BAC 813: Financial Accounting Notes-Kenyatta University


Institution: Kenyatta University

Course: Master of Business Administration
Course Outline

1. The Theoretical Framework of Accounting.

 Definition
 Advantages of theoretical framework
 Disadvantages of theoretical framework
 Structure of typical theoretical framework of accounting
 Issues dealt with by theoretical framework

2. Accounting Concepts

 Fundamental accounting concepts
 Other accounting concepts/principles
 Accounting bases
 Accounting policies

3. Accounting Standards (IFRs)

 Introduction
 Development of Accounting standards
 Purpose of accounting standards
 Disadvantages of Accounting standards
 International harmonization
 Disadvantages of harmonization and Barriers to harmonization of accounting standards.
 Regulation of Accounting profession in Kenya

4. Accounting Cycle

 Journal entries
 Ledger accounts
 Trial balance
 Preparation of financial statements including cash flow statement.
 Financial analysis and basic accounting ratios

5. Disposal and valuation of tangible and intangible assets
 Difference of tangible and intangible assets
 Value of resources after trade-in
 Gain and losses on disposal
 Contingent assets and Contingent liabilities

6. Social Responsibility Accounting.

 Nature and scope of social responsibility accounting
 Aspects of corporate social responsibility accounting

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