Introduction to financial reporting, the accounting cycle, and preparation of financial statements for external stakeholders.
About this course
This course introduces the foundational concepts of financial accounting and reporting. You will learn how to record business transactions, maintain the accounting cycle, and prepare financial statements for external stakeholders such as investors and creditors. The curriculum covers the preparation of adjusting entries, trial balances, and the three primary financial statements: the income statement, balance sheet, and statement of cash flows. You will also explore the ethical standards and regulatory frameworks that govern financial reporting practices.
Who takes this course
This course is a required component for the Bachelor of Applied Business — Accounting program.
Credits: 3 · Hours: 45
Prerequisites
None
Learning outcomes
- Explain the accounting cycle and the role of the general journal and ledger.
- Prepare adjusting entries and a trial balance for a business.
- Construct income statement, balance sheet, and statement of cash flows.
- Analyze financial statements to assess basic business performance.
- Apply ethical principles and regulatory standards in financial reporting.
Evaluation
| Component | Weight (%) |
| Midterm examination | 30 |
| Final examination | 40 |
| Assignments and quizzes | 30 |