B.Sc.: Major in Accounting
All courses in this section require Introduction to Accounting II (AC1202) as a prerequisite. See course description for individual prerequisites. All courses are 3 credits.
**There are two courses in taxation. Students are required to pass one course of their choice in Taxation. The second one is counted as elective for major in Accounting.
Description of Core Accounting Courses
AC1201 Accounting I, 3 Credits
This course will introduce students to the first part of introductory accounting and deal with the following topics: accounting, an introduction to its concepts; recording transactions; adjusting the accounts and preparing the statements; worksheets and closing accounts of proprietorships, partnerships, and corporations; accounting for merchandising concerns; accounting systems; accounting for cash; temporary investments and receivables; inventories and cost of goods sold; plant and equipment, natural resources, and intangible assets; current and long-term liabilities; payroll accounting; and partnership accounting.
AC1202 Accounting II, 3 Credits
This course will introduce students to the second part of introductory accounting and deal with the following topics: organization and operations of corporations; additional corporation transactions; reporting income and retained earnings; earnings per share; bonds as liabilities and investments; the statement of changes in financial position; introduction to equity investments, consolidations, and international operations.
AC2201 Management Accounting, 3 Credits
This course introduces basic concepts in cost and management accounting: cost concepts and classifications; cost accounting cycle; cost-volume-profit analysis; activity-based-costing; accounting for materials; inventory models; accounting for labor; productivity, incentive schemes and learning curves; accounting for manufacturing overheads; allocation of overhead costs; job costing; process costing; joint and by-product costing; Hybrid costing.
Description of Elective Accounting Courses
AC3201 Intermediate Accounting I, 3 Credits
This course examines in depth analyses of accounting issues introduced in introductory accounting. The following topics will be developed: the accounting process, financial accounting and reporting, the income statement and statement of retained earnings, the balance sheet and statement of cash flows, revenue recognition and income determination, cash and receivables, inventory valuation and departures from historical cost and methods of estimating inventory cost.
AC3202 Intermediate Accounting II, 3 Credits
This course encompasses further analyses of specific accounting issues. Capital as sets: acquisition, subsequent to acquisition; other assets and natural resources; investments; current liabilities and contingencies; bonds (investments and payables) and long term notes payable leases; accounting for income taxes; shareholders’ equity including contributed capital and retained earnings and dividends; the statement of cash flows; calculating and reporting earnings per share.
AC3203 Advanced Management Accounting, 3 Credits
This course studies in more depth cost accounting concepts and focuses on their use in management; absorption and variable costing; costs for decision making; budgetary principles and concepts; flexible budgets and standard costing variance analysis including material, labor, overhead, and sales; variance investigation; organizational structure and performance measures; transfer pricing; management accounting and new environment (just-in-time, quality costs); information businesses use to achieve competitiveness and profitability in global economy with an emphasis on activity-based information for customer-focused production systems in manufacturing and service enterprises.
AC3204 International Financial Reporting Standards, 3 Credits (International Accounting Standards)
Reporting practices vary significantly throughout the world. Kazakhstan now requires that International Accounting Standards be used in business transactions. This course bridges the gaps between the Chart of Accounts, GAAP methods and the methods used in International Financial Reporting Standards. Upon completion, the students will be prepared to conduct business in Kazakhstan using past records and current methods.
AC3205 Principles of Taxation, 3 Credits
This is a survey of the tax structure including concepts and policies, which shape the tax law; emphasis will be on general concepts applicable to all taxpayers and on the taxation of individuals.
AC4203 Auditing, 3 Credits
This course covers auditing standards and procedures observed by Public Accountants in the examination of financial statements of business and other organizations; audit standards, objectives, and conceptual framework for collection of evidence and assessment of control risk; and short-form audit report and operational auditing.
AC4205 Internal Auditing, 3 Credits
This course covers the establishment of an internal audit organization; staff selection and development; planning and controlling the audit; development of facts and supporting evidence; sampling plans and procedures; computer audits.
AC3210 Taxation in Kazakhstan, 3 Credits
This course is a continuation of the study on the tax structure and the concepts and policies that shape the law. Emphasis will be on the taxation of property transaction, accounting periods and methods, corporate formulation and income taxation, and the taxation of partnerships and corporations. It also covers statutes, regulations, administrative rulings, and court decisions related to income taxes of partnerships and corporations; procedural problems, tax management and planning; and tax shelters.
AC3299 Selected Topics in Accounting, 3 Credits
The course examines particular issues in accounting. Topics vary according to the interests of the students and instructors.
AC4201 Advanced Accounting I, 3 Credits
Advanced Accounting courses are intended for students who wish to pursue accounting careers. The ultimate objective is to help students confronted with conflicting demands and multiple alternatives to develop professional judgment. Advanced Accounting I develops further inter-corporate investments and deals with the area of international accounting. The following topics will be studied: pooling of interests, consolidated financial statements, intercorporate investments, factors affecting ownership interests, segmented and interim reporting, accounting for international activities, foreign currency transactions, translating foreign operations, and reporting foreign operations.
AC4202 Advanced Accounting II, 3 Credits
Pursuing the objective of helping students to develop professional judgment; Advanced Accounting II focuses on the broad issues of financial reporting and introduces the issues of inter-corporate investments. The following topics will be studied: Financial reporting by business enterprises; impact of industry characteristics on financial reporting; Financial reporting for non-business organizations; public sector financial reporting; fund accounting; Introduction to inter-corporate investments; business combinations; and consolidation of subsidiaries at date of acquisition and later years.
AC4206 Accounting Theory, 3 Credits
This course covers financial reporting; studies of the accounting valuation process; accounting income measurement, and financial disclosure. Contemporary issues are examined in the context of factors that shape accounting standards and current trends in financial reporting.
AC4204 Advanced Auditing, 3 Credits
This course covers audit objectives and procedures for collection of evidence and assessment of control risk; preparation of audit programs; effects of attribute and variables sampling on the audit process; auditing, compilation and review reports; effects of the computer and computer-control procedures on the audit process; techniques for the assessment of control risk and the collection of audit evidence in a computerized processing environment; and case studies requiring microcomputer and mainframe auditing.
AC4207 Financial Reporting and Analysis, 3 credits
The course introduces students to accounting issues in the context of different countries and enables them to understand the key factors that influence accounting standards and practices in different countries, and how those factors impact the harmonization of standards worldwide.
The following Code and Course title changes have occurred:
College of Business, KIMEP, 2 Abai Avenue, Almaty, 050010