MAKERERE UNIVERSITY

COLLEGE OF ENGENEERING ,DESIGN AND TECHNOLOGY

COE3200 FUNDAMENTAL ACCOUNTING PRINCIPLES 1 (4 CU)

Course Objective
The course is designed to provide students with the ability to understand basic concepts of accounting and posting
of accounting transactions from primary books to ledgers. Students will also be taught Preparation and presentation
of financial statements and bank reconciliation statements for both profit and non-profit making entities.

Assessment Methods
Use of coursework assignments, quizzes and tests (30%), and final examination (70%).

Facilitator: Dr, Nuwagaba Geoffrey

COURSE CONTENT/ OUTLINE

1.0 Introduction to Financial Accounting
a) What accounting is
b) Users of accounting information
c) Desirable qualities of Accounting information
d) Different branches/ disciplines within accounting
2.0 Accounting Regulatory Framework (Accounting rules)
a) Key terms in the Accounting Regulatory Framework
b) Accounting principles/ Conventions/ Concepts
c) Accounting standards (IAS, International Accounting Standards Board (IASB), the Standards Advisory
Council (SAC) and the International Financial Reporting Interpretations Committee (IFRIC))
3.0 Fundamental Accounting Equation and Elementary Treatment of the Statement of Financial Position.
4.0 Double Entry system and the accounting cycle
5.0 Preparation of Books of Account.
5.1 Journals – Books of Original Entry (Day books,General Journal, Cashbooks)
5.2 Ledgers (General Ledger, Subsidiary Ledgers, Cash books, The petty cash book)
6.0 The Trial balance
7.0 End of Year Adjustments / Provisions
8.0 Preparation of final accounts / financial statements incorporating End of Year Adjustments / Provisions
9.0 Bank reconciliation
BASIC REFERENCE BOOKS
1. Frank, W., & Sangster,A.(2000) Business Accounting I United kingdom 9th edition Prentice hall
2. Frank Wood and Allan, S. (2002) Business Accounting I. 9th Edition. PRENTICE HALL, London, UK.
3. Frank, w. (2000) Business Accounting II United Kingdom, 9th edition, prentice hall.
4. Wild. (2007). Financial accounting fundamentals. Mc Graw hill
5. Wild,F. and Shaw,K. (2008) Fundamental Accounting Principles with Best Buy Annual Report
6. Wild,J.J. Larson,K.D. and Chiappetta,B. (2006) Fundamental Accounting Principles
7. Betsy, L, Tan Sai Kim, et al (2001), Principles of Accounts, 4th Edition, OXFORD UNIV. PRESS, Singapore
8. ACCA (The Association of Chartered Certified Accountants), Paper F3 INT. Financial Accounting – The
Complete Text – 2007/2008
9. Omonuk, Ben (1999): Fundamental Accounting Principles Vol 2.
10. Wahab, M. A (2000), A Straight Approach to Accounting, Vol. 1, T & E PUBLISHING, Kampala, Uganda
11. Sserwanga, A et al (2005) Introduction to Financial Accounting 1st Edition