Yakili | Lowersixth Commercial Acc Corporate Accounting

Course / Course Details

Lowersixth Commercial Acc Corporate Accounting

By - Michael Rolex
0 students
166 Hours 40 Min
(0)

Course Requirements

The course for Cameroon Lower Sixth Commercial Corporate Accounting on the Yakili app must introduce the fundamental concepts and statutory requirements governing the accounting for Joint Stock Companies (Public and Private), aligning with both the GCE syllabus and local commercial law (OHADA). This is an extension of Financial Accounting, focusing on the specific legal entity of a company.

The syllabus must cover the distinct features of corporate finance and accounting as opposed to a sole proprietorship.

Core Modules for Lower Sixth Corporate Accounting

Module	Key Topics (Examples)	Corporate/OHADA Focus
1. Introduction to Companies	Definition and Legal Status of a Company (Separate Legal Entity). Types of Companies (Private vs. Public). Formation and Statutory Requirements (Memorandum/Articles of Association - basic concept).	Understanding the legal framework governing corporations in Cameroon.
2. Share Capital	Types of Shares (Ordinary/Equity, Preference). Issue of Shares (at par, at premium, at discount). Calls on shares, Forfeiture of Shares, and Reissue of Forfeited Shares.	Accounting for the fundamental source of corporate financing.
3. Loan Capital (Debentures)	Types of Debentures. Issue of Debentures. Distinction between Shares and Debentures. Simple accounting treatment of debentures.	Accounting for long-term debt financing.
4. Reserves and Provisions	Capital Reserves vs. Revenue Reserves. Creation and utilization of various statutory and general reserves (e.g., Share Premium Account). Simple provisions.	Distinguishing between retained earnings and legal allocations of profit.
5. Company Final Accounts (Preparation)	Preparation of the basic Trading, Profit and Loss Account, and Appropriation Account (showing dividends, transfers to reserves). Introduction to the Company Balance Sheet presentation.	Preparing financial statements according to the format required by law (OHADA/Local standards).
6. Statutory Books & Records	Basic knowledge of the mandatory books a company must keep (e.g., Register of Members, Minute Books).	Understanding the legal record-keeping obligations of a company.

The course needs to make the legal and complex share issue process practical and clear.

Simulation of Share Issue: Integrate an interactive simulation where students process a typical share issue scenario (e.g., an oversubscribed issue, a call in arrears, and a subsequent forfeiture), performing the necessary journal entries at each step.
Company Document Snippets: Provide visual examples or snippets of key corporate documents (e.g., a share certificate, an extract from the Balance Sheet showing share capital) to connect the entries to the real world.
T-Account Visualization: Use animated T-Accounts to clearly trace the flow of cash and capital during the complex issuance, call, and forfeiture processes.
Legal vs. Accounting Distinction: Clearly delineate the role of the Registrar of Companies (legal) versus the Accountant (recording).
OHADA Final Account Format: Provide downloadable templates for the Company Final Accounts, emphasizing the specific legal presentation format required under OHADA or local GCE standards.

Course Description

This Yakili online course, developed for the Cameroon GCE Advanced Level Commercial stream Accounting syllabus, provides a crucial introduction to Corporate Accounting, focusing on the unique financial and legal requirements of Joint Stock Companies (Public and Private). Moving beyond the simple accounting of sole proprietorships, this course delves into the legal framework of company formation (guided by OHADA Law), and the specialized accounting required for Share Capital (including the complex process of issuance, calls, forfeiture, and reissue) and Loan Capital (Debentures). The curriculum clarifies the accounting treatment of various Reserves and Provisions and culminates in the preparation of a company's basic Final Accounts (Trading, Profit and Loss, and Appropriation Account) and the Balance Sheet, adhering to the specific legal presentation formats. Delivered through interactive simulations and practical problem-solving focused on corporate transactions, this course ensures students understand the corporate entity's distinct reporting obligations for success in the GCE examination.

Course Outcomes

Upon completion, the student will be able to:

Corporate Formation: $\checkmark$ Explain the legal concepts of a Separate Legal Entity and the key differences between private and public companies.
Share Capital Accounting: $\checkmark$ Accurately record the issue of different types of shares (at par or premium) and execute the accounting procedures for Calls in Arrears, Forfeiture, and Reissue of shares.
Corporate Finance: $\checkmark$ Distinguish between shares and debentures and account for the basic issuance of loan capital.
Reserve Management: $\checkmark$ Identify and account for the creation and purpose of statutory reserves, including the Share Premium Account.
Financial Statement Preparation: $\checkmark$ Prepare the basic Trading and Profit and Loss Account and the Appropriation Account for a company, showing dividends and transfers to reserves, and present the basic structure of the Company Balance Sheet.