Master the language of business with ACC301, a comprehensive course designed to provide students with a solid foundation in financial accounting principles and practices. From recording transactions to preparing financial statements, this course covers essential topics in financial accounting, empowering students to analyze financial information, make informed decisions, and communicate effectively with stakeholders.
 
Course Highlights:
Introduction to Financial Accounting: Understand the role and importance of financial accounting in business, including its purpose, objectives, and regulatory framework.
Accounting Concepts and Principles: Learn about fundamental accounting concepts and principles such as accrual accounting, matching principle, revenue recognition, and the going concern assumption, and understand how they guide the preparation of financial statements.
Recording Transactions: Gain insights into the process of recording business transactions using double-entry accounting, including journal entries, ledger accounts, and the trial balance.
Adjusting Entries and Accruals: Understand the importance of adjusting entries in accrual accounting, including adjusting for prepaid expenses, accrued revenues, accrued expenses, and depreciation.
Financial Statement Preparation: Learn how to prepare key financial statements such as the income statement, balance sheet, statement of cash flows, and statement of changes in equity, and understand how these statements are used to assess a company's financial performance and position.
Analysis of Financial Statements: Explore techniques for analyzing financial statements, including ratio analysis, trend analysis, and common-size analysis, and understand how to interpret financial ratios to evaluate liquidity, solvency, profitability, and efficiency.
Internal Controls and Fraud Prevention: Gain proficiency in internal control principles and techniques for fraud prevention and detection, including segregation of duties, authorization controls, and internal audit procedures.
Revenue and Expense Recognition: Understand the principles of revenue recognition and expense recognition, including criteria for recognizing revenue and matching expenses to revenue, and learn how to apply these principles in practice.
Financial Statement Analysis: Explore advanced topics in financial statement analysis, including earnings quality assessment, cash flow analysis, and financial forecasting techniques.
Ethical and Professional Standards: Discuss ethical issues and professional standards in financial accounting, including integrity, objectivity, confidentiality, and compliance with accounting standards and regulations.
 
Who Should Enroll:
ACC301 is ideal for students pursuing degrees in accounting, finance, business administration, or related fields, as well as professionals seeking to enhance their knowledge and skills in financial accounting. This course is suitable for beginners with no prior background in accounting as well as those with some accounting experience looking to deepen their understanding of financial accounting concepts and principles.