Standard Lecture Plan (TT6)

7/29/2019 Standard Lecture Plan (TT6)

1/19

Centre of Financial Excellence

Standard Lecture Plan

FINANCIAL ACCOUNTING - TT6 (F3)

Ind.% Acc. % No. of Lec. Acc.% Ind.

1 Introduction 1 1 1.00

2 1 Introduction to Accounting 2 2.00

The purpose of financial reporting, Types of business entities, Nature, principles and

scope of financial reporting1 2

1.00

Users' and stakeholders' needs, The main elements of financial reports (assets,

liabilities, capital, income and expense)1 3

1.00

3 5 Ledger accounts and double entry 9 8.00

The accounting equation 1 4 0.89

Double entry bookkeeping, The journal 1 5 0.89

Practice - 1 Long Question 1 6 0.89

Daybook analysis, Imprest system 1 7 0.89

Why do we need ledger accounts?, The nominal ledger 1 8 0.89

Practice - 1 Long Question 1 9 0.89

Receivables and Payables Ledger 1 10 0.89

MCQs Practice 1 11 0.89


4 6 From trial balance to financial statements 5 4.00

The trial balance, Practice - 1 Long Question 1 13 0.80

Income Statement 1 14 0.80

Statement of Financial Position 1 15 0.80

Balancing accounts and preparing financial statements, Practice - 1 Long Question1 16

0.80


5 4 Sources, Records and Books of Prime Entry 5 4.00

The role of source documents 1 18 0.80

The need for books of prime entry, Sales and purchase day books 1 19 0.80

Cash book 1 20 0.80

Petty cash 1 21 0.80


6 7 Sales Tax 4 3.00

The nature of sales tax and how it is collected 1 23 0.75

Accounting for Sales Tax (Input Tax) 1 24 0.75

Accounting for Sales Tax (Output Tax) 1 25 0.75


4 17

4 21

4

4

4

8

4 13

Course Completio/No Ch # Details

Lecture wise%Chapterwise %

1/19


2/19







7 8 Inventory 6 5.00

Cost of goods sold 1 27 0.83

Accounting for opening and closing inventories, Counting inventories 1 28 0.83

Valuing inventories (LIFO), Practice - 1 Long Question. 1 29 0.83

Valuing inventories (AVCO), Practice - 1 Long Question 1 30 0.83

IAS 2 Inventories 1 31 0.83


8 9 Tangible Non-current Assets 13 11.00

Capital and revenue expenditure 1 33 0.85


Depreciation accounting 1 35 0.85

Depreciation: the mechanics (Straight Line Method), Practice - Short Questions 1 36 0.85

Depreciation: the mechanics (Reducing Balance Method), Practice - Short Questions1 37

0.85

Other concepts (acquisition in middle of year, change in methods, fall in asset value),

Practice - Short Questions1 38

0.85


Revaluation of non-current assets, Practice - Short Questions 1 40 0.85

Non-current asset disposals (simple), Practice - Short Questions 1 41 0.85

Non-current asset disposals (part-exchange), Practice - Short Questions 1 42 0.85IAS 16 1 43 0.85

The asset register, MCQs Practice 1 44 0.85


9 10 Intangible non-current assets 1 1.00

Intangible non-current assets (IAS 38), Research and development costs, MCQs

Practice1 46

1.00

10 11 Accruals and Prepayments 7 6.00

Concept of accruals and prepayments 1 47 0.86

Calculation of expense (T-account) 1 48 0.86

Timeline (4 step approach) 1 49 0.86

Basic practice 1 50 0.86

Basic practice 1 51 0.86

Calculation of income 1 52 0.86


4 29

4 33

4 38

4 25

2/19


3/19







11 12 Irrecoverable Debts and Allowances 5 4.00

Irrecoverable debts (Introduction, Double Entry and Debt subsequently paid) 1 54 0.80

Allowances for receivables 1 55 0.80

Accounting for irrecoverable debts & receiavables allowance (income statement) 1 56 0.80

Accounting for irrecoverable debts & receiavables allowance (net debtors) 1 57 0.80


