DAF 1301: FUNDAMENTALS OF ACCOUNTING II Pre-requisites: DBM 114 Purpose: To develop the learners deeper understanding of the principles of book-keeping and accounts and the ability to maintain books of accounts and preparation of financial statements Course Objectives: By the end of the course unit the student should be able to:- Compile accounting data • Prepare financial statements • Interpret accounting information • Use accounting information in decision making. Course Content: • Partnership accounts; the partnership agreement, formation of a partnership, final accounts of partnerships, valuation of goodwill and change in partnership • Introduction to company accounts, Introduction to published financial statements • Financial Reporting by Manufacturing enterprise • Financial statement analysis • Cash flow Statements • Accounting for not for profit organizations • Incomplete records Teaching / Learning Methodologies: Lectures and tutorials; group discussion; demonstration; Individual assignment; Case studies Instructional Materials and Equipment: Projector; test books; design catalogues; computer laboratory; design software; simulators Recommended Text Books: • Honrgren and Sundem, G. L, Introduction to Financial Accounting, (6th Edition), New York; Prentice Hall • Larson, K.M and Pyre, D, Fundamentals of Accounting Principles, (12th Edition), Prentice Hall • Frank Woods & Alan Sangster, Business accounting,(9th ) Prentice Hall Text Books for further Reading: • Wood, Frank, Business Accounting (17th Edition), International Thompson

This is a first-year Diploma course in business course which gives the students exposure to the legal principles that bind transactions that business people engage in. The course first explores the nature of Law and introduces the student to the Kenyan legal system. Further, the course explores diverse areas of law that relate to the activities that business people engage in daily. These include the law of torts, the law of contract, the law of agency, the law of employment, and the sale of goods law The course is divided into two parts: Business Law 1 and Business Law 2. Business Law 1 is offered in the first semester and business law 2 is provided in the second trimester of study. Course objectives By the end of the course unit, the students should be able to: - a) Appreciate the legal context in which business law applies. b) Comprehend but simplify the account of rules relating to the formation, content, and enforcement of contracts. c) Illustrate how the law applies to business content. d) Appreciate the significance of business law and its contribution to the development and success of business. Course instruction will be through lectures, tutorials, group discussions, and individual assignments. Attendance and participation in lectures, tutorials, and group discussions is required. Through this, the student will understand the legal concepts. The course will be assessed as per the university examinations regulations where the continuous assessment tests carry 30 marks and the final exam carry 70 marks

Business statistics is the science of good decision-making in the face of uncertainty and is used in many disciplines such as financial analysis, econometrics, auditing, production, and operations including services improvement, and marketing research. 1.2 Uses of Statistics a) To present the data in a concise and definite form: Statistics helps in classifying and tabulating raw data for processing and further tabulation for end users. b) To make it easy to understand complex and large data: This is done by presenting the data in the form of tables, graphs, diagrams, etc., or by condensing the data with the help of means, dispersion, etc. c) For comparison: Tables, measures of means, and dispersion can help in comparing different sets of data. d) In forming policies: It helps in forming policies like a production schedule, based on the relevant sales figures. It is used in forecasting future demands. e) Enlarging individual experiences: Complex problems can be well understood by statistics, as the conclusions drawn by an individual are more definite and precise than mere statements of facts. f) In measuring the magnitude of a phenomenon:- Statistics has made it possible to count the population of a country, the industrial growth, the agricultural growth, the educational level (of course in numbers) 1.3 Limitations of Statistics 1. Statistics does not deal with individual measurements. Since statistics deals with aggregates of facts, it cannot be used to study the changes that have taken place in individual cases. For example, the wages earned by a single industry worker at any time, taken by itself is not a statistical datum. However, the wages of workers in that industry can be used statistically. Similarly, the marks obtained by Kamau of your class or the height of Atieno (also of your class) are not the subject matter of statistical study. But the average marks or the average height of your class has statistical relevance.