BAAC2206 - Intermediate Accounting I
BAAC2206 Intermediate Accounting I 3 Credit Hours
Prerequisite Principles of Accounting 2 (BAAC2100)
Goal To provide students with the framework for the analysis of issues in different types of accounting in order to acquire good understanding of the importance of accounting elements in any business organization.
To acquaint students with the different types of accounts like single entry, consignment, joint venture, hire purchase and branch & departmental accounting in business organizations.

A student who satisfactorily complete the course should be able to:

1.       Understand the concepts of, and maintain the accounting records under, single entry system and double entry system.

2.       Have a clear idea on the nature of consignment type of business and the preparation of consignment accounts.

3.       Know the difference between consignment and joint venture; and prepare joint venture accounts under two different methods. 

4.       Get mastery over the nature of hire purchase and instalment purchase systems in order to keep accounting books.

Familiarize the concepts on departmental accounting and branch accounting.