12 13 Provisions and Contingencies 2 2.00

Provisions and Contingents (IAS 37) 1 59 1.00


13 14 Control Accounts 4 3.00

What are control accounts?, Discounts, The purpose of control accounts 1 61 0.75

The operation of control accounts (Debtors) 1 62 0.75

The operation of control accounts (Creditors) 1 63 0.75


14 15 Bank reconciliations 5 4.00

Bank statement and cash book (Formats) 1 65 0.80

The bank reconciliation, Worked Examples - Cash Book to Bank Statement 1 66 0.80

Worked Examples - Bank Statement to Cash Book 1 67 0.80

MCQs Practice 1 68 0.80MCQs Practice 1 69 0.80

15 16 Correction of Errors 8 7.00

Types of error in accounting (Non-affecting) 1 70 0.88

The correction of errors (Non-affecting), 2 Long Questions Practice 1 71 0.88


Types of error in accounting (Affecting) 1 73 0.88

The correction of errors (Affecting), 2 Long Questions Practice 1 74 0.88



IAS 8 1 77 0.88

16 17 Preparation of financial statements for sole traders 3 3.00

1 Long Question Practice 1 78 1.00

1 Long Question Practice 1 79 1.00


4 54

4 58

4 63

4 42

4 46

4 50

3/19


4/19







17 18 Incomplete Records 8 7.00

Incomplete record questions (types), The opening position, Credit sales and trade

account receivables1 81

0.88

Purchases and trade account payables, Establishing cost of sales, Stolen goods or goods

destroyed 1 82 0.88

The cash book 1 83 0.88

Accruals and prepayments, Drawings, The business equation 1 84 0.88

Long Question Practice 1 85 0.88




18 19 Partnerships 5 4.00

Characteristics of Partnerships 1 89 0.80

Preparating partnership accounts I (appropriation, capital and current accounts)1 90

0.80

Preparating partnership accounts II (long question) 1 91 0.80

Preparating partnership accounts III (changes in partnership and goodwill) 1 92 0.80


19 20 Introduction to company accounting 5 4.00

Limited liability and accounting records (Introduction) 1 94 0.80Share Capital 1 95 0.80

Reserves 1 96 0.80

Bonus and rights issues 1 97 0.80

Ledger accounts and limited liability companies, MCQs Practice 1 98 0.80

20 21 Preparation of financial statements for companies 6 5.00

IAS 1 (format and theory) 1 99 0.83

Items in the income statement and statement of comprehensive income, Items in the

statement of financial position, Long Question Practice1 100

0.83

Published accounts, Long Question Practice 1 101 0.83

Company accounts for internal purposes, Long Question Practice 1 102 0.83


IAS 18: Revenue, Practice - Short Questions 1 104 0.83

21 22 Events after reporting period 1 1.00

IAS 10 with MCQ Practice 1 105 1.00

4 67

4 71

4 75

4 79

4 834/19


5/19







22 23 Statement of cash flows 4 3.00

IAS 7 Statement of Cash flows (format) 1 106 0.75

Preparing a statement of cash flows, Long Question Practice 1 107 0.75



23 2 The regulatory framework 2 2.00

The regulatory system 1 110 1.00

International Accounting Standards Board (IASB), Overview of IAS and IFRS 1 111 1.00

