ACC 1001 Course Outline Sem 2 2014 15

Topics: Balance sheet, Financial statements, Generally Accepted Accounting Principles Pages: 7 (1553 words) Published: March 30, 2015
INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA

COURSE OUTLINE
Kulliyyah

Economics & Management Sciences

Department

Accounting

Programme

Bachelor of Accounting (BACC)

Name of Course / Mode

Financial Accounting Fundamentals

Course Code

ACC 1001
Mdm. Putri Nor Suad binti Megat Mohd Nor
Office
: A 322
Phone
: 03-61964674
Email
: norsuad@iium.edu.my
Dr. Julia Mohd Said
Office
: A 337
Phone
: 03-61964652
Email
: julia@iium.edu.my
Dr. Salwa Hana Yussof
Office
: A 310
Phone
: 03-61964650
Email
: salwahana@iium.edu.my

Name (s) of Academic
staff / Instructor(s)

Dr. Maslina Ahmad
Office
: A 336
Phone
: 03-61964662
Email
: maslina@iium.edu.my
Dr. Hawa Ahmad @ Abdul Mutalib
Office
: A 305
Phone
: 03-61964643
Email
: hawahmad@iium.edu.my
Dr. Zamzulaila Zakaria
Office
: A 342
Phone
: 03-61964686
Email
: zlaila@iium.edu.my
Norsyahida Mokhtar
Office
: A 306
Phone
: 03-61964651
Email
: syahida_m@iium.edu.my

1

Rationale for the
This course is a foundation course for one of the key areas in inclusion of the course /
accounting.
module in the programme
Semester and Year
Offered

Semester I, II & III

Status

Core

Level

1

Proposed Start Date

Semester I 2013/14

Batch of Student to be
Affected

Semester I, II & III
Face to Face
Lectures
Assessment

Total Student Learning
Time (SLT)

39hrs

3hrs

Total Guided and Independent
Learning
Total Guided
42
Total Independent Learning 78
Total SLT
120

Credit Value / Hours

3

Pre-requisites (if any)

Nil

Co-requisites (if any)

Nil

Course Objectives

The objectives of this course are to:
1. Introduce the conceptual framework, introducing assets,
liabilities, equity, income and expenses. The components of
financial statements; statement of financial position, profit or loss and other comprehensive income, statement of cash flow, and changes of equity statement (how they relate to each other). 2. Introduce presentation of financial statements and explain why the items are presented as such. Introduce financial statement analysis and relate its importance to investor.

3. Introduce simple items like cash, inventories, receivables, payables, provisions and contingent liabilities.
4. Integrate the importance of ethical reporting and the Islamic perspective.

2

Learning Outcomes

Upon completion of this course, students should be able to:
1. Understand and apply accounting concepts in the preparation of financial statements.
2. Identify assets, liabilities, equity, income and expenses. 3. Apply the double entry rule in recording of business
transactions.
4. Prepare bank reconciliation statement.
5. Prepare statement of profit or loss and other comprehensive income, statement of changes in equity, and statement of
financial position of companies.
6. Carry out basic financial statement analysis and interpret the financial ratios.
7. Discuss the importance of ethical reporting in the accounting profession, as well as the Islamic perspective.

Transferable Skills:

The students are required to form groups, and short assignments are assigned throughout the semester to develop communication skills and team-work skills, as well as critical thinking ability.

Teaching-Learning and
assessment strategy

Lectures, problem solving, tutorial

Course Synopsis

This is an introductory course to financial accounting, which introduces students to the environment of accounting and its profession. The course covers the nature of accounting and the accounting concepts that are relevant to the preparation and presentation of financial statements. This course also exposes the students the skills of analyzing and interpreting the financial statements.

Mode of Delivery

Lecture, discussion and in-class group work.

Assessment Methods &
Assessment Marks

LO
1,2,3,5
1,2,3,5
1,2,3,4,5
1,2,3,5,6,7

Method
In-class group work (3)
Quiz (1)...
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