This course provides an introduction to the objectives, principles, assumptions and concepts of accounting. It focuses on procedures and practices from the accounting cycle through financial statement presentation with an emphasis on organizing, analyzing recognizing, valuing, reporting, and disclosing effects of business transactions throughout the accounting process on assets, liabilities, and owner's equity. It course presumes no previous accounting knowledge. Primary areas of the course includes: understanding accounting and the business environment; the task of recording transactions, processing the recorded data and the preparation of financial reports for use by managers, owners, creditors and government agencies(Accounting Cycle); other areas to be covered are, accounting for trading/merchandising businesses; Inventory/stock; and Internal control & cash. The Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS/IAS) are incorporated for a contemporary study approach.
- Teacher: Daniel K. Mulindwa