NATIONAL OPEN UNIVERSITY OF NIGERIA
FACULTY OF MANAGEMENT SCIENCES
ACC101 BOOK-KEEPING
Course Guide
Course Developer/Writer: Dr Urhoghide R.O. / Anthony I. Ehiagwina
Department of Financial Studies
National Open University of Nigeria
Course Editor: Dr Egbunike Amaehi Patrick CNA
Department of Accountancy
Nnamdi Azikiwe University, Awka
Head of Department: Dr (Mrs) Ofe Inua
Department of Financial Studies
National Open University of Nigeria
Programme Coordinator: Anthony I. Ehiagwina
Department of Financial Studies
National Open University of Nigeria
1
,CONTENTS
Introduction
Course Aim
Course Objectives
Study Units
Assignments
Tutor Marked Assignment
Final Examination and Grading
Summary
2
,INTRODUCTION
You are holding in your hand the course guide for ACC101 (Book Keeping I). The purpose of the
course guide is to relate to you the basic structure of the course material you are expected to study
as a student undertaking a basic course in Accounting in National Open University of Nigeria.
Like the name ‘course guide’ implies, it is to guide you on what to expect from the course
material at the end of studying the course material.
COURSE CONTENT
The course content consists basically of the treatment of transactions according to the Generally
Acceptable Accounting Principles (GAAP). Specifically, the course material is focused on book-
keeping as a foundational aspect of accounting. The concept of bookkeeping starts from source
documents to the trial balance, which is to check the arithmetical accuracy of the ledger account.
Bank reconciliation statement was also discussed.
COURSE AIM
The aim of the course is to bring to your cognizance the practical recording of financial
transactions as it applies to the business world.
COURSE OBJECTIVES
At the end of studying this course, among other objectives, you should be able to:
1. Identify the basic parts of bookkeeping;
2. Describe the key rules and guidelines required in a medical office that encourage
bookkeeping;
3. Mention and describe accounting concepts and conventions;
4. Discuss the importance and necessity for uniformity in accounting practices;
5. Explain the relevance of the accounting entity concept;
6. Describe the accounting equation;
7. Explain the nature of assets, liabilities and capital;
8. Explain the relevance of accounting period concept in financial accounting;
9. Distinguish between revenue expenditure and capital expenditure; and
10. Make entries into the prime books of entry.
COURSE MATERIAL
The course material package is composed of:
The Course Guide
The study units
3
,Self-Assessment Exercises
Tutor-Marked Assignment
References/Further Reading
THE STUDY UNITS
The study units are as listed below:
Module 1: Concepts and Principles of Accounting
Unit 1: The Concept of Bookkeeping
Unit 2: Principles of Accounting Concepts and Conventions
Unit 3: The Accounting Equation and its Components
Module 2: Documentation
Unit 1: Basic Documents
Unit 2: Books of Prime Entry
Unit 3: The Cash Book
Unit 4: The Petty Cash Book
Module 3: Entries and Balancing of Accounts
Unit 1: Double Entry System of Accounting
Unit 2: The Balancing of Accounts and the trial Balance
Unit 3: Bank Reconciliation Statements
ASSIGNMENTS
Each unit of the course has self-assessment exercises. You will be expected to attempt them as
this will enable you understand the content of the unit.
TUTOR-MARKED ASSIGNMENT
The Tutor Marked Assignments (TMAs) at the end of each unit are designed to test your
understanding and application of the concepts learned. Besides, you would be assessed
electronically, as a continuous assessment during the period of studying the course. This would
make up 30 percent of the total score for the course. The other 70% would be determined by
examination of the course at the end of the course.
SUMMARY
It is very important that you commit adequate effort to the study of the course material for
maximum benefit. Good luck.
4
, ACC101 BOOK-KEEPING I
Main Content
Course Developer/Writer: Dr Urhoghide R.O. / Anthony I. Ehiagwina
Department of Financial Studies
National Open University of Nigeria
Course Editor: Dr Egbunike Amaehi Patrick CNA
Department of Accountancy
Nnamdi Azikiwe University, Awka
Head of Department: Dr (Mrs) Ofe Inua
Department of Financial Studies
National Open University of Nigeria
Programme Coordinator: Anthony I. Ehiagwina
Department of Financial Studies
National Open University of Nigeria
5
, TABLE OF CONTENTS
Module 1: Concepts and Principles of Accounting
Unit 1: The Concept of Bookkeeping
Unit 2: Principles of Accounting Concepts and Conventions
Unit 3: The Accounting Equation and its Components
Module 2: Documentation
Unit 1: Basic Documents
Unit 2: Books of Prime Entry
Unit 3: The Cash Book
Unit 4: The Petty Cash Book
Module 3: Entries and Balancing of Accounts
Unit 1: Double Entry System of Accounting
Unit 2: The Balancing of Accounts and the trial Balance
Unit 3: Bank Reconciliation Statements
6
FACULTY OF MANAGEMENT SCIENCES
ACC101 BOOK-KEEPING
Course Guide
Course Developer/Writer: Dr Urhoghide R.O. / Anthony I. Ehiagwina
Department of Financial Studies
National Open University of Nigeria
Course Editor: Dr Egbunike Amaehi Patrick CNA
Department of Accountancy
Nnamdi Azikiwe University, Awka
Head of Department: Dr (Mrs) Ofe Inua
Department of Financial Studies
National Open University of Nigeria
Programme Coordinator: Anthony I. Ehiagwina
Department of Financial Studies
National Open University of Nigeria
1
,CONTENTS
Introduction
Course Aim
Course Objectives
Study Units
Assignments
Tutor Marked Assignment
Final Examination and Grading
Summary
2
,INTRODUCTION
You are holding in your hand the course guide for ACC101 (Book Keeping I). The purpose of the
course guide is to relate to you the basic structure of the course material you are expected to study
as a student undertaking a basic course in Accounting in National Open University of Nigeria.
