Authorised by Academic Registrar, April 1996
Objectives This subject introduces students to the fundamentals and basic principles of accounting. Students will acquire a practical knowledge of the accounting processes comprising of transaction recording through journals to ledger accounts and preparation of financial statements for sole proprietors, partnerships and companies. The concepts of working capital, valuation methods and ratio analysis are explored and students will also gain a basic familiarity with a computerised accounting package that will be developed further in later subjects.
Synopsis This subject concentrates on the accounting process required to prepare financial reports and looks at the elements of these reports in detail such as assets, liabilities, equity, revenue and expenses. Students will learn to classify economic transactions into appropriate accounts and calculate ratios for analysis.
Assessment Assignments: 30% + Examination: 70%