Course Title

Accounting principle II

Course Number

10861121

Instructor Name

ASMAA ABDEL-HAQ

Contact Information

[email protected]

Semester(s) and academic year(s)

Second Semester 2024
First Semester 2024
First Semester 2023

Compulsory / Elective

Compulsory

This is a continuation of the course accounting principle 1 (10861111). While accounting principle one is too general, this course starts to discuss specific issues.  

The main objective of this course is to illustrate the accounting treatment for certain items, such as: inventories, cash, receivables, plant assets, natural resources, intangible assets and current liabilities.

Knowledge and Understanding, the students should be able to:

• Determine the cost of inventory and COGS using LIFO, FIFO and Weighted average in a perpetual and periodic inventory system.
• Account for cash shortage and overage.
• prepare a bank reconciliation.
• Account for receivables.
• Account for plant assets, natural resources and intangible
• Introduce current liabilities.

Intellectual skills, the students should be able to:

• Analyze the effect of each accounting transaction related to the previous topics.
• Apply the basic principles and concepts learned in Accounting 1.

Practical skills, with ability to:

• Teamwork skills, when conducting group classwork students’ teamwork skills would be improved.

Weygandt, J., Kimmel, P. &Kieso, D. (2018) financial accounting IFRS edition.4^thedn. Hoboken: John Wiley & Sons, Inc.