Introduction to Accounting (IA 102)

Course Objective​​

To develop basic knowledge and skills required to maintain financial records and technical ability in the use of double-entry accounting techniques including the preparation of basic financial statements that are not marred by sophisticated financial reporting standards.​

Learning Outcome​

After completion of the course students are expected to have the following competence:​

1. Explain generally accepted accounting principles and concepts​
2. Outline the principles and process of basic bookkeeping​
3. Prepare journals and ledger accounts ​
4. Record transactions and events​
5. Prepare a trial balance (including identifying and correcting errors)​
6. Reconcile the control accounts and cashbook ​
7. Extend the trial balance, process year-end adjustments and prepare final accounts​
8. Account for partnerships.​

Content

Section One​: Generally Accepted Accounting Principles and Concepts

Section Two​: Recording Transactions and Events

Section Three​: Reconciliations

Section Four​: Preparing Trial Balance and Errors

Section Five​: Financial statements and ethical principles

Section Six​: Public Sectors Organizations’ Perspective