Fundamentals of Accounting- I

This course is designed to provide introductory knowledge of accounting principles, concepts, and practices as per International Financial Reporting Standards. The course deals with the processes involved in financial statements preparation for service-giving businesses, merchandising businesses, and manufacturing businesses. Topics covered includes the features of accounting information, users of accounting information, nature of financial statements, the double entry system, financial statements preparation process including journals, ledgers, trial balance, adjustments, worksheets, accruals, adjusting and closing entries, and the accounting system. This course provides a foundation for more advanced work in the fields of Accounting and business. All topics are studied in accordance with the provisions of International Financial Reporting Standards (FIRS).