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INTERMEDIATE ACCOUNTING ONE

The course content consists basically of the treatment of transactions according to the provisions of accounting standards. Specifically, the published financial statements, cash flow statement and interpretation of financial statements, accounting for insurance claims and foreign branches, accounting for contract, investment, lease and hire purchase were the main focus of this course material.

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The course content consists basically of the treatment of transactions according to the provisions of accounting standards. Specifically, the published financial statements, cash flow statement and interpretation of financial statements, accounting for insurance claims and foreign branches, accounting for contract, investment, lease and hire purchase were the main focus of this course material.

Course Curriculum

ACCOUNTING AND REPORTING CONCEPTSFREE 01:30:00
This unit examines the basic concepts that guide the production and presentation of financial statements. These concepts include the objectives, elements, and attributes of financial statements, the concept of capital and capital maintenance and the IASB conceptual framework.
COMPANY ACCOUNTS AND REPORTFREE 01:30:00
This unit explores the statutory framework guiding the contents of financial statements as demanded in the Companies acts of different states
PREPARATION OF PUBLISHED FINANCIAL STATEMENTS OF INSURANCE COMPANIES 03:01:00
This unit illustrates with typical examination questions, practical application of the theoretical background on the preparation of financial statements insurance companies, including relevant notes to the financial statements in the recommended formats.
PREPARATION OF PUBLISHED FINANCIAL STATEMENTS FOR BANK AND NON- BANK FINANCIAL INSTITUTIONS 03:00:00
In this unit, we shall discuss the disclosure requirements for banks and non-bank financial institutions. We will also discuss the accounting policies peculiar to banks. And finally, we shall observe the format of published financial statements of a banks and show illustrations of how such format is presented.
BASIC PRINCIPLES AND FORMATS IN PREPARATION OF CASH FLOW STATEMENTSFREE 01:30:00
In this unit, we will discuss cash flow statement which was discussed under the usefulness of a cash flow statement, preparation of a cash flow statement and a format of cash flow statement for a limited liability company along with an illustration.
FORMAT OF CASH FLOW STATEMENT FOR BANKS AND INSURANCE COMPANIES 03:00:00
This unit illustrates the Preparation of cash flow statement which adopts the direct and indirect methods for companies, banks and insurance businesses. it shows detailed workings of the figures in the cash flow statements.
ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENTSFREE 01:30:00
In this unit, we discussed the analysis and interpretations of financial statements. This was discussed considering the nature and objectives of accounting ratios, computation of ratio analysis and the limitation of ratio analysis.
ACCOUNTING RATIO INTREPRETATION, VALUE ADDED STATEMENT AND REPORT WRITINGFREE 03:00:00
This unit demonstrates how accounting ratios are computed and interpreted. It is important to note that what is termed “ideal” ratio varies from industry to industry and sometimes on the size of the company. The illustrations in this unit are in Nigerian Currency
ACCOUNTING FOR INSURANCE CLAIMS 1FREE 01:30:00
In this unit, we shall discuss accounting for insurance claim 1. This involved discussing insurance claim, steps and procedures in computing insurance claim and claim for loss of stock. All illustrations are in Nigerian currency
ACCOUNTING FOR INSURANCE CLAIMS 2FREE 01:00:00
In this unit, we shall discuss accounting for insurance claims 2. It entails steps or procedure for computing a claim for loss of stock, stock adjustment and the accounting entries involved and the computation of claims due. All financial statement illustrations in this Unit are in Nigerian currency
ACCOUNTING FOR INDEPENDENT AND FOREIGN BRANCHESFREE 01:00:00
In this unit we shall discuss accounting for independent and foreign branches. The two methods of accounting for foreign branches were dealt with in this unit. All financial statement illustrations are in Nigerian currency
CONTRACT ACCOUNTS 01:00:00
In this unit, we shall discuss contract account. This will be treated in considerations of accounting for short-term projects, accounting for long term-term projects and mode of operation. Specifically, accounting for short-term projects will be treated with illustration to explain the accounting entries that should be made. More shall be done to substantiate the long-term projects in the following unit. The financial statement in the illustrations are in Nigerian currency
ACCOUNTING PROCEDURES FOR LONG-TERM PROJECTSFREE 02:00:00
In this unit, the use of architect’s or engineer’s certificate method and percentage of completion method are to be used.The determination of the value of work-in-progress for the balance sheet disclosure will also be examined. The criteria stated in the statement of Accounting Standard No 5: Accounting for Construction Contracts will be presented to you
SINKING FUND AND ANNUITY 02:00:00
In this unit, we shall discuss the sinking fund and annuity. This will be done considering asset replacement, the nature of investment and accounting entries for fixed interest and equities investment. The financial statement illustrations are in Nigerian currency
ACCOUNTING FOR LEASEFREE 01:30:00
In this unit we shall discuss accounting for lease. The problem of computing and charging to respective periods, of finance charges for leasing, is the focal points that were extensively discussed and illustrated in this unit. Various methods of determining finance charges in the books of lessor and lessee were demonstrated. SAS 11 which stipulates detailed appropriate treatment and disclosures of lease transactions in the books of lessor and lessee was reviewed.
ACCOUNTING FOR HIRE PURCHASEFREE 02:00:00
This unit will help you to define terminologies used in hire purchase transactions. It also explains how to Calculate the hire purchase interest attributable to each year, Compute interest payable using the actuarial method, Show relevant ledger entries in the books of the seller and buyer among others

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