This course introduces students to Generally Accepted Accounting Principles as well as the ethical considerations in recording financial information. The process of recording, summarizing and reporting financial information is covered in detail. As well, emphasis will be placed on interpreting and using financial information for decision making. This course is intended to help students to develop understanding of theoretical and practical techniques used in accounting which will enable them to develop skills to participate more effectively in future accounting courses and professional studies of accounting.
The aim of this course is to introduce students to QuickBooks software. The course entails opening a new set of books and recording both basic as well as complicated transactions that affects business daily. Preparing and producing basic financial reports such as balance sheets, income statements and trial balance. The course is designed to have students utilized a number of the accounting concepts and apply them using the accounting software. Concepts such as discounts, depreciation and return inwards of goods.
This course will consider each of the major types of assets as well as current liabilities and payroll accounting, with particular emphasis on the effect of their measurement on net income and their presentation in the financial statement. The course will also provide an overview of revenue and expense issues and accounting for natural resources and intangible assets. And finally, the course will present introductory accounting concepts related to partnerships.