Accounting for Managers - MBA

Department of Business Administration Course Title: Course Code: Pre-requisite Courses: Credit Hours: Semester: Degree:

Accounting for Managers ACT 401 Nil Three (3) Third (3) MBA Program

Cour se Descri Descri ption :

Accounting has often been called the language of business but now it has become everyone need. We live in an era of accountability. An individual must account for his or income and must file income tax return and supply information in order to qualify for a loan. The federal government and provinces use accounting information as the basis for controlling their resources ad measuring their accomplishments. Understanding of accounting is important whether a person work in manufacturing, trading, and service or not for private organization. Cour Cou r se Obj ecti ecti ves:  ves: 

This course has been designed keeping the following objectives in mind: 1. To provide students with a better understanding of the environment in which accounting information is developed and used. 2. Particular emphasis will be placed on the preparation p reparation of accounting information. L earn in g Outcomes Outcomes:

After completing this course a student will be able to: 1. 2. 3. 4. 5.

Comprehend the language of accounting and financial reporting Understand Accounting Cycle Understand the role of Journal, Ledger and subsidiary books Will be able to prepare balance sheet, sh eet, profit and loss and cash flow statement Understand Final accounts of companies

Teachin Teachin g M ethodology:

Teaching at Iqra University is learner oriented. Students are involved in lectures, assigned readings, reference readings, exercises, case studies, presentations, and class discussions. In the same way, grading tends to focus on the students’ overall performance and participation in the classroom activities.

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Code of Condu ct:

Students have to follow the rules stated below to avoid a failing grade in the course:  

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Understand and follow the University policy regarding attendance. Arrive in and leave the classroom strictly on time. Late arrival will be marked as absence. If you leave the classroom in the middle of a session even for a short while, you will be marked absent. Keep your cell phone off during the class. Do the assigned readings for a class before comin g to the class. Maintain a disciplined, cordial, and respectful attitude towards the teacher and your fellow students. Submit your homework on the due date before the class begins. Do not plagiarize from books, journals, or the internet. Do not cheat (make someone else do your work or present work for some other course as work for this course). The teacher’s decisions about marks and grade will be final.

Cour se Contents:

Week

Topics to be covered

1.

1.1 Purposes and users of accounting 1.2 Accounting regulation and the accountancy  profession 1.3 Language

2.

2.1 The accounting equation and the balance sheet 2.2 The double entry system for assets, liabilities and capital 2.3 The asset of stock 2.4 The effect of profit or loss on capital and the double entry system for expenses and revenues 2.5 Balancing off accounts 2.6 The trial balance 3.1 Introduction 3.2 Underlying concepts 3.2.1 Business entity 3.2.2 Accounting period 3.3 The IASB’s concepts 3.3.3 Relevance 3.3.4 Reliability 4.1 Trading and profit and loss accounts: an introduction 4.2 Balance sheets

3.

4.

Remarks

Assignment

Quiz

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5.

4.3Trading and profit and loss accounts and  balance sheets: further considerations

6.

5.1 Capital expenditure and revenue expenditure 5.2 Bad debts, provisions for doubtful debts, and  provisions for discounts on debtors 5.3 Depreciation of fixed assets: nature and calculations

7.

Assignment

5.4 Double entry records for depreciation 5.5 Accruals and prepayments and other adjustments for financial statements 5.6 The valuation of stock 5.7 Bank reconciliation statements MID-TERM EXAMINATION

8.

6.1 Introduction to accounting ratios

9.

6.2 Single entry and incomplete records

10.

6.3 Cash flow statements

11.

7.1 Partnership accounts: an introduction 7.2 Goodwill for sole traders and partnerships

12.

7.3 Revaluation of partnership assets 7.4 Partnership dissolution

13.

8.1 An introduction to the financial statements of limited liability companies

14.

8.2 An introduction to the financial statements of limited liability companies

15.

Project Presentations

Quiz

Assignment

Quiz

FINAL EXAMINATION Rescheduli ng of Cl ass:

The teachers at Iqra University are very particular about taking their classes, but in case of an emergency, an alternate teacher may conduct the class. Students are informed through SMS in case of rescheduling of a class.

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Grading Policy:

‘A’ Grade: ‘B+’ Grade:  ‘B’ Grade:  ‘C+’ Grade:  ‘C’ Grade:  ‘F’ Grade:

88 and above 81-87 74-80 67-73 60-66 Below 60

M arks Di stri bution of 100%:

Quizzes Assignments/Case Studies: Project/Project presentations: Mid-term Final Exam Total

______10_____ ______10_____ ______15_____ ______25_____ ______40_____ 100____ 

Recommended Readin g(s): 1.

th

 by Meigs & Meigs 9  edition Accounti ng: Th e Basis for Bu sin ess Decisions 

2. In addition the teacher may prescribe any additional reading material.

Ref er ence Books: 1. 2.

“Business Accounting 1,” Frank Wood, 7th Edition. th “Accounting: A Business Perspective.” Hermanson, Edwards and Maher, 7  Edition

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