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Name of college: Mutare Teachers’ College
Programme: Secondary
Department: Business Studies
Module Title and Code: PAC211 Accounting Practices
Email: cmutangs@gmail.com Phone: 0773508799
Module facilitators:
1. Mukando T
2. Murahwa T
3. Mutangirwa C
4. Tandavara D
1.0 Module overview
The module enable students to gain an in-depth knowledge & understanding of basic concepts, principles & assumptions that underline the financial reporting process, including various recognition & reporting issues as well as current accounting rules & practices. It helps students to deal with emerging & unique accounting problem, key recognition & reporting issues with other accounting and financial reporting issues and their alternative treatments guided by the conceptual framework of accounting.
The module introduces students to the knowledge and understanding of today’s business environment, good business ethics and appreciates accounting as a profession of choice. This helps them to develop the idea of starting their own businesses, good management of personal financial activities, such as, budgeting, saving, and investment.
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2.0 Competencies
1. Understanding of International Accounting Standards, conventions, concepts and principles
2. Knowledge of the Accounting system
3. Ability to appreciate the various types of business organizations
4. Knowledge of the available Accounting packages
5. Knowledge of stakeholders’ interest to Accounting business information
6. Ability to start their own businesses and conduct business ethically
3.0 Expected Learning Outcomes
On completion of the module, students should have:
1. The skills to identify, analyse and solve accounting problems effectively.
2. The ability to apply knowledge of accounting to solve business problems.
3. Demonstrated competence to use appropriate accounting methods and computer packages Demonstrated competence to communicate accounting information to relevant stakeholders
4. Demonstrated awareness of the impact of accounting activity on the environment.
5. Demonstrated awareness of the need to act professionally and ethically in the field of business
6. Developed skills in the application of Accounting packages in business
4.0 Objectives
To assist student teachers to:
1. Outline the concepts and conventions that guide the accounting process
2. Describe the accounting cycle;
3. Record transactions in books of accounts
4. Control and correct accounting errors systematically
5. Appraise the accounting features of various types of business organisations
6. Explain the main financial statements prepared by various business organisations
7. Assess the role and impact of technology on the accounting process;
8. Explain the concept and purposes of Accounting;
9. Identify the users of accounting information;
10. Analyse emerging issues in the field of Accounting; and,
11. Appreciate ethical issues in the field of Accounting.
1. Explain why adjustments are made to financial statements;
2. .
5.0 Accounting Practices
Unit 1: The Accounting System
1. Accounting concepts, conventions and principles
2. International accounting standards
3. The accounting cycle
4. Types of business organizations
5. Financial statements
6. Use of the computer, in accounting processes
7. Accounting software
Unit 2: Accounting as a Profession
1. Concept of “Accounting” and “Principles of Accounting”.
2. Accounting as a business practice – the purpose of Accounting.
3. Internal and external users of accounting information and their needs.
4. Careers in Accounting
5. Ethical principles of Accounting.
6. Appropriate application of accounting principles.
7. Inappropriate application of accounting principles.
8. Results of inappropriate application of accounting principles.
Unit 3 Books of Accounting and Trial Balance
1. The uses of Books of Original Entry:
2. Recording of transactions using source documents
3. types of ledgers
4. The double entry system
5. The Trial balance and suspense account
Unit 4 : Accounting Adjustments
1. Application of accounting concept.
2. Pre-payments and accruals
3. Bad and doubtful debts;
4. Capital and revenue expenditures;
5. Depreciation of non-current assets
6. Final accounts extracts to reflect adjustments
Unit 5: Control Systems
1. Uses of control accounts.
2. Sources of information for entries in control accounts.
3. Sales Ledger Control Accounts, Purchases Ledger Control Accounts.
4. Meaning (significance) of the balances on Control Accounts.
5. Bank reconciliation statement
6. The difference between cash book and Bank statement balances
7. Updating of the cash book:
8. Uses and construction of the Bank Reconciliation Statement
6.0 Teaching and learning strategies
1. Blended Learning
2. Case studies
3. Class discussions.
4. Debates
5. Demonstrations
6. Discussions & Critical Thinking Activities
7. Discussions,
8. Field trips.
9. Guest speakers
10. Individual/Group Learning Activities
11. Lectures
12. Portfolios creation
13. Report writing
14. Research
7.0 Assessment of learning:
A combination of any of the following:
1. Final Examinations
2. Assignments
3. Tests
4. Case Studies
5. Closed-Book Assessments
6. Open Book Assessments
7. Collaborative Assignments
8. Computer-Based Assessment
9. Direct Observations
10. Group Presentations
11. Individual Presentations
12. Homework Assignments
13. In-Class Problem Assignments
14. Participation
15. Portfolios
16. Projects
17. Community of Practice Research Based Assignments
18. Work-Based Assessments
WEIGHTING:
1. Formative assessment 60%
2. Summative assessment 40%
8.0 Media and resources
ICTs, Internet, Books, Work Related Contexts, Local Environs, resource persons,
9.0 Readings
1. Harrison ,I. Accounting Hodder Education 2017
2. Sookharee,V. AS and A Level Accounting. Editions De l’Ocean Indien, RoseHill 2016
3. Wood, F. & Sangster, A. (2009) Business accounting 2. 11th Edition. Harlow: Prentice Hall
4. Wood, F. and Sangster, A. Business Accounting 1, 12th Edition. Pearson Education Limited, 2012.
5. On-line resources
- Teacher: Tandavara Denis
- Teacher: Stephen Kazomba
- Teacher: Charles Mutangirwa
- Teacher: Mukando T
- Teacher: Murahwa Theresa