Learning Outcomes
On completion of this course, the learner should be able to:
Explain the role of accounting and accountants.
Describe the financial reporting framework.
Explain the qualitative characteristics of financial information.
Explain the different forms of business organisations.
Record transactions in the books of prime-entry and ledgers using double entry bookkeeping.
Prepare a trail balance and correct errors in accounting records.
Prepare financial statements for business organisations, manufacturing concerns, non-profit making organisations, and partnerships.
Reconcile financial transactions.
Prepare accounts and financial statements from incomplete records.
Understand and apply the general features of financial statements.
Apply international financial reporting standards.
Course Overview (Video)
Course Curriculum
Unit 1 - The Accounting Cycle
Unit 2 - The Regulatory Framework
Unit 3 - Qualitative Characteristics
Unit 4 - Books of Prime-entry
Unit 5 - Ledger Accounting
Unit 6 - Double Entry
Unit 7 - Trial Balance Extraction
Unit 8 - Correction of Errors
Unit 9 - Bank Reconciliation
Unit 10 - Control Accounts
Unit 11 - Non-current Assets
Unit 12 - Accruals and Prepayments
Unit 13 - Bad Debts and Doubtful Debts
Unit 14 - Final Accounts
Unit 15 - Accounts of a Sole Trader
Unit 16 - Manufacturing Accounts
Unit 17 - Accounts of Non-profits
Unit 18 - Partnership Accounts
Unit 19 - Company Accounts
Unit 20 - Incomplete Records
Unit 21 - Cashflow Statements
Unit 22 - Inventories
Unit 1 - Introduction to Financial Accounting
Lecture 1 - The Accounting Cycle
Lecture 2 - Business Entity
Lecture 3 - Branches of Accounting
Lecture 4 - Uses and Stake Holder Needs
Lecture 5 - Corporate Governance
Lecture 6 - Elements of Financial Statements
Unit 2 - Regulatory Framework In Uganda
Lecture 1 - Need of Regulatory Framework
Unit 3 - Qualitative Characteristics
Lecture 1 - Underlying Assumptions
Lecture 2 - Fundamental Characteristics
Lecture 3 - Enhancing Characteristics
Unit 4 - Sources, Documents and Books of Prime Entry
Lecture 1 - Books of Prime-entry
Lecture 2 - Three column cash book
Unit 5 - Ledger Accounting
Lecture 1 - Ledger Accounts
Unit 6 - Double Entry
Lecture 1 - Rules of Double Entry
Lecture 2 - The General Journal
Lecture 3 - Journalizing Transactions (Part 1)
Lecture 4 - Journalizing Transactions (Part 2)
Lecture 5 - Posting to Ledger Accounts
Lecture 6 - Balancing Off Accounts
Unit 7 - Trial Balance Extraction
Lecture 1 - Trial Balance Extraction
Unit 8 - Correction of Errors
Lecture 1 - Errors NOT Affecting Trial Balance
Lecture 2 - Errors Affecting Trial Balance
Lecture 3 - Correcting Journal Entries(Part 1)
Lecture 4 - Correcting Journal Entries (Part 2)
Lecture 5 - The Suspense Account
Lecture 6 - Statement of Corrected Net Profit
Unit 9 - Bank Reconciliations
Lecture 1 - Bank Reconciliation Explained
Lecture 2 - Worked Example
Unit 10 - Control Accounts
Lecture 1 - Control Accounts Explained
Lecture 2 - Preparing Control Accounts
Unit 11 - Non-Current Assets
Lecture 1 - Non-Current Assets Explained
Lecture 2 - Preparing Non-Current Asset Account
Lecture 3 - The Accumulated Depreciation Account
Lecture 4 - The Disposals Account
Unit 12 - Accruals And Prepayments
Lecture 1 - Accruals and Prepayments Explained
Unit 13 - Bad And Doubtful Debts
Lecture 1 - Writing off Bad Debts
Lecture 2 - Treatment of Doubtful Debts
Unit 14 - Preparation of Financial Statements
Lecture 1- Preparing Final Accounts
Unit 15 - Accounts of a Sole Trader
Lecture 1 - The Statement of Profit or loss
Lecture 2 - The Statement of Financial Position
Lecture 3 - Preparing Profit or Loss (Activity)Preparing Profit or Loss (Activity)
Lecture 4 - Financial Position (Activity)
Unit 16 - Manufacturing Accounts
Lecture 1 - The Manufacturing Account
Lecture 2 - The Trading Account
Lecture 3 - The Profit or Loss Account
Lecture 4 - Preparing Manufacturing Account
Lecture 5 - Preparing Profit or Loss Account
Unit 17 - Accounts of Non-Profits
Lecture 1 - Income & Expenditure Account
Lecture 2 - Subscriptions Account
Lecture 3 - The Statement of Affairs (Activity)
Lecture 4 - Preparing Subscriptions Account
Lecture 5 - The Statement of Financial Position
Unit 18 - Partnership Accounts
Lecture 1 - Partnership Accounts Explained
Lecture 2 - Partnership Adjustment
Lecture 3 - Retirement & admission of new partner
Lecture 4 - Dissolution of partnership
Lecture 5 - Dissolution of partnership(example)
Unit 19 - Company Accounts
Lecture 1- Limited vs Unlimited Liability
Lecture 2 - Categories of Share Capital
Lecture 3 - Accounting for Share Issue
Lecture 4 - Capital Reserve Accounts
Lecture 5 - Statement of Changes in Equity
Unit 20 - Incomplete Records
Lecture 1 - Incomplete Records Explained
Lecture 2 - Opening Capital Unknown
Lecture 3 - Cash Book Balance unknown
Lecture 4 - Credit Sales & Purchase Unknown
Unit 21 - Cashflow Statements
Lecture 1 - The Cash Flow Statement
Lecture 2 - The Indirect Method (Activity 1)
Lecture 3 - The Direct Method (Activity 2)
Unit 22 - Inventories
Lecture 1- The Cost of Inventories
Lecture 2 - The Net Realizable Value (NRV)
Unit 23 - Entrepreneurship
Course Resources
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Frequently Asked Questions
The course starts now and never ends! It is a completely self-paced online course. You decide when you start and when you finish.
If you pay for a Tutor support plan, you will get to attend weekly live interactive sessions with your Tutor in addition to following your own study plan.
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Target Group
The course has been designed for students undertaking Financial Accounting under CPA(U) professional course and has been built around the official CPA(U) syllabus. The course is also designed for students pursuing a foreign accountancy qualifications such as ACCA and students undertaking financial accounting at institutions of higher learning.
CPA Innocent Mugisha is a Professor of Finance and Accounting with over 10 years' experience in teaching Accounting, Finance, Taxation, Auditing and Statistics related courses including hands-on courses on common accounting system such as tally, quickbooks and sunsystems both at University and Professional level. His qualifications are; PhD (candidate), MBA(Finance), CPA(U), FCCA, CIPS, CTA and BCOM (Accounting). Innocent has also published various books on most topics in Accounting and Finance for Business and Professional Studies.