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Principles of Accounting (1)

507101 - Principles of Accounting (1)
Faculty

Faculty of Business

Department

International Accounting and Finance

Credit Hours

3

Pre-requisite

-

Co-requisite

-

Distribution

3+0
This course enhances students' knowledge of basic theory and practice concepts of accounting for service and merchandising businesses. It introduces the concepts of accounting, accounting principles, assumptions, accounting equations, recording, posting, summarizing, and communicating the financial information related to business transactions based on a double entry system. The course develops students' interpersonal skills in the measurement of business income (revenue and expenses) and financial position (assets, liabilities, equities), and prepares the students to apply quantitative and qualitative concepts in the accounting cycle for service and merchandising businesses. Students' creative and critical skills will be exposed to the International Financial Reporting Standards (IFRS).