Like the name ‘course guide’ implies, it is to guide you on what to expect from the course
material at the end of studying the course material.
COURSE CONTENT
The course content consists basically of the treatment of transactions according to the Generally
Acceptable Accounting Principles (GAAP). Specifically, the course material is focused on book-
keeping as a foundational aspect of accounting. The concept of bookkeeping starts from source
documents to the trial balance, which is to check the arithmetical accuracy of the ledger account.
Bank reconciliation statement was also discussed.
COURSE AIM
The aim of the course is to bring to your cognizance the practical recording of financial
transactions as it applies to the business world.
COURSE OBJECTIVES
At the end of studying this course, among other objectives, you should be able to:
1. Identify the basic parts of bookkeeping;
2. Describe the key rules and guidelines required in a medical office that encourage
bookkeeping;
3. Mention and describe accounting concepts and conventions;
4. Discuss the importance and necessity for uniformity in accounting practices;
5. Explain the relevance of the accounting entity concept;
6. Describe the accounting equation;
7. Explain the nature of assets, liabilities and capital;
8. Explain the relevance of accounting period concept in financial accounting;
9. Distinguish between revenue expenditure and capital expenditure; and
10. Make entries into the prime books of entry.
COURSE MATERIAL
The course material package is composed of:
The Course Guide
The study units
3
,Self-Assessment Exercises
Tutor-Marked Assignment
References/Further Reading
THE STUDY UNITS
The study units are as listed below:
Module 1: Concepts and Principles of Accounting
Unit 1: The Concept of Bookkeeping
Unit 2: Principles of Accounting Concepts and Conventions
Unit 3: The Accounting Equation and its Components
Module 2: Documentation
Unit 1: Basic Documents
Unit 2: Books of Prime Entry
Unit 3: The Cash Book
Unit 4: The Petty Cash Book
Module 3: Entries and Balancing of Accounts
Unit 1: Double Entry System of Accounting
Unit 2: The Balancing of Accounts and the trial Balance
Unit 3: Bank Reconciliation Statements
ASSIGNMENTS
Each unit of the course has self-assessment exercises. You will be expected to attempt them as
this will enable you understand the content of the unit.
TUTOR-MARKED ASSIGNMENT
The Tutor Marked Assignments (TMAs) at the end of each unit are designed to test your
understanding and application of the concepts learned. Besides, you would be assessed
electronically, as a continuous assessment during the period of studying the course. This would
make up 30 percent of the total score for the course. The other 70% would be determined by
examination of the course at the end of the course.
SUMMARY
It is very important that you commit adequate effort to the study of the course material for
maximum benefit. Good luck.
4
, ACC101 BOOK-KEEPING I
Main Content
Course Developer/Writer: Dr Urhoghide R.O. / Anthony I. Ehiagwina
Department of Financial Studies
National Open University of Nigeria
Course Editor: Dr Egbunike Amaehi Patrick CNA
Department of Accountancy
Nnamdi Azikiwe University, Awka
Head of Department: Dr (Mrs) Ofe Inua
Department of Financial Studies
National Open University of Nigeria
Programme Coordinator: Anthony I. Ehiagwina
Department of Financial Studies
National Open University of Nigeria
5
, TABLE OF CONTENTS
Module 1: Concepts and Principles of Accounting
Unit 1: The Concept of Bookkeeping
Unit 2: Principles of Accounting Concepts and Conventions
Unit 3: The Accounting Equation and its Components
Module 2: Documentation
Unit 1: Basic Documents
Unit 2: Books of Prime Entry
Unit 3: The Cash Book
Unit 4: The Petty Cash Book
Module 3: Entries and Balancing of Accounts
Unit 1: Double Entry System of Accounting
Unit 2: The Balancing of Accounts and the trial Balance
Unit 3: Bank Reconciliation Statements
6
