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Course Objectives:
This course is design to serve the needs of modern accounting principles, procedures and
methods that are applied in the preparations of financial statements and the proper uses
that can be made of financial data.

Course Contents:
1. The Environment of Accounting
2. The FASB’s Conceptual Framework of Accounting
3. Review: The Accounting Information System
4. Financial Statements
o Income Statements
o Balance Sheets
2. Reporting Issues
o The Balance Sheet issues related to Reporting
o The Income Statement
o Recognition of revenue at point of sale methods
o Recognition of revenue before delivery related to contract income,
o Recognition of revenue after delivery related to installment sale
o sale when right of return exit.
3. Working Capital management issues
4. Cash and Temporary Investments, Receivables.
5. Inventories-Cost Procedures, Valuation methods
6. Procedures, etc. current liabilities, Long term liabilities
7. Non current Assets & Liabilities:
8. Long Term Liabilities and Assets
9. Plant & Equipment
o Acquisition, use, and retirement.
o Depreciation
o Depletion and Revaluations.
10. Accounting for Special Industries, Banks, Regulated Utilities, Oil and Gas.
Transportation, Insurance, Real Estate Companies.
14. Accounting for Income Tax.

Recommended Books:
1.Intermediate Accounting by Harry Simons
2.Intermediate Accounting By Dyckman, Devis, Dukes Published by McGraw-Hill
3. International Financial Reporting Standard (2003)