3, Kostaki Pantelidi str., 2057 Nicosia, P.O.Box 25331, 1308 Nicosia, Cyprus, Tel.: +357 22459090, Fax: +357 22664910, Email: info@ibscyprus.com.cy

General Accounting

Duration: 39 hours    Credits: 3


This course provides a complete foundation in basic accounting procedures in a practical, up-to-date, and easy-to- comprehend manner. The goal is to provide students with a strong basic knowledge of accounting terms, concepts, and procedures. Emphasis is placed on developing a firm foundation of fundamental procedures with appropriate repetition of content through the use of examples and colour-coded illustrations.

After successfully completing this course, you will be able to:

  • Understand the basic accounting cycle and define the basic elements used such as asset, liability, owner’s equity, revenue, and expense accounts
  • List the steps in the accounting cycle and prepare a post-closing trial balance and interim statements
  • Understand and perform functions relative to bank accounts and cash funds
  • Prepare a classified income statement and balance sheet, compute working capital and current ratio, and journalize closing entries for a business