THARAKA UNIVERSITY

FACULTY OF AGRICULTURE

DEPARTMENT OF AGRICULTURE

BACHELOR OF AGRICULTURE AND EXTENSION

COURSE OUTLINE

CREDIT FACTORS : 3.0 CONTACT HOURS 45

Unit Code & Title AGBM 121:FINANCIAL ACCOUNTING

Prerequisite None

Lecturer Name Dr. JEPHITHA KIRIMI

Contact Email & jephkir@gmail.com

Telephone +254 722237097

Course Purpose
This is an introduction course to fundamentals of accounting. The course is intended to introduce
learners to concepts, knowledge, skills and attitudes of accounting. The competencies acquired
expose learners to the accounting equation, accounting cycle, Trial balance errors, and preparation
and Interpretation of basic Financial statements for Sole Traders.

Course Learning Outcomes

By the end of the course, the learner should be able to:-

i. Explain the nature, scope and purpose of accounting.

ii. Justify the need for a conceptual framework of accounting.
iii. Describe the stages involved in the accounting cycle.
iv. Describe the accounting errors.
v. Prepare the final accounts for sole traders.

Course Content
Nature, scope and purpose of accounting, Users of accounting information and their specific needs,
Accounting principles and concepts for financial reporting, Accounting Cycle: journalizing,
posting to ledger accounts, trial balance, end of period adjustments, Accounting for errors and
profits adjustment, Bank reconciliation statements, Control accounts, Preparation of final accounts
for sole traders, Manufacturing accounts, Accounting for: inventories, receivables, fixed assets
depreciation, provision for debts, Preparation of trading and profit and loss accounts and balance
sheet for Partnership and Companies.
 Course Schedule
Week Topic Specific learning outcomes Learning Experiences
Physical/Virtual
1&2 NATURE, • Demonstrate an Class discussions, group
SCOPE AND understanding of activity, presentations
PURPOSE accounting concepts and class assignments.
OF • Explain the
ACCOUNTI relationship between
NG accounting and other
disciplines
• Describe the various
users of accounting
information and their
specific needs
• Demonstrate an
understanding of
accounting equation
• Explain the role of the
double entry system

3&4 THE CONCEPTUAL • Discuss the need for a Class discussions, group
FRAMEWORK OF conceptual framework activity, presentations
ACCOUNTING of accounting and class assignments.
• Explain the objectives
of conceptual
framework of
accounting
• Explain the
fundamental concepts
of accounting

CAT I
5&6 ACCOUNTING CYCLE • Prepare the books of Class discussions, group
original entry and post activity, presentations
to ledger accounts and class assignments.
• Prepare trial balance
• Perform end of period
adjustments.
 • Prepare final accounts
of a sole trader –
income statement
- Statement of
financial
Position

7 • Analyse errors not Class discussions, group

affecting trial balance activity, presentations
ACCOUNTING and class assignments.
• Explain errors affecting
ERRORS AND
trial balance
RECONCILIATION
• Prepare journal entries
to correct errors
• Prepare a duly balanced
suspense account

8&9 Partnership Account • Definition of Class discussions, group

partnership activity, presentations
• Contents of partnership and class assignments.
agreement Field trips
• Accounting for
partnerships
• Format for Final
Accounts for
partnership
• Illustrations
CAT 2

10 Control Accounts • Discuss the reasons for Class discussions, group

preparing control accounts activity, presentations,
Research and class
• Prepare Debtors ledger
assignments.
control account
• Prepare Creditors ledger
control account
 11 Bank • Discuss the reasons for Class discussions, group
Reconciliation bank reconciliation activity, presentations
statement statement and class assignments.
• Prepare bank
reconciliation statement

12 Accountin • Definition and purpose

g for of Manufacturing
manufactu Account
ring • Essential terms applicable
concerns in Manufacturing
Account
• Formats for final
Accounts in
Manufacturing Accounts

13,14&15 End of Semester Examinations

Mode of delivery

This course will be delivered through weekly lectures and class discussion as well as assignments
and group activities. Students are encouraged to actively participate in class discussions.
Individual student and group presentations, problem-based learning, and student-led discussion
groups will also be common approaches to content delivery in the course. Interactive lecture
methods with student participation is highly encouraged.

Instructional materials and/ or equipment

LCD projector, Smart Board, white board markers, Text books and Journals.

Course Assessment

Type Weighting (%)

Continuous Assessment Tests (CATs) 15
Other Assessments (Practicals, Assignments, Projects etc.) 15
 End of Semester Examination 70
TOTAL 100

Core Reading Materials

1. Frank wood and Sangster, Business Accounting Volume 1. 13th Ed (2015) Pitman
publishers
2. Kimunda M. Daniel, Foundations of Accounting (2016). East African Educational
Publishers
3. Nzomo N.D. Basic Accounting (2012) U.O.N press
4. Elliot B. Fiancial Accounting for reporting and analysis 15th Ed.(2018) prentice Hall

Recommended Reference Materials

1. John,J.W & Ken,W.S,(2018) Fundamentals of Accounting Principles: McGraw Hill Irwin
2. Krishna, R. (2016) Fundamentals of Accounting. Guru Publishers

Professional Ethics
1. Punctuality is fundamental and students are required to be in class before the designated time
for the lecture.
2. Active participation in class discussions is encouraged.
3. Learners should refrain from signing the attendance register on behalf of colleagues who are
not Present.
4. Plagiarism is a serious academic offence and highly discouraged. Plagiarized work shall NOT
be accepted. Notwithstanding the above, collaboration in course work is certainly encouraged
as this promotes team spirit and group synergy, provided originality is preserved.
5. Assignments should be handed in on or before the date they are due. Students can hand in
their assignment through their class representative. Assignments handed in late shall NOT be
accepted.

Prepared By: ………………………………………… Signature: ………………..

Lecturer
Date: …………………………….

Approved By: …………………………………………… Signature: ………………..

Chair of Department (CoD)
Date: …………………………….

Stamp