24 3 Accounting Conventions 4 3.00

IAS 1 (including accounting concepts) 1 112 0.75

IASB's Framework 1 113 0.75

Criticisms of accounting conventions, Bases of Valuation, IAS 8 1 114 0.75


25 24 Information Technology 3 3.00

Accounting Packages 1 116 1.00

Accounting Modules, Databases, Practical Experience 1 117 1.00


26 Revisions and Tests 10 128

Total no of Lectures 127

4 96

4 100

4 88

4 92

5/19


6/19

Acc.%

1

3

2

3

11

4

5

6

7

7

8

9

10

11

15

12

13

13

14

15

19

16

17

17

18

19

22

20

21

21

22

%age

6/19


7/19

Acc.%

%age

27

23

24

25

25

26

27

38

28

29

30

30

31

32

33

34

35

3536

37

38

39

39

45

40

41

42

42

43

44

45 7/19


8/19

Acc.%

%age

49

46

47

47

48

49

51

50

51

54

52

53

53

54

58

55

56

56

5758

65

59

60

61

62

62

63

64

65

68

66

67

68 8/19


9/19

Acc.%

%age

75

69

70

71

72

72

73

74

75

79

76

77

77

78

79

83

8081

81

82

83

88

84

85

85

86

87

88

89

89 9/19


10/19

Acc.%

%age

92

90

90

91

92

94

93

94

97

95

95

96

97

100

98

99

100

10/19


11/19




No. of

Question Source Lecture wise

1 Introduction 1 1.00

2 1 Introduction to Accounting 2 2.00

3 5 Ledger accounts and double entry 9 8.00

4 6 From trial balance to financial statements 5 4.005 4 Sources, Records and Books of Prime Entry 5 4.00

6 7 Sales Tax 4 3.00

Monthly Test 1

7 8 Inventory 6 5.00

8 9 Tangible Non-current Assets 13 11.00

9 10 Intangible non-current assets 1 1.00

10 11 Accruals and Prepayments 7 6.00

Monthly Test 2

11 12 Irrecoverable Debts and Allowances 5 4.00

12 13 Provisions and Contingencies 2 2.00

13 14 Control Accounts 4 3.00

14 15 Bank reconciliations 5 4.00

15 16 Correction of Errors 8 7.00

Monthly Test 3

16 17 Preparation of financial statements for sole traders 3 3.00

17 18 Incomplete Records 8 7.0018 19 Partnerships 5 4.00

19 20 Introduction to company accounting 5 4.00

Monthly Test 4

20 21 Preparation of financial statements for companies 6 5.00

21 22 Events after reporting period 1 1.00

22 23 Statement of cash flows 4 3.00

23 2 The regulatory framework 2 2.00

24 3 Accounting Conventions 4 3.00

25 24 Information Technology 3 3.00

Monthly Test 5

26 Revisions and Tests 10


Lectures

T/No Ch # Topic DetailsPractice Course Compl

11/19


12/19




No. ofAccum-

ulated

Question Source

1 Introduction 1 1

2 1 Introduction to Accounting 2

The purpose of financial reporting, Types of business entities, Nature, principles and

scope of financial reporting 1 2

Users' and stakeholders' needs, The main elements of financial reports (assets,

liabilities, capital, income and expense)1 3

3 5 Ledger accounts and double entry 9

The accounting equation 1 4

Double entry bookkeeping, The journal 1 5

Practice - 1 Long Question 1 6

Daybook analysis, Imprest system 1 7

Why do we need ledger accounts?, The nominal ledger 1 8

Practice - 1 Long Question 1 9

Receivables and Payables Ledger 1 10

MCQs Practice 1 11

MCQs Practice 1 12

4 6 From trial balance to financial statements 5

The trial balance, Practice - 1 Long Question 1 13

Income Statement 1 14Statement of Financial Position 1 15

Balancing accounts and preparing financial statements, Practice - 1 Long Question 1 16

MCQs Practice 1 17

5 4 Sources, Records and Books of Prime Entry 4

The role of source documents 1 18

The need for books of prime entry, Sales and purchase day books 1 19

Cash book, Petty cash 1 20

MCQs Practice 1 21

6 7 Sales Tax 3

The nature of sales tax and how it is collected 1 22

Accounting for Sales Tax (Input Tax and Output Tax) 1 23

MCQs Practice 1 24

Monthly Test 1 1 25

7 8 Inventory 4

Cost of goods sold, Accounting for opening and closing inventories, Counting

inventories 1 26

Valuing inventories (FIFO & AVCO), Practice - 2 Long Question. 1 27

IAS 2 Inventories, MCQ Practice 1 28

MCQs Practice 1 29

8 9 Tangible Non-current Assets 11

Capital and revenue expenditure 1 30

MCQs Practice 1 31

Depreciation accounting, Depreciation: the mechanics (SLM & RBM), Practice - Short

Questions1 32


Practice - Short Questions1 33

MCQs Practice 1 34

Revaluation of non-current assets, Practice - Short Questions 1 35

DetailsT/No Ch #Practice

Lectures

Topic

12/19


13/19




No. ofAccum-

ulated

Question Source


Lectures

Topic

Non-current asset disposals (simple), Practice - Short Questions 1 36

Non-current asset disposals (part-exchange), Practice - Short Questions 1 37

IAS 16, The asset register 1 38

MCQs Practice 1 39MCQs Practice 1 40

9 10 Intangible non-current assets 1

Intangible non-current assets (IAS 38), Research and development costs, MCQs

Practice1 41

10 11 Accruals and Prepayments 6

Concept of accruals and prepayments 1 42

Calculation of expense (T-account) 1 43

Timeline (4 step approach) 1 44

Basic practice 1 45

Calculation of income 1 46

MCQs Practice 1 47

Monthly Test 2 1 48

11 12 Irrecoverable Debts and Allowances 4

Irrecoverable debts (Introduction, Double Entry and Debt subsequently paid),

Allowances for receivables1 49

Accounting for irrecoverable debts & receiavables allowance (income statement and net

debtors)1 50

MCQs Practice 1 51

MCQs Practice 1 52

12 13 Provisions and Contingencies 1

Provisions and Contingents (IAS 37), MCQs Practice 1 53

13 14 Control Accounts 4

What are control accounts?, Discounts, The purpose of control accounts 1 54

The operation of control accounts (Debtors) 1 55

The operation of control accounts (Creditors) 1 56

MCQs Practice 1 57

14 15 Bank reconciliations 5

Bank statement and cash book (Formats) 1 58

The bank reconciliation, Worked Examples - Cash Book to Bank Statement 1 59

Worked Examples - Bank Statement to Cash Book 1 60

MCQs Practice 1 61MCQs Practice 1 62

15 16 Correction of Errors 7

Types of error in accounting (Non-affecting) 1 63

The correction of errors (Non-affecting), 2 Long Questions Practice 1 64

MCQs Practice 1 65

Types of error in accounting (Affecting) 1 66

The correction of errors (Affecting), 2 Long Questions Practice 1 67

MCQs Practice 1 68

IAS 8 1 69

Monthly Test 3 1 70

16 17 Preparation of financial statements for sole traders 3

1 Long Question Practice 1 71

1 Long Question Practice 1 7213/19


14/19




No. ofAccum-

ulated

Question Source


Lectures

Topic

MCQs Practice 1 73

17 18 Incomplete Records 6

Incomplete record questions (types), The opening position, Credit sales and trade

account receivables1 74


destroyed1 75

The cash book 1 76

Accruals and prepayments, Drawings, The business equation 1 77

MCQs Practice 1 78

MCQs Practice 1 79

18 19 Partnerships 5

Characteristics of Partnerships 1 80

Preparating partnership accounts I (appropriation, capital and current accounts)1 81

Preparating partnership accounts II (long question) 1 82

Preparating partnership accounts III (changes in partnership and goodwill) 1 83

MCQs Practice 1 84

19 20 Introduction to company accounting 5

Limited liability and accounting records (Introduction) 1 85

Share Capital 1 86

Reserves 1 87

Bonus and rights issues 1 88

Ledger accounts and limited liability companies, MCQs Practice 1 89

Monthly Test 4 1 90

20 21 Preparation of financial statements for companies 5

IAS 1 (format and theory) 1 91Items in the income statement and statement of comprehensive income, Items in the

statement of financial position, Long Question Practice1 92

Published accounts, Long Question Practice 1 93

MCQs Practice 1 94

IAS 18: Revenue, Practice - Short Questions 1 95

21 22 Events after reporting period 1 96

IAS 10 with MCQ Practice 1 97

22 23 Statement of cash flows 4

IAS 7 Statement of Cash flows (format) 1 98Preparing a statement of cash flows, Long Question Practice 1 99

Long Question Practice 1 100

MCQs Practice 1 101

23 Consolidated Financial Statements - Subsidiaries 11

Definition of terms, Identification of subsidiaries within a group structure 1 102Preparation of Consolidated SFP (Fair Value Adjustments, Fair Value of Consideration

Transferred, Elimination of inter-company balances)1 103

Removal of unrealized profit 1 104

Acquisition of subsidiaries part way through the year 1 105

Calculation of Goodwill (Full Goodwill Method Only)1 106

Long Question Practice 1 10714/19


15/19




No. ofAccum-

ulated

Question Source Le

DetailsC

T/No Ch #Practice

Lectures

Topic


Preparation of Consolidated SoCI 1 109


MCQs Practice 1 111

MCQs Practice 1 112

Consolidated Financial Statements - Associates 3

Definitions and significant influence explaination 1 113

Key features of parent-associate relationship, Principles of equity accounting 1 114

MCQs Practice 1 115

Interpretation of Financial Statements 5

How interpretation is used, Purpose of interpretation of ratios 1 116

Calculation and interrelation of accounting ratios (Profitability, Liquidity) 1 117

Calculation and interrelation of accounting ratios (Efficiency, Position) 1 118

Analysis of Financial Statements 1 119

MCQs Practice 1 120

23 2 The regulatory framework 2

The regulatory system 1 121

International Accounting Standards Board (IASB), Overview of IAS and IFRS 1 122

24 3 Accounting Conventions 3

IAS 1 (including accounting concepts), IASB's Framework 1 123 Criticisms of accounting conventions, Bases of Valuation, IAS 8 1 124

MCQs Practice 1 125

Monthly Test 5 1 126

26 Revisions and Tests 5


15/19


16/19




1 Introduction

2 1 Introduction to Accounting

The purpose of financial reporting, Types of business entities, Nature, principles and scope

of financial reporting

Users' and stakeholders' needs, The main elements of financial reports (assets, liabilities,

capital, income and expense)

3 5 Ledger accounts and double entry

The accounting equation

Double entry bookkeeping, The journal

Practice - 1 Long Question

Daybook analysis, Imprest system

Why do we need ledger accounts?, The nominal ledger

Practice - 1 Long QuestionReceivables and Payables Ledger

MCQs Practice

MCQs Practice

4 6 From trial balance to financial statements

The trial balance, Practice - 1 Long Question

Income Statement

Statement of Financial Position

Balancing accounts and preparing financial statements, Practice - 1 Long Question

MCQs Practice

5 4 Sources, Records and Books of Prime Entry

The role of source documentsThe need for books of prime entry, Sales and purchase day books

Cash book, Petty cash

MCQs Practice

6 7 Sales Tax

The nature of sales tax and how it is collected

Accounting for Sales Tax (Input Tax and Output Tax)

MCQs Practice

Monthly Test 1

7 8 Inventory

Cost of goods sold, Accounting for opening and closing inventories, Counting inventoriesValuing inventories (FIFO & AVCO), Practice - 2 Long Question.

IAS 2 Inventories, MCQ Practice

MCQs Practice

8 9 Tangible Non-current Assets

Capital and revenue expenditure

MCQs Practice

Depreciation accounting, Depreciation: the mechanics (SLM & RBM), Practice - Short

Questions

T/N

o

Ch

#Topic Details

16/19


17/19



FINANCIAL ACCOUNTING - TT6 (F3)T/N

o

Ch

#Topic Details


Practice - Short Questions

MCQs PracticeRevaluation of non-current assets, Practice - Short Questions

Non-current asset disposals (simple), Practice - Short Questions

Non-current asset disposals (part-exchange), Practice - Short Questions

IAS 16, The asset register

MCQs Practice

MCQs Practice

9 10 Intangible non-current assets

Intangible non-current assets (IAS 38), Research and development costs, MCQs Practice

10 11 Accruals and Prepayments

Concept of accruals and prepaymentsCalculation of expense (T-account)

Timeline (4 step approach)

Basic practice

Calculation of income

MCQs Practice

Monthly Test 2

11 12 Irrecoverable Debts and Allowances

Irrecoverable debts (Introduction, Double Entry and Debt subsequently paid), Allowances

for receivables

Accounting for irrecoverable debts & receiavables allowance (income statement and net

debtors)

MCQs Practice

MCQs Practice

12 13 Provisions and Contingencies

Provisions and Contingents (IAS 37), MCQs Practice

13 14 Control Accounts

What are control accounts?, Discounts, The purpose of control accounts

The operation of control accounts (Debtors)

The operation of control accounts (Creditors)

MCQs Practice

14 15 Bank reconciliationsBank statement and cash book (Formats)

The bank reconciliation, Worked Examples - Cash Book to Bank Statement

Worked Examples - Bank Statement to Cash Book

MCQs Practice

MCQs Practice

15 16 Correction of Errors

Types of error in accounting (Non-affecting)

The correction of errors (Non-affecting), 2 Long Questions Practice

MCQs Practice

Types of error in accounting (Affecting)

17/19


18/19




o

Ch

#Topic Details

The correction of errors (Affecting), 2 Long Questions Practice

MCQs Practice

IAS 8Monthly Test 3

16 17 Preparation of financial statements for sole traders

1 Long Question Practice

1 Long Question Practice

MCQs Practice

17 18 Incomplete Records

Incomplete record questions (types), The opening position, Credit sales and trade account

receivables


destroyed

The cash bookAccruals and prepayments, Drawings, The business equation

MCQs Practice

MCQs Practice

18 19 Partnerships

Characteristics of Partnerships

Preparating partnership accounts I (appropriation, capital and current accounts)

Preparating partnership accounts II (long question)

Preparating partnership accounts III (changes in partnership and goodwill)

MCQs Practice

19 20 Introduction to company accounting

Limited liability and accounting records (Introduction)

Share Capital

Reserves

Bonus and rights issues

Ledger accounts and limited liability companies, MCQs Practice

Monthly Test 4

20 21 Preparation of financial statements for companies

IAS 1 (format and theory)

Items in the income statement and statement of comprehensive income, Items in the

statement of financial position, Long Question Practice

Published accounts, Long Question PracticeMCQs Practice

IAS 18: Revenue, Practice - Short Questions

21 22 Events after reporting period

IAS 10 with MCQ Practice

22 23 Statement of cash flows

IAS 7 Statement of Cash flows (format)

Preparing a statement of cash flows, Long Question Practice

Long Question Practice

MCQs Practice

23 Consolidated Financial Statements - Subsidiaries

18/19


19/19




o

Ch

#Topic Details

Definition of terms, Identification of subsidiaries within a group structure

Preparation of Consolidated SFP (Fair Value Adjustments, Fair Value of Consideration

Transferred, Elimination of inter-company balances)Removal of unrealized profit

Acquisition of subsidiaries part way through the year

Calculation of Goodwill (Full Goodwill Method Only)



Preparation of Consolidated SoCI


MCQs Practice

MCQs Practice

Consolidated Financial Statements - Associates

Definitions and significant influence explainationKey features of parent-associate relationship, Principles of equity accounting

MCQs Practice

Interpretation of Financial Statements

How interpretation is used, Purpose of interpretation of ratios

Calculation and interrelation of accounting ratios (Profitability, Liquidity)

Calculation and interrelation of accounting ratios (Efficiency, Position)

Analysis of Financial Statements

MCQs Practice

23 2 The regulatory framework

The regulatory system

International Accounting Standards Board (IASB), Overview of IAS and IFRS

24 3 Accounting Conventions

IAS 1 (including accounting concepts), IASB's Framework

Criticisms of accounting conventions, Bases of Valuation, IAS 8

MCQs Practice

Monthly Test 5

26 Revisions and Tests

Total no of Lectures

Standard Lecture Plan (TT6)

Documents

Transcript of Standard Lecture Plan (TT6)