Basics of Financial Accounting (2cr)

Objectives

The course introduces the basics of financial accounting. Students will learn bookkeeping in virtual companies.

After completing the course, the students will be able to:
• Describe the basic concepts and principles of accounting
• Record basic business transactions in accounting

Content

• What are the purposes of accounting and who are the users of accounting information?
• What is the conceptual framework in accounting?
• What are the phases of an accounting period?
• What does double-entry accounting mean?
• What is accounting equation?
• How are business transactions recorded in accounting?