This course is an introduction to accounting concepts and the operating characteristics of accounting systems. It focuses on the definition and concepts of accounting. The course teaches student the proper and correct way of journalizing and posting of transactions in the books of accounts, the preparation of financial statements, how to interpret these financial reports or statements.
After studying, the students should be able to:
- Know what a business is.
- Know the role of accounting in relation to a business.
- Distinguish the different types and forms of business organization.
- Know the characteristics of the different forms of business organization.
- Learn the nature, definition, and functions of accounting.