This course seeks to provide students with the capacity to indulge in professional accounting work. It is particularly important for students who intend to continue with further accounting studies.

The aim is to provide students with the requisite financial accounting skills necessary for progress in personal and private business. This course will form the bridge for studies in courses such as Cost Accounting, Management Accounting and Financial Management just to name a few.

At the end of the course, the students will be able to:

• Identify and describe the basic financial accounting principles, theories and procedures involved in various business situations including preparation of journals and financial statements.
• Prepare and explain the importance of Control Accounts (preparation of Purchases & Sales ledgers and identification of errors) and explain the principles involved in constructing financial statements from incomplete records.
• Outline the structure and requirements for manufacturing  & company set-up and registration (private/public limited) and prepare final accounts.
• Identify and outline the structure and requirements for business units classified as non-profit organizations and partnerships and prepare final accounts.
• Explain the use of financial ratios in financial analysis and conduct calculations to assess business performance (e.g. liquidity/profitability/efficiency/acid test/earnings ratios).
• Explain the importance of human resource management activities in employee payments.