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October University,
Faculty of Economics and managment
First Year (English Section):
Course Title: Accounting II
Course Code: ACC1201
Dr. Ahmed Hefny
Text: Williams, R;, Haka, S., Bettner, M. ,and CarrcelloJ.,
Financial Managerial Accounting
- The Basis for Business Decisions, McGraw -- Hill, 14th . ed. , Boston ,2008.
Course Objective
The objective of the course is to introduce the student to the basic concepts and techniques of accounting and its role in the decision making process of business management.
Methods of instruction:
Formal lecture format on each topic: following by informal discussions and examples problem solving.
Grade Evaluation:
1. Participation, class examinations and assignments 10%
2. Mid -Term examination 15%
3. Final examination 75%
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Topic
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Assignments
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Accounting for Merchandising Activities
(chapter 1)
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Ex.: 2, 3,4,7,10,12, 13
Prob.:2A ,4A, 5A.8A
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Financial Assets (chapter 2)
Financial assets defined and classified.
The valuation of financial assets-
Cash:
Cash over and short,
Reconciling the bank statement.
Updating the accounting records.
Petty cash funds.
Short- term investments:
Mark - to - market valuation and adjustment
Accounting for marketable securities
( supplemental topic)
Accounts receivable:
Uncollectible accounts.
The allowance for doubtful accounts.
Writing- off an uncollectible accounts receivable.
Monthly estimates of credit losses.
Recovery of an account receivable previously -written-off.
Direct write - off method.
Credit card sales.
Notes receivable and interest revenue:
Nature of interest
Accounting for notes receivable,
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Ex.7.5
Porb,7.1A
Ex.7.7,7.13
Prob. 7.5A
Ex. 7.8
Prob-7.3A&7.4A
Ex. 7. 18
Prob. 7.6A
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Inventories and the Cost of Good Sold (chapter 3)
Inventory defined.
The flow of inventory costs:
which unit did we sell?
Special identification.
Cost flow assumption:
Average - cost method.
First - in, first - out method.
Last - in, first - out method.
Evaluation of the methods.
Taking a physical inventory:
Recording shrinkage losses.
Periodic inventory systems.
Importance of an accurate valuation of inventory.
Techniques for estimating the cost of goods sold and
the ending inventory:
The Gross Profit method.
The Retail method.
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Ex 8.2&8.7
Ex, 8.9&8.10
Prob.8.1A
Prob.8.2A
Prob. 8.5A
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Plant and Intangible Assts (chapter 4)
Plant Assets as a " stream of future services"
Major categories of plant assets.
Acquisitions of plant assets depreciation:
Allocating the cost of plant and equipment over the years of use.
Causes of depreciation.
Methods of computing depreciation:
The straight-line method.
The declining-balance method.
The units -of - output method
The sum -of- the -years digits
Disposal of plant and equipment:
Gains and losses on disposals of plant and equipment.
Trading - in used assets for new ones.
Intangible assets.
Natural resources
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Ex. 9.2&9.4
Prob. 9.2A
Prob. 9.4A
Ex. 9.7
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