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001 Course Outline Advanced Financial Accounting

This document outlines a course in Advanced Financial Accounting I. The course objectives are to learn about accounting for joint ventures, branches, business combinations, consolidations, foreign currency transactions, and segment/interim reporting. The course consists of 7 topics that will be assessed through continuous assessment (60%) and a final exam (40%). Students will learn to record, analyze, and report financial information for various entities and transactions. Key areas covered include accounting for public enterprises, branches, installment/consignment sales, mergers and acquisitions, foreign currency translation, and segment/interim financial reporting.

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Temesgen Lealem
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216 views

001 Course Outline Advanced Financial Accounting

This document outlines a course in Advanced Financial Accounting I. The course objectives are to learn about accounting for joint ventures, branches, business combinations, consolidations, foreign currency transactions, and segment/interim reporting. The course consists of 7 topics that will be assessed through continuous assessment (60%) and a final exam (40%). Students will learn to record, analyze, and report financial information for various entities and transactions. Key areas covered include accounting for public enterprises, branches, installment/consignment sales, mergers and acquisitions, foreign currency translation, and segment/interim financial reporting.

Uploaded by

Temesgen Lealem
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Andnet Business & Technology College

Department of Accounting and Finance


Course outline
Course Information
Course Title Advanced Financial Accounting I (AcFn3151)
Contact Hours 4
(per week)
Course Objectives After successfully completing this course, students will be able to:
 Deal with accounting for joint ventures in general and accounting for Public
Enterprises(focusing on public enterprises in Ethiopia)
 Record, analyze and report financial information of enterprises with sales
agencies and branches
 Account for business combinations and the preparation of consolidated
financial statements
 Differentiate installment and consignment sales from ordinary sales and
explain how revenues are recognized from such sales
 Account for foreign currency transactions and translations and reporting the
operating results of foreign subsidiaries
 Account for segment reporting and interim reporting
Course Contents
1. Over view of accounting for joint ventures and Public
enterprises
1.1. Accounting for joint ventures
1.1.1. Nature of Joint Venture Businesses
1.1.2. Back ground of JVs
1.1.3. Accounting for investment in JV Businesses
1.2. Accounting for public enterprises in Ethiopia
1.2.1. Overview of Proc. No. 25/1992 and other related
provisions Agency problem
1.2.2. Accounting for the Formation
1.2.3. Accounting for the operation, Dissolution and
liquidation
1.2.4. Privatization of Public Enterprises
1.2.5. Illustrations
2. Accounting for Branches and Head office
2.1. Introduction
2.2. Distinguishing betweenBranches and Divisions
2.3. Accounting for Operation of Branches
2.4. Reciprocal accounts and their reconciliations
2.5. Billing of merchandises to branches
2.6. Transaction between branches
2.7. Combined Financial statements
3. Installment and Consignment contracts
3.1. Installment Sales
3.2. Consignment sales
4. Business Combinations (Mergers and Acquisitions)
4.1. Introduction
4.1.1. Definitions
4.1.2. Motives

1
4.1.3. Types of business combinations
4.2. Methods of Arranging business combinations
4.3. Accounting Methods and procedures for Business
Combinations
5. Consolidations
5.1. Introduction
5.2. Consolidated Financial Statement :Wholly owned subsidiary
5.3. Consolidated Financial Statement : Partially Owned subsidiary
5.4. Consolidated Financial Statement : Subsequent to data of
acquisition:
5.4.1. Wholly Owned Subsidiary
5.4.2. Partially Owned Subsidiary
6. Foreign Currency Accounting
6.1. Introduction
6.1.1. Definition of terms
6.1.2. Types of currency-related exposures
6.2. Accounting for Foreign Currency Transaction
6.2.1. Foreign Currency Transaction meaning
6.2.2. Accounting principles and methods for foreign
currency transactions
6.3. Foreign Currency Translations
6.3.1. Rationale for Foreign Currency Translation
6.3.2. Methods and Procedures of Foreign Currency
Translation
7. Segment Reporting and Interim Reporting
7.1. Meaning & Computation of Segment Revenue & Operating
Profit /Loss
7.2. Information to be disclosed by operating segment
7.3. Interim Reporting Provisions of APB Opinion No. 28
7.4. Disclosure in Interim Financial Data

Assessment Continuous assessment-----------------------60%


scheme Final Examination -----------------------------40%
Total-------------------------------------------- 100%
Text and Text Book:
reference books Larson. Advanced Accounting. 11th edition
Reference Books
 Richard E.Baker et al. Advanced Accounting. 7th Edition, FT Prentice Hall-
Financial Times, United Kingdom, 2004
 Hoyle, schaefer, &Doupink. Advanced accounting. 11th Ed
 Public Enterprises Proclamation No. 25/1992

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