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FINANCIAL ACCOUNTING I

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Learning Outcomes

  • Define and evaluate the accounting concept and importance of accounting information for business.
  • Explain and distinguish finacial transactions.
  • Explain the accounting cycle.
  • Explain the balance sheet.
  • Explain the accounting functions.
  • Relates accounting to other business functions.
  • Will be able to explain the structure and operation of the accounting information system.
  • define assets, debts and equities in business.
  • evaluate the changings in assets, debts and equities on balance sheet equation.
  • Explain the elements of the accounting information system.
  • Explains the accounting period and operation of the accounting process.
  • Will be able to explain the accounting recording and needed documents and software for recording.
  • Explains the documents, journal and ledger in laws.
  • Explains the accounting recording technique.
  • Classifies the software used in accounting.
  • Will be able to explain the concept of account and the use of accounts.
  • Defines the concept of account.
  • Categorizes accounts.
  • It uses accounts in records.
  • Will be able to record transactions related to assets.
  • Accounts for cash and similar asset transactions.
  • Accounts for transactions related to receivables.
  • Inventories accounts for movement of goods.
  • Accounts for transactions related to fixed assets.
  • Will be able to accounts record transactions related to debts and equity.
  • Accounting for bank loans.
  • Accounting for trade payables.
  • Records other debt transactions.
  • Will be able to account for income and expense transactions.
  • Classifies and accounts income transactions.
  • Classifies and accounts expense transactions.
  • Relates cost and expense accounts.
  • Reports income and expenses.
  • Transfers the period profit-loss to the balance sheet.
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