Aim
To develop knowledge and understanding of the underlying principles and
concepts relating to financial accounting and technical proficiency in the use of
double-entry accounting techniques including the preparation of basic financial
statements.
Main capabilities
On successful completion of this paper, you should be able to:
A Explain the context and purpose of financial reporting
B Define the qualitative characteristics of financial information
C Demonstrate the use of double entry and accounting systems
D Record transactions and events
E Prepare a trial balance (including identifying and correcting errors)
F Prepare basic financial statements for incorporated and unincorporated
entities.
G Prepare simple consolidated financial statements
H Interpret financial statements
1 | Global Online Class Lecture on Accounting for Extraordinary Loss and Bad Debt Provision |
2 | Lecture on Ethical Considerations and IFRS Standards in Accounting |
3 | The scope and purpose of, financial statements for external reporting |
4 | Users’ and stakeholders’ needs |
5 | The main elements of financial reports |
6 | The regulatory framework |
7 | Duties and responsibilities of those charged with governance |
8 | The qualitative characteristics of financial reporting |
9 | Double-entry book-keeping principles including the maintenance of accounting records |
10 | Ledger accounts, books of prime entry and journals |
11 | Sales and purchases |
12 | Cash |
13 | Inventory |
14 | Tangible non-current assets |
15 | Depreciation |
16 | Intangible non-current assets and amortisation |
17 | Accruals and prepayments |
18 | Receivables and payables |
19 | Provisions and contingencies |
20 | Capital structure and finance costs |
21 | Trial balance |
22 | Correction of errors |
23 | Control accounts and reconciliations |
24 | Bank reconciliations |
25 | Suspense accounts |
26 | Statements of financial position |
27 | Income statements and statements of comprehensive income |
28 | Disclosure notes |
29 | Events after the reporting period |
30 | Statements of cash flows (excluding partnerships) |
31 | Incomplete records |
32 | Subsidiaries |
33 | Associates |
34 | Importance and purpose of analysis of financial statements |
35 | Ratios |
36 | Analysis of financial statements |
Starts On