bac_402_module_-_JAGONGO_AMBROSE_vetted_.pdf

bac_402_module_-_JAGONGO_AMBROSE_vetted_.pdf - KENYATTA...

This preview shows page 1 - 6 out of 96 pages.

KENYATTA UNIVERSITY INSTITUTE OF OPEN DISTANCE & e-LEARNING IN COLLABORATION WITH SCHOOL OF BUSINESS DEPARTMENT ACCOUNTING AND FINANCE MODULE: BAC 402: SPECIALIZED FINANCIAL ACCOUNTING TECHNIQUES By: DR. AMBROSE JAGONGO EDITED BY J.M. THEURI PROGRAMME: BACHELOR OF COMMERCE DEPARTMENT ACCOUNTING AND FINANCE
Image of page 1

Subscribe to view the full document.

1 Joint Ventures. Consignment Accounts; Branch Accounts. Hire purchase. Investments Accounts. Royalties. Container Accounts. Accounting for long term construction contracts. Segmental reporting. Accounting for Banks and Insurance companies, Agricultural concerns. The course concentrates on accounting techniques applied to various areas of specialization applicable in business. After studying the course, the student should be able to apply the accounting principles, concepts and techniques in these specialized areas in various situations. Consignment Accounts Investments Accounts Segmental Reporting Container Accounts Joint Ventures Royalties Accounts Branch Accounts Hire Purchase and Credit Sales BAC 402 Specialized Financial Accounting Techniques Course Outline (Prerequisite BAC 303) Course Description: objective:
Image of page 2
2 COURSE DESCRIPTION : …………………………………………….. 1 LECTURE ONE : CONSIGNMENTS ……………………….. 3 LECTURE TWO : INVESTMENT ACCOUNTS ……………. 9 LECTURE THREE : SEGMENTAL REPORTING ……………. 15 LECTURE FOUR : RETURNABLE CONTAINERS ACCOUNTS.. 23 LECTURE FIVE : JOINT VENTURE ACCOUNTS ……….. 34 LECTURE SIX : ROYALTY ACCOUNTS ……………….. 43 LECTURER SEVEN : ACCOUNTING FOR BRANCHES ……. 53 LESSON EIGHT : HIRE PURCHASE AND CREDIT SALES.. 69 TABLE OF CONTENTS
Image of page 3

Subscribe to view the full document.

3 This chapter gives the accounting procedures applied to consignments. At the end of the lesson the student should be able to describe the operating, accounting and consigners accounting arrangements; valuation of stock on consignment and determination of stock loses. It is always possible, or commercially desirable, for a business to sell its goods directly to its customers, if, for example, a business wishes to sell goods abroad, establishing a sales showroom and/or office in each country may not be a viable proposition unless the volume of sales justifies such a course. One way by which these difficulties can be overcome is for the business to appoint a selling agent in the country concerned. This agent is then responsible for organizing all aspects of marketing the goods and for the collection of cash from the customers. For his services, he is remunerated on a commission basis. LECTURE ONE: CONSIGNMENTS INTRODUCTION AND LEARNING OBJECTIVES GENERAL BACKGROUND
Image of page 4
4 OPERATING ARRANGEMENTS Goods sent to an agent are usually dispatched in bulk and are termed a consignment. The party sending the goods is the consignor and the agent is the consignee. Both parties incur expenses in connection with the consignment. Periodically, the consignee sends an Account Sales to the consignor. This is a document which shows the sales made by the consignee, along with his expenses and commission.
Image of page 5

Subscribe to view the full document.

Image of page 6
  • Spring '17
  • PAUL MWANGI
  • State highways in Colorado, Containers, Consignment Accounts

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern