University of Gujrat

MBA- Semester I

Course Description: Financial Accounting

Course Code: MGT-315, Credit Hrs. 3

Instructor: Muhammad Imran Siddique

Email: hailian154@gmail.com

Office Location: Faculty Room Number E-109

Hafiz Hayat Campus,Gujrat.
Course Objective: This course discusses basic principles of accounting includes the
concepts, terminologies, methods, & how to the use of accounting information as a
basis for business decisions. Most important goal of the subject is to provide students
a better understanding of the environment in which accounting information developed
& used.

Recommended Text Book

• Robert F. Meigs and Walter B. Meigs: Accounting: The Basis for Business
Decisions
• Flamholtz, Michael A. Diamond: Principle of Accounting
• Frankwood: Business Accounting-I and Business Accounting-II

Course Evaluation

1. Assignments & Presentations

• Group work: You should work in groups of five to ten. Each group will be
required to work on assigned topics & make presentation according to the
instructions.
• There will be at least 1 presentations, will carry 10 marks out of 25 sessional
marks.
• Assignment work: You should work group wize regarding submission of
assignments. There will be approximately five to eight assignments during the
semester.
• You will be required to provide the assignments on printed paper along with
the appropriate title page contain information about name of instructor, name
of student, his discipline, roll #, date of submission, and topic of assignment.
• Academic Honest is expected from all students. It is the ethical behavior that
includes producing their own work & not representing others’ work as their
own, either by plagiarism or by cheating.
• No excuse will be for late work except very genuine reason. You have to
submit your assignment either individual or group on due date.
• Assignments will carry 10 marks out of 25 sessional marks.
2. Quiz Information
• Each quiz will contain multiple choice and/or true false questions and/or
terminologies or terms worth and/or theoretical questions. Definitely quiz will
be commencing after you have read & studied the appropriate chapter.
• There will be five to six quizzes during the semester.
• The time allocated for each is 40 minutes. This is more enough time to
complete quiz.
• Any student found cheating on quiz will receive a grade of zero and such type
of incident will be reported in their evaluation at the end of semester to QEC.
• No opportunity will be provided to make up for missed points from this part of
your grade that arise because you miss class, other than for genuine reason
• Quizzes will carry 5 marks out of 25 sessional marks.
 3. Class Attendance & Participation
• Students are expected to attend every class unless you have an excused
absence due to illness or an emergency.
• The minimum 70% of class attendance is required.
• To be successful it is expected that you will participate in all interactive
aspects of the course. Communicate with instructor & with your fellows as a
learning resource.

Tips for success: Plan on spending about four hours weekly on this course, outside of
class. Be an active learner in class. Focus on following class discussion. Attempt the
exercise questions of relevant chapters before class, on your own. Give each question
a reasonable effort before you look at the answer, but don’t spin your wheels. Most
students will benefit from working in study groups.
****** Late entrance in the class will not be encouraged.

We are ALWAYS available to help you and meet with you. If you attend class and don’t
understand material, you should see us with questions. We are more than willing to spend
time with you in order to help you understand this material. If you don’t attend class, you
should consult with one of your classmates. It is impossible for us to spend our time
repeating class on an individual basis for those who decide not to attend.

Course Content: Dates of study are approximate & subject to change. More or
less time will be spent on specific topics based on the interests & abilities of the
class

Week Course Description Source

1-2 Introduction to course: Definition of Accounting, purpose of accounting, Slides
various branches of accounting, importance of accounting, source of Ch#13
accounting rules, difference between book keeping & accounting, & basic
terminologies of Accounting, Accounting concepts and principles.
3 Accounting Process: Business transaction, Single & Double entry system, Slides
Accounts, Classification of Accounts, Accounting Equation, Ch# 02
Rules of debit & credit, Recording the changes in financial positions,
Financial Statements.
4-5 Accounting Process: Accounting Cycle, Journal, why we use journal, Slides
Procedure of recording transactions into journal, Preparing ledgers, Ch# 02
difference between journal & ledger, Trial balance, Uses & limitation of
trial balances.
6 Accounting Process: Measuring business Income, what are net income, Slides
revenue & expenses, Realization & Matching principle, and rules of debit Ch# 03
& credit, Preparation of financial statements without adjustments
7-8 Accounting Process: Accrual basis of accounting, Adjusting entries, their Slides
types, adjusted trial balance, & Completion of accounting cycle. Ch# 04
Preparation of worksheet, Closing entries, Types of Closing Entries &
preparation of closing balances.
9 Mid-Term Exam
10 Accounting for Assets: Accounting for Merchandise, Definition of Slides
Inventory, Flow of inventory cost, different Type of inventory systems, Ch#05 & 09
perpetual & periodic inventory system, Inventory valuation methods,
classified financial statements
11-12 Accounting for Assets: Bank Reconciliation Statement, Definition of Slides
Depreciation, Types of depreciation methods Ch#07 & 10
13-14 Accounting for corporations: Corporation, advantage & disadvantage of Slides
Corporation, Preparation of stock holder equity section of corporation. Ch# 14 & 15
15-16 Measuring Cash Flow statement Slides
Ch# 19