Description

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