Course Description

In this course following topics are covered: definition of accounting, types of accounting, basic concepts of accounting and basic financial accounting topics (such as accounting cycle, hierarchy of accounts), journal entries, posting, adjusting entries, trial balance, preparation of financial statements, closing and opening entries, accounting for current and non-current assets, current and non-current liabilities and owner’s equity.

Learning outcomes for this course

• Understanding of accounting cycle
• Analyzing, journalizing, and posting business transactions
• Accounting records for current assets
• Accounting for noncurrent assets
• Accounting for current liabilities
• Accounting for noncurrent liabilities
• Accounting for equities
• Analyzing existing account balances and trial balances
• Preparing an income statement and a balance sheet