BAC 813: Financial Accounting Notes-Kenyatta University
Institution: Kenyatta University
Course: Master of Business Administration
1. The Theoretical Framework of Accounting.
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
3. Accounting Standards (IFRs)
Development of Accounting standards
Purpose of accounting standards
Disadvantages of Accounting standards
Disadvantages of harmonization and Barriers to harmonization of accounting standards.
Regulation of Accounting profession in Kenya
4. Accounting Cycle
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