Course Description
This course assumes no accounting background on the part of the student. The course covers the complete accounting cycle, from an understanding of the principles regarding transaction analysis and recording of journals to the preparation of basic financial statements used by a sole trader business. Students will also be introduced to the banking system and the preparation of bank reconciliations.
Students will spend the semester engaging in a mixture of teaching sessions, practice questions, and answers, individual assignments, and examinations to meet the learning outcomes of the course. Since this is a foundation course, all assessments will be individual, and no group assignments are required, however, students will be encouraged to work in groups for practice questions during the semester. The credits for the course will be mostly based on theoretical aspects of financial accounting since this is an introductory course where it is critical that the theoretical underlying aspects of financial accounting are learned.
Aims/Goals
The goal of the course is to give the student a basic understanding of the business environment and how business transactions are recorded and summarized into the financial statements for stakeholder use. Students should technical ability to apply double-entry accounting techniques to basic transactions including the preparation of basic financial statements for sole traders and limited liability companies.
Methods of delivery
Lecture notes
Microsoft Teams Meetings
Video Presentations
Assessments:
Home Assignment one (1) 20%
Midterm exam 30%
Home Assignment Two (2) 20%
Final Exam 30%
This course assumes no accounting background on the part of the student. The course covers the complete accounting cycle, from an understanding of the principles regarding transaction analysis and recording of journals to the preparation of basic financial statements used by a sole trader business. Students will also be introduced to the banking system and the preparation of bank reconciliations.
Students will spend the semester engaging in a mixture of teaching sessions, practice questions, and answers, individual assignments, and examinations to meet the learning outcomes of the course. Since this is a foundation course, all assessments will be individual, and no group assignments are required, however, students will be encouraged to work in groups for practice questions during the semester. The credits for the course will be mostly based on theoretical aspects of financial accounting since this is an introductory course where it is critical that the theoretical underlying aspects of financial accounting are learned.
Aims/Goals
The goal of the course is to give the student a basic understanding of the business environment and how business transactions are recorded and summarized into the financial statements for stakeholder use. Students should technical ability to apply double-entry accounting techniques to basic transactions including the preparation of basic financial statements for sole traders and limited liability companies.
Methods of delivery
Lecture notes
Microsoft Teams Meetings
Video Presentations
Assessments:
Home Assignment one (1) 20%
Midterm exam 30%
Home Assignment Two (2) 20%
Final Exam 30%
- Lecturer: Charmaine Mungaldeen