Principles of Accounting
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This course introduces students to the fundamental concepts, principles, and procedures of accounting. It emphasizes understanding the accounting cycle, recording business transactions, bank reconciliations, cash book management, and preparation of basic financial statements for sole proprietorships. Students will develop practical skills in recording, processing, and presenting accounting information using spreadsheet software. Download Course Outline in PDF
Course Details
Instructor
Course Catagory
Duration
48 Hours
Type
Self Guided
Course Plan
Program Learning Outcomes (PLO)
The Accountancy Knowledge platform aims to provide a strong foundation in accounting and finance, equipping learners with essential knowledge and practical skills. Upon completing the courses offered by the website, learners will be able to:
PLO-1: Accounting and Finance Knowledge
Apply accounting and finance knowledge along with leveraging coding skills to develop data informed and ethical business decisions.
PLO-2: Problem Solving
Exhibit creative thinking to develop sustainable financial strategies that incorporate co-intelligence to solve real-world business challenges.
PLO-3: Communication
Analyze financial data to evaluate organizational performance, identify risks, recommend control strategies, and communicate findings to stakeholders for sustainable decision making.
PLO-4: Technology Usage
Leverage cloud-based platforms, AI-driven analytics and secure data handling practices for performing accounting and finance functions.
PLO-5: Collaborative Teamwork
Communicate, adapt, create, and work effectively in cross-functional teams to manage financial and accounting functions in dynamic environments.
Course Learning Outcomes (CLO)
After successfully completing this course, the students will be able to:
CLO #1 Explain fundamental accounting concepts, assumptions, and principles underlying financial transactions.
CLO #2 Record business transactions using the accounting equation and completion of the accounting cycle double-entry system.
CLO #3 Reconcile bank statements and manage various cash book formats to ensure accurate financial record-keeping.
CLO #4 Apply spreadsheet software to accurately process, analyze, and present accounting data.
CLO #5 Prepare basic financial statements for sole proprietorships.
Course Content
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Learning Resources
Recommended Books
Accounting Principles, A. Arora, Anthony, Horngren, Pearson, 2022
Introduction to Financial Accounting, Charles T. Horngren, Prentice Hall, 2021
Financial Accounting Manuals, ICAP / AICPA, Various, 2022
CIMA BA1 Fundamentals of Business Economics and Accounting, BPP Learning Media, Kaplan, 2022
CFA Level 1 Accounting and Financial Reporting Guide, CFA Institute, CFA Institute Publications, 2023
Pre-requisite
The Principles of Accounting course offered by Accountancy Knowledge is designed for individuals at the foundational level of accounting education. While the course does not require prior in-depth knowledge of accounting.
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Accounting principle