Introduction To Accounting
Definition: Reporting of the monetary position and efficiency of a agency by means of financial statements issued to external customers on a periodic foundation. Objective: To equip college students with the required competencies for the preparation and presentation of monetary statements based on the requirements of Worldwide Monetary Reporting Requirements and to realize information and understanding of the theories relevant in this accounting subject, in addition to the ability to apply this knowledge to the next subject material: the conceptual framework; accounting gadgets which affect the statement of profit or loss and other comprehensive earnings and the statement of economic place; the accounting therapy and disclosure of earnings taxes, including deferred tax; revenue; modifications in accounting insurance policies; estimates and errors; occasions after the reporting interval; provisions, contingent liabilities and contingent belongings; honest worth measurements; including the tax implications of the preceding topics.
These programs embody introductory and superior matters comparable to recording transactions; the accounting cycle; financial statement preparation; accounting for money, receivables, stock, and fixed property; accounting for long-time period liabilities; stockholders’ fairness; capital stock transactions; retained earnings; dividends; and investments.
Purpose: To equip college students with the fundamental ideas, requirements and rules of financial accounting; to provide …