Basic financial accounting

Course description

This course introduces to the students the key introductory bookkeeping principles needed for business. It provides a good grounding in double- entry bookkeeping and production of basic financial statements, thereby laying a firm foundation for a students who wants to grasp the accounting knowledge to run their business.

Course objectives

The students will be able;

1. To acquire knowledge, skills and competences needed to maintain basic bookkeeping records for an organization.
2. To grasp the fundamental principles of double entry associated with knowledge of typical Book keeping Practices.
3. To understand fundamental Book keeping skills necessary for the preparation of books of accounts

 Learning outcomes

Upon successful completion of this course, the students will be able;

1. To identify all relevant source documents for record keeping purposes.
2. To prepare documents for customers or clients to include orders, invoices, credit notes, receipts and payments.
3. To prepare books of accounts in accordance with standard of accounting principles.