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ADVANCED ACCOUNTING

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Curriculum
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About Course

The course equips students with knowledge and understanding of more advanced accounting practices in accordance with the contemporary legislations and accounting standards so as to logically handle several accounting aspects. Topics covered include: overview of regulatory framework, preparation and presentation of financial statements, consolidated financial statements, business combinations, reorganisation and reconstruction.

What Will You Learn?

  • By the end of the course students should be able to:
  • Demonstrate knowledge of different accounting standards.
  • Prepare financial statements using IAS/IFRS framework.
  • Prepare financial statements for group of companies and
  • Prepare accounting adjustments and account for business combinations and firms under reconstruction, receivership and takeovers.

About the instructor

Course Curriculum

Review of accounting regulatory framework
Accounting principles and concepts, accounting theory The scope of accountin & regulatory framework of accounting. Objectives of financial statements. Qualitative characteristics of financial statements. The elements of financial statements and their measurement.

International Financial Reporting Standards for SMEs
Objective of such standards. Major differences with the main stream standards. Challenges of implementing such standards in Uganda.

Accounting for substance of Transactions
Introduction to accounting for substance of transactions. Reporting the substance of transactions

Preparation and preparation of Financial Statements
Accounting and disclosure requirements of IAS/IFRSs Presentation of financial statements for limited companies (IAS 1). Accounting for discontinued operations and assets held for sale (IFRS 5). Net profit or loss for the period. Fundamental errors and changes in accounting policies (IAS 8). Events after the Balance Sheet Date (IAS 10). Related parties and segmented Financial Reporting.

Introduction to preparation of consolidated financial statements
Types of Group Structures. Basic Concepts in Consolidated Accounts. Determining the Fair Value of Net Assets. Methods of consolidation.

Consolidation of Balance Sheets
Inter-company transactions, Balances and Indebtedness. Minority Interest /Minority Equity Holdings. Consolidation of holdings subsidiary relationship. Consolidation of Holdings subsidiary with Associates. Exemptions from the requirement to prepare consolidated Financial Statements.

Consolidation of Income Statements
Basic form of consolidated Income Statement. Pre and post acquisition reserves. Treatment of Accumulated profits carried Forward. Treatment of Debentures Treatment of Dividends and Debenture Interest. Consolidation of Holding subsidiary relationship. Consolidation of Holding subsidiary relationships with Associates.

Business Re organisation/ Reconstruction. Absorption and Amalgamation
Amalgamation and Absorption ( Business combinations) Schemes of Reorganisation and reconstruction.

Bankruptcy
Basic concepts and technologies. Duties of a receiver. Statement of affairs. Deficiency account.

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UGX5000 UGX10000

Enrolment validity: Lifetime