EDO UNIVERSITY IYAMHO

Department of Accounting
ACC 111 Introduction to Accounting I
Instructor: Dr. Meshack Aggreh, email: aggreh.meshack@edouniversity.edu.ng
Lectures: Monday, 2pm – 4pm, & Tuesday, 10am – 11am. (LC1), phone: (+234) 8039627942
Office hours: Wednesday, 10.30am to 12.30 pm, Office: First Floor, 2 Rm by the right, Admin Block

Teaching Assistants: Nil

General overview of lecture: This foundation course in Accounting aims at exposing the
students to basic techniques of classifying and recording the different types of cost and
revenues associated with transactions and compiling simple financial reports.

Prerequisite: The students are expected to have a some level of knowledge in the
fundamentals mathematics, business, economics and related courses. Some knowledge of
computer basics will be an added advantage.

Learning outcomes:At the completion of this course, students are expected to:
i. Give an acceptable definition of Accounting
ii. Highlight the users of Accounting information
iii. State the Accounting process and the books or records involved in each stage.
iv. Understand the concept of double entry and the rules of posting
v. Prepare Various Books of Account and make relevant postings.

Assignments: We expect to have a number of homework assignments throughout the

course in addition to a Mid-Term Test and a Final Exam. Term papers may be given and
submission will be on the due date. Home works in the form of individual assignments, and
group assignments are organized and structured as preparation for the midterm and final
exam, and are meant to be a studying material for both test and exams.

Grading: We will assign 10% of this class grade to take-home assignments, 20% for the
mid-term test and 70% for the final exam. The Final exam is comprehensive.

Textbook: The recommended textbook for this class are as stated:

Title: Basic Business Accounting
Author: Dabor, E. L.
Publisher: DanDiamond; Most recent Edition
Year: 2007

Title: Financial Accounting Made Easy (Vol. 1)

Author(s): Igben, R. O.
Publisher: ROI, Most recent Edition
Year: XXXX

NOUN Pack

ICAN (ATS) PACK

Courseware: - ACC 111 – Introduction to Accounting I
The following documents outline the courseware for the course ACC 111- Introduction to
Accounting I. Much of this material is taken from recommended text books.
1. Nature and Scope of Accounting
a. Brief Historical Development of Accounting,
b. Purpose of Accounting,
c. Branches of Accounting,
d. The Functions of Accountants
e. Users, Uses and Qualities of Accounting Information;
2. Basic Accounting Concepts and Conventions,
a. Concepts
b. Conventions
c. Basis
3. Basic Terminologies
a. Assets
b. Liabilities
c. Equity
d. Income
e. Expenses
f. Purchases & Sales
g. Returns
h. Carriage
i. Discounts,
j. Reserves and Provisions,
k. Others
4. Book Keeping and Accounting Processes
a. Source Documents (Teller, Invoice, Receipts, Notes, Bills of exchange, etc)
b. Forms of Transactions
c. Accounting Equation
d. Books of prime entry
i. Purchases Journal
ii. Sales Journal
iii. Returns Journal
iv. Cash Book (Single, Double and 3-column)
v. Petty Cash Book
vi. General Journal
5. Double Entry Book-Keeping Systems
a. Principal books/ledgers and their Classifications
b. Posting via double entry
c. Balancing-off ledger accounts
6. The Trial Balance
7. Accruals, Prepayments and Adjustments
8. Bank reconciliation statements
9. Preparation of Simple Financial Statements for sole trader
10. Introduction to Accounting Standards IAS, IFRS