This unit is intended to introduce you to the overall purpose of accounting, applicable regulations, the accounting treatment and presentation of basic transactions and preparation and analysis of financial statements.
A trainee who takes this unit should be able to:
1. Prepare books of original entry and basic ledger accounts under double entry system.
2. Prepare basic financial statements of sole traders, partnerships, companies, manufacturing entities and not for profit organizations.
3. Comply with the regulatory framework in the accounting field.
4. Demonstrate basic understanding of public sector accounting framework.
5. Analyze financial statements by use of ratios and statement of cash flows.