Financial Accounting - Assignment

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Financial Accounting - Assignment

This unit covers the following topics: 1. Review of accounting principles and the accounting equation 2. Recording business transactions using the double entry system 3. Adjusting entries 4. Closing entries 5. Preparation of financial statements 6. Accounting for inventory 7. Internal control & cash 8. Property, plant & equipment 9. Intangibles 10. Accounting for partnerships 11. Receivables – accounting for bills receivable & bad debts 12. Liabilities – warranties & contingent liabilities

LEARNING OUTCOMES:

At the completion of this unit students will be able to:

LO1 Interpret and explain accounting concepts and principles

LO2 Discuss the importance of accounting standards

LO3   Identify, evaluate and design solutions to ethical issues in accounting

LO4 Record financial accounting transactions using the accrual method of accounting

LO5 Prepare general purpose financial statements