Course Details

In order to become effective in carrying out the accounting procedure, as well as in communicating the financial information of the business, there is a widely accepted set of rules, concepts, and principles that govern the application of the accounting procedures.You will learn and familiarise yourself with the accounting principles and Accounting concepts relevant in performing the accounting procedures. It is relevant to understand it because you need to abide by these concepts and principles every time you analyse record, summarize, report and interpret financial transactions of a business. Topics that will be covered in this course are:

1 Introduction to Accounting

2 The Five Major Types of Accounts

• Assets Definition and Examples
• Liabilities Definition and Examples
• Capital Definition and Examples
• Expenses Definition and Examples
• Revenue / Income Definition and Examples

B Two Main Categories of the Major Five types

• Explain the concept of T-accounts
• Rules of Debit and Credit

C Accounting Cycle

• General Journal Entries
• Journal Ledger Preparation
• Trial Balance Preparation
• Trading Account Preparation
• Profit and Loss Account Preparation
• Balance Sheet Preparation
• Assignments for Practical