Code of Conduct

Students have to follow the rules stated below to avoid a failing grade in the course:
 Understand and follow the University policy regarding attendance.
 Arrive in and leave the classroom strictly on time. Late arrival will be marked as
absence. If you leave the classroom in the middle of a session even for a short while,
you will be marked absent.
 Keep your cell phone off during the class.
 Do the assigned readings for a class before coming to the class.
 Maintain a disciplined, cordial, and respectful attitude towards the teacher and your
fellow students.
 Submit your homework on the due date before the class begins.
 Do not plagiarize from books, journals, or the internet.
 Do not cheat (make someone else do your work or present work for some other
course as work for this course).
 The teacher’s decisions about marks and grade will be final.