Lesson Plan for Financial Accounting – II

Nobel College

(Pokhara University Affiliate)

Sinamangal Kathmandu

Spring Semester - Lesson Plan for Financial Accounting – II

(To be started from 31^st March 2004)

 Program: - BBA – II

Session / Credit Hours/Periods	Course content	Activities	Monitoring Class & Home Assignment	Remarks
Day 1	Financial Accounting – II	Instructions about internal evaluation & General introduction of Course
Day 2		Accounting for inventories & cost of goods sold: Theoretical concept of inventory & cost of goods sold
Day 3		Inventory control systems: Periodic & Perpetual systems	Class and Home assignment from text books
Day 4		Inventory Valuation methods: Specific identification, Last in first out, First in first out, Weighted average/Moving average cost method	Class and Home assignment from text books
Day 5		Effect of inventory valuation methods on cost of goods sold ,Preparation of income statement
Day 6		Inventory estimation methods Gross Profit method Net realizable value method Retail inventory method Lower of cost or market value method	Class and Home assignment from text books
Day 7		Shipping agreement and transfer of ownership: FOB Shipping Point & FOB Shipping Destination Inventory errors & effects on financial statements	Class and Home assignment from text books
Day 8		Remedial Class for unit completed and end chapter quiz	Collection of Class and Home assignments
Day 9	Accounting for Current Assets	General class discussion about current assets
Day 10		Accounting for Petty cash, Certificate of deposits and Credit card sales	Assignment from text books
Day 11		Basic concept about cash books and bank statement Items that make the difference between cash books and bank statement balance Debit memoranda, Credit memoranda, Outstanding checks, Deposit in transits NSF checks, Errors
Day 12		Preparation of Bank reconciliation Statement Adjustment entries for the items recorded in BRS	Class & Home Assignment from text books
Day 13		Accounting for Accounts receivable/Debtors:- Methods to account for uncollectible account :- Direct write off method & Allowance for uncollectible accounts method	Class and Home assignment from text books
Day 14		Methods for estimation of uncollectible accounts:- % of net credit sale method,% of year end accounts receivable method	Class and Home assignment from text books
Day 15		Accounting for Notes receivable:-  Interest bearing and non interest bearing notes
Day 16		Accounting treatment of interest bearing notes:-Issuance, Maturity period, Maturity value, conversion into accounts receivable, Repayment & dishonor.
Day 17		Remedial Class for unit completed and end chapter quiz	Collection of Class and Home assignments
Day 18	Accounting for non-current assets	Basic concept of Expenditures: Capital expenditures Revenue expenditures Deferred revenue expenditures
Day 19		Types of operating assets: Property, Plant and Equipment Land Land Improvements Intangible assets( Patent, Trade marks, Franchise etc.) Natural Resources (Mine, quarry, Oil well etc.)
Day 20		Acquisition of Operating assets: Basket/ Group/ Bulk Purchase Individual purchase Self construct Donated assets	Class and Home assignments from text books
Day 21		Concept of depreciation and methods: Straight line, Written down, Production units, Sum of the year’s digits, Double decline Methods	Class and Home assignment from text books
Day 22		Accounting treatment of change in life, scrap value, Depreciation methods and its effects on financial statements	Class and Home assignment from text books
Day 23		Disposal of operating assets Dispose without value Dispose for cash Dispose in exchange of new assets	Class and Home assignment from text books
Day 24		Acquisition, amortization and disposal of intangible assets	Class and Home assignment from text books
Day 25		Remedial Class for unit completed and end chapter quiz	Collection of Class and Home assignments
Day 26	Mid-Term Assessment	Unit I,II,&III With 50 full marks		May 27 2004
Day 27	Accounting for current liabilities	Basic concept & components of current liabilities: Accounts payable, notes Payable(interest bearing and non interest bearing), Product warranty liability, purposed dividend, Payroll expenses
Day 28		Accounting treatment of current liabilities: Issuance, maturity value, conversion, repayment	Class and Home assignment from text books
Day 29	Time value of money concept (with simple and compound interest)	Present value: Present value of single amount Present value of an annuity Future value: Future value of single amount Future value of an annuity	Class and Home assignment from text books
Day 30		Remedial Class for unit completed and end chapter quiz	Collection of Class and Home assignments
Day 31	Accounting for non-current liabilities	Components of non current liabilities Bonds/Debenture payable, Lease obligation, Deferred tax liabilities, Pension obligation
Day 32		Characteristics of bonds and factors affecting bond price.	Class and Home assignment from text books
Day 33		Accounting treatment of bonds Issuance at par, discount and premium. Calculation of issue price	Class and Home assignment from text books
Day 34		Accounting for year end adjustment, payment of interest and amortization of premium and discount under: Straight line and effective interest rate methods)	Class and Home assignment from text books
Day 35		Redemption of ( callable & convertible bonds
Day 36		Accounting for lease obligation: Agreement, Payment of installments using lease amortization schedule & balance sheet presentation.	Class and Home assignment from text books
Day 37		Accounting for deferred tax and pension obligation
Day 38		Remedial Class for unit completed and end chapter quiz	Collection of Class and Home assignments
Day 39	Accounting for stock holder’s equity and dividends	Components of stock holders equity category of balance sheet, Types of stock: Common stock, Preferred stock, and Treasury stock,
Day 40		Issuance of stock at par, premium & discount for cash and non cash consideration	Class and Home assignment from text books
Day 41		Payment of dividend Cash dividend and stock dividend
Day 42		Stock dividend and stock split
Day 43		Treasury stock transactions: loss or gain on treasury stock transaction & its presentation on financial statements	Class and Home assignment from text books
Day 44
Day 45	Final assessment	With 50 full marks		16th July 2004
Day 46 – Day 48		Remedial Class for the entire course

Internal Evaluation Scheme

The internal marks of each student will be strictly based on following scheme:

1. Assessment


1. Mid – term assessment                                                            15 marks


2. Final assessment                                                                      15 marks


2. Attendance                                                                                         5 marks


3. Class and Home assignments                                                              5 marks


4. Class participation, discipline & end chapter quiz                              10 marks

Total                                        50 marks

 Note: The internal marks of each student will be transparent based on above scheme & no personal contact, request and apologies will be entertained at the end of semester.