Introduction to Course:
Accounting is the language of business. It is the system of recording, summarizing, and analyzing an economic entity's financial transactions. Effectively communicating this information is key to the success of every business. Those who rely on financial information include internal users, such as a company's managers and employees, and external users, such as banks, investors, governmental agencies, financial analysts, and labor unions.Every business organization that has economic resources, such as money, machinery, and buildings, uses accounting information. For this reason, accounting is called the language of business. Accounting also serves as the language providing financial information about not-for-profit organizations such as governments, churches, charities, fraternities, and hospitals. However, these entities are not businesses because they do not operate in a for-profit manner. In this course we will focus on accounting for business firms.The accounting process provides financial data for a broad range of individuals whose objectives in studying the data vary widely. Bank officials, for example, may study a company’s financial statements to evaluate the company’s ability to repay a loan. Prospective investors may compare accounting data from several companies to decide which company represents the best investment. Accounting also supplies management with significant financial data useful for decision making.
Course Pre-Requisites (If any)
By fulfilling all of the course requirements, students will have demonstrated they can:
- Describe, explain, and integrate fundamental concepts underlying accounting, finance, management, marketing, and economics
- Use information to support business processes and practices, such as problem analysis and decision making
- Apply quantitative skills to help analyze and solve business problems and to take advantage of business opportunities
- Apply oral and written communication skills
- Describe and explain the ethical and social responsibilities of accountants in ensuring the integrity of financial information
- Develop an understanding of internal control issues and the effects of the regulatory environment on financial reporting.
Vinayaham, M. and K. L. Magrafan 1992. Principal of Accounting
Meigs and Meigs 1986. Financial Accounting.
Description of system of Evaluation (Exam, assignments etc.):
Mid Term: 30 marks
Sessional: 20 marks
- Project: 40%
- Presentation: 30%
- Participation: 30%
Final Exam: 50 marks
Monday : 10 am to 11am ( Regular) 3 pm to 4 pm ( self support)
Tuesday: 10 am to 11am ( Regular) 3 pm to 4 pm ( self support)
Wednesday: 10 am to 11am ( Regular) 3 pm to 4 pm ( self support)