INTRODUCTION TO ACCOUNTING

Description

This module will introduce students to the fundamentals of accounting. Topics covered include: Principles of Accounting, Double Entry book-keeping, Extraction of a Trial Balance, Calculation of depreciation, bad debts, bad debt provisions, accruals and prepayments, journal entries and bank reconciliations, Preparation of the Financial Statements for a sole trader . Learning Outcomes: On successful completion of the module, students should be able to: Record business transactions using the double entry system of bookkeeping. Construct, complete and balance where appropriate the accounting records of a business. Prepare a trial balance and initial set of financial statements. Identify and execute adjustments necessary to finalize financial statements. Prepare control reconciliations and use other checking procedures to ensure accuracy in completed financial statements. Teaching & Learning methods: 225 Assessment: 180 minutes