ABAARSO TECH UNIVERSITY

COURSE OUTLINE

Course Description
Course Title Principles of Accounting I
Credit hours 3 Page | 1
Semester 4th
Year 2018

Instructor Nur Yusuf Abdilahi

BBA, EMBA

Contacts
nurabdilahi@gmail.com
063 - 6627484

Course Overview
Accounting Principles I is the student's introduction to accounting concepts.
The class will cover accounting theory, principles and practice. Learn about
accrual accounting concepts, transaction analysis and the recording process.
The student will gain an in-depth understanding of the preparation and the
proper reporting of various accounts.

Objectives
By the end of this course, a student should be able to:

 Gain thorough understanding of the nature and purpose of financial

statements
 Acquire fundamental concepts and practices of accounting to analyze
accounting records and financial statements.
 Develop the ability to prepare various accounts and effectively
communicate information to a variety of audiences.

Text Book
Charles T. Horngren, Walter T. Harrison JR, M. Suzanne Oliver, (2012),
Accounting Ninth Edition, Pearson Prentice Hall, Upper Saddle, New Jersey.

Additional References
Jonathan E. Duchac, James M. Reeve, Knoxville Carl S. Warren, (2007)
Financial Accounting: An Integrated statements Approach 2nd Edition,
Thomson South-western; Thomson Corporation.

Access Online https://stiemahardhika.files.wordpress.com/2014/12/financial-

accounting-duchac-reeve-warren.pdf
James Don Edwards Roger H. Hermanson, Accounting Principles: A Business
Perspective, 1st Global Edition Text Volume I

Access Online https://www.saylor.org/site/wp-

content/uploads/2012/10/Accounting-Principles-Vol.-1.pdf
Page | 2
Course Contents
Chapter One: Accounting and The business Environment
 Accounting : The Language of Business
 Users of Financial Accounting Information
 Accounting Profession and Governing Organizations
 Types of Business Organizations
 Accounting Concepts and Principles
 The Accounting Equation
Chapter Two: Analyzing and Recording Business Transactions
 Accounts , the Journal and the Ledger
 Journalizing Transactions and Posting to the Ledger
 Trial Balance from T – accounts
Chapter Three: Adjusting Process
 Accounting Principles – Review
 Adjusting Entries
 Adjusted Trial Balance
 Financial Statements
Chapter Four: Completing the Accounting Cycle
 Closing Accounts
 Post Closing Trial Balance
Chapter Five: Accounting for Merchandizing Operations
 Inventory System - Perpetual Vs Periodic
 Purchase and Sale of Inventory
 Adjusting and Closing Accounts of Merchandizing enterprises
 Preparing Financial Statements
 Three Ratios for Decision Making
Chapter Six: Inventory
 Inventory Costing Methods
 Inventory Accounting in Perpetual System
  Inventory Accounting in Periodic System
Chapter Seven: Cash
 Internal Control of Cash
 Bank Reconciliation Statement
Page | 3

Delivery Methods
Lecture
Discussion
Class work

Course Assessment
Quiz 15%
Homework 10%
Attendance 5%
Mid Exam 30%
Final Exam 40%
Overall Marks 100%