Section outline

  • We are expected to finish this chapter in 04 meetings.
    Learning objectives of this chapter:

    (a) Fundamental concepts of accounting including, definition  of  Accounting;  Users  of  Accounting,  Brief history of accounting, Book Keeping and accounting, The Accounting  profession,  Ethics,  fundamental  business concepts.

    (b) Understanding and analysing the business transactions

    (c) Preparing financial