Principles of Accounting

This course is designed for beginners who have no or little accounting and business knowledge.  The course consists of essential business and accounting knowledge that would be capable of starting a business as a sole-proprietor. The knowledge is various from dealing with a variety of transactions in accounting perspectives, preparing simple financial reports, to analyzing the report for self-improvement.   

Thus, the course learning outcomes are as follow:

  1. To differentiate the business types in accounting.
  2. To describe accounting principles and their impact on business.
  3. To explain the accounting equation and each component including asset, liability, equity, revenue, and expense.
  4. To explain the concept of the accounting cycle, accounting period, and the double-entry system.
  5. To define the business equity and asset acquisition.
  6. To prepare the balance sheet of a business.
  7. To differentiate inventory and supplies in both service and merchandising businesses.
  8. To differentiate cash and credit sale of a business.
  9. To identify the business expenditure and prepare the income statement.
  10. To explain the prepayment and unearned revenue
  11. To identify asset depreciation by different methods.
  12. To dispose of an asset from a business.
  13. To explain the purpose of accrued revenue and expense.
  14. To prepare the financial reports of a business.
  15. To analyze the financial reports of a business and interpret the result