SCHEME OF

WORK

PAPER 122- PRINCIPLES OF ACCOUNTING / FUNDAMENTAL ACCOUNTING PRINCIPLES

LECTURE PLAN: AUGUST - DECEMBER 2019
Lecturer Name: Mwansa M. Mwansa FZICA, BBAA, MBA, ACCA
Email: mwansa.mwansa@yahoo.com / mulamfu.mwansa@zcas.edu.zm
Cell: 0977 782806

WEEK DATE LESSON TOPICS AND OBJECTIVES REFERENCES AND

TEACHING AIDS EVALUATION

Week beginning Introduction

1 5th August, 2019
Overview of the Accounting Profession Recommended Reading
(i) Definition of financial accounting  Needles, B. E. Powers,
(ii) Objectives of financial accounting M. and Crosson, S. V.
(iii) Users of financial information (2011) Principles of
(iv) Elements of financial information Accounting. Seattle:
Amazon Publishing.

Week beginning Financial accounting and Business  Wood, F. and Sangster,

2 12th August, 2019 (i) Describe the meaning of: A. (2015) Business
Income/Profits, Expense/losses, Accounting 1, 13th
Trade receivables, Trade payables, Edition. London:
Sales and Purchases in accounting Pearson.
context.
(ii) Explain the meaning of the
accounting equation and the Supplementary
statement of financial position.

BAC 122 Principles of Accounting Page 1

 3 Week beginning
19th August, 2019
4 Week beginning
26th August, 2019
Week beginning
5 2nd September, 2019
Week beginning
6 th
9 September, 2019
7 Week beginning
16th September, 2019
BAC 122 Principles of Accounting
The Double entry system for Assets, TEACHING AIDS
Liabilities and Capital.  White Board Assignment 1 Issued
(i) The double entry system  Overhead Projector
(ii) The accounts for Debiting and  Flip Chart
Crediting  Learning Video
(iii) Balancing-off accounts
(iv) Preparing a trial balance from a set
of account balances
Income statement: an introduction
(i) Calculate cost of goods sold, gross
profit and net profit
(ii) Capital expenditure and revenue
expenditure
Statement of financial Position
(i) Layout of the SOFP – non-current
assets, current assets, current
liabilities, non-current liabilities
and capital
(ii) Drawing up a SOFP from
information the trial balance
Income statement and SOFP: further
considerations
(i) Bad debts, Provision for doubtful
debts, Provisions for discount on
accounts receivables and Provision
for Discount Trade Payables
(ii) Depreciation of non-current assets:
nature and calculations
(iii) Accruals and prepayments
Maintaining Financial records Assignment 1 due for
(i) Describe the type of accounting submission(Late
Page 2
 records that a business should Submission will not be
maintain and the main uses of each. Accepted)
 Source documents
 Day Books
 Ledgers
 Trial balance
 Financial Statements (Final
Accounts)
(ii) The books of prime entry and flow
of accounting information in the
production of financial statement.

8 Week beginning
23th September, 2019

9 Week beginning
30st September, 2019

10 Week beginning Preparation of ledger control accounts Feedback to Assignment

7th October, 2019 (i) Explain the purpose and use of 1 released to students
ledger control accounts
(ii) Explain the purpose of
reconciliation of the receivables and
payables ledgers

11 Week beginning The key Accounting principles and Semester Break

14th October, 2019 concepts
Explain the accounting principles of
accounting.
(i) Going concern
(ii) Accruals
(iii) Consistency
(iv) Double entry

BAC 122 Principles of Accounting Page 3

 (v) Business entity
(vi) Prudence
(vii) Materiality
(viii) Historical cost

12 Week beginning Test (21st -28th October

21st October, 2019 , 2019) No classes
during this week

13 Week beginning Maintaining a petty cash book Classes resume

29th October, 2019 (i) Enter and analyse petty cash book
including any VAT effect where
applicable.
(ii) Balance off the petty cash book
using imprest system
(iii) Reconcile the petty cash book with
cash in hand

14 Week beginning Bank reconciliation statements

4th November, 2019 (i) Explain why bank reconciliations
are prepared.
(ii) Reconcile cash book balances with
bank statements balances
15
Week beginning Sales Tax (VAT)
11th November, 2019 (i) Elements of VAT
(ii) Accounting for VAT

16 Week beginning Feedback to Test

18th November, 2019
Last Day of
classes/lectures

BAC 122 Principles of Accounting Page 4

 Lecturers to provide
total CA marks to
students

BAC 122 Principles of Accounting Page 5