Business Accounting

This subject provides an understanding of basic accounting concepts and processes and their applications in businesses. It includes the double-entry system of bookkeeping, preparation of financial statements, accounting for assets such as cash and inventories and the importance of controls over these assets, as well as analysis of financial statements using ratios.
 

Objectives:

• Record business transactions using double-entry system.
• Prepare and interpret basic financial statements.
• Account and control business’ assets specifically cash and inventories.

What You'll Learn:

• Explain the basic concepts of accounting.
• Comprehend the impact of business transactions on the accounting equation.
• Apply the double-entry principle to record business transactions.
• Prepare trial balance.
• Prepare a set of financial statements incorporating balance day adjustments.
• Prepare classified financial statements.
• Apply basic internal controls in managing cash.
• Account for inventories under the two inventory systems using different cost flow assumptions.
• Account for depreciation of non-current assets.
• Apply basic techniques in analyzing the business’ performance.