Accounting

NATIONAL UNIVERSITY OF SCIENCE AND TECHNOLOGY

B.COM ( BANKING, FINANCE, MANAGEMENT, INSURANCE, MARKETING & ACTURIAL SCIENCE) HONOURS

COURSE ACCOUNTING IA
CODE CAC 1107

AIM

The purpose of the course is to provide an understanding of the basic concepts and techniques of accounting and their application to business management. The course covers the accounting cycle and assumes no prior knowledge of accounting. The course is intended for those who will use accounting information as managers rather than those who will prepare it as accountants. In appreciation of the question of the semantic value of accounting information undergirds the course.

COURSE OBJECTIVES
After completing the course students should be able to:

a) Understand the systems and processes used in the recording, processing and preparation of accounting statements. b) Distinguish between the use and variety of techniques c) Read and interpret financial accounting statements

COURSE OUTLINE

1. Introduction to Accounting a) Accounting as information system - Branches of Accounting - Users of Accounting Statements b) Evaluation of accounting thought and practice c) Types of business organizations

2. The Double Entry System of Bookkeeping a) The Accounting Equation b) The Accounting Cycle

3. The Trial Balance - as a management tool - Its limitations - Control accounts

4. Preparation of Financial Statements - Extended Trial Balance and end of year adjustments - Accounting concepts and their limitations - Incomplete Records

5. Accounting for Non-Profit Making Organisations

6. Company Financial Statements

- Internal Statements

- Introduction to published company accounts

7. Introduction to accounting Ratios

READING

ESSENTIAL

1. Accounting for Non-Accountants – Denyer.