FINANCIAL ACCOUNTING 1
INTRODUCTION
1
,OBJECTIVES
• Upon completion of this subject, students should be able to:
• Analyse the source documents and record the transactions in the
journals and ledgers using the double entry principles;
• Apply the accounting standards in the preparations of these
accounting records;
• Prepare a full set of accounts for businesses in the service
industry and trading industry;
• Prepare, analyse and interpret financial accounting reports:
Income Statement, Balance Sheet and Cash Flow Statement. and
compare the performance of the business in two or more years.
2
, TEXTBOOKS
• PRESCRIBED TEXTS
➢Hoggett, J., Edwards, L., Medlin, J., and Tilling, M., (2009)
Financial Accounting, 7th edn, John Wiley & Sons.
• RECOMMENDED REFERENCES
➢Harrison, Horgren and Oliver (2009) 8th edn; Financial
Accounting. Pearson Education International
➢Benedict & Elliot, (2008) 1st edn. Financial Accounting; An
Introduction. FT Prentice Hall
➢Peirson and Ramsay, (2006) Financial Accounting: An
Introduction. Pearson Education Australia.
3
, ASSESSMENT DETAILS
In class assessments 40%
1) Mid-Semester Examination 20%
2) Class test, individual/ group
assignments 10%
3) Attendant 10%
Final Examination 60%
Total 100%
4
INTRODUCTION
1
,OBJECTIVES
• Upon completion of this subject, students should be able to:
• Analyse the source documents and record the transactions in the
journals and ledgers using the double entry principles;
• Apply the accounting standards in the preparations of these
accounting records;
• Prepare a full set of accounts for businesses in the service
industry and trading industry;
• Prepare, analyse and interpret financial accounting reports:
Income Statement, Balance Sheet and Cash Flow Statement. and
compare the performance of the business in two or more years.
2
, TEXTBOOKS
• PRESCRIBED TEXTS
➢Hoggett, J., Edwards, L., Medlin, J., and Tilling, M., (2009)
Financial Accounting, 7th edn, John Wiley & Sons.
• RECOMMENDED REFERENCES
➢Harrison, Horgren and Oliver (2009) 8th edn; Financial
Accounting. Pearson Education International
➢Benedict & Elliot, (2008) 1st edn. Financial Accounting; An
Introduction. FT Prentice Hall
➢Peirson and Ramsay, (2006) Financial Accounting: An
Introduction. Pearson Education Australia.
3
, ASSESSMENT DETAILS
In class assessments 40%
1) Mid-Semester Examination 20%
2) Class test, individual/ group
assignments 10%
3) Attendant 10%
Final Examination 60%
Total 100%
4
