FINACC1 

is an introductory course in financial accounting that will  develop students’

appreciation of accounting as

1.  a language of  business and

2.  to acquire an understanding of basic accounting concepts and principles to analyze

business transactions.

COURSE LEARNING OUTCOME

Knowledge:

1.Manifest understanding and appreciation of the nature and basic purpose of accounting
and how it is applied in business.

2.Identify and differentiate the different forms of business organizations and their activities.

3.Demonstrate knowledge of the concepts and principles of accounting through completing

the processes in the accounting cycle.

4.Demonstrate knowledge of the concepts and principles of accounting of current assets

such as cash, receivables and inventories.

5.Demonstrate knowledge of the concepts and principles of accounting of current liabilities

such as trade payables, provisions and contingencies, as well as accounting of shareholders’
equity accounts.

SKILL:
1.Demonstrate knowledge and skills in recording business transactions and in making
accounting calculations related to cash, receivables, inventory and trade payables.

2.Demonstrate knowledge and skills in recording business transactions and in making

accounting calculations related to corporations such as issuance of shares, distribution of
dividends to owners and recording of retained earnings.

3.Demonstrate knowledge and skills in recording business transactions and in making

accounting calculations related for current liabilities, non-current liabilities, and
shareholders’ equity through problem solving.