Aims & Objectives

To expand on the principles developed in the Introductory Accounting I. By preparing accounts for partnerships and companies.To prepare a trial balance (including identifying and correcting errors)  To prepare basic financial statements for incorporated and unincorporated entities. To develop an ability to assess the financial position of an organization from drawn final accounts.Upon completion of this course students will be able to:

1.     Understand the context and purpose of financial reporting with the use of regulatory framework.

2.     Identify the accounting fundamentals and its characteristics.

3.     Develop an ability to correctly use the double entry and accounting systems.

4.     Introduce the basic principles of recording transactions and events.

5.     Prepare accounts in clear metrological manner.

6.     Adopt and apply accounting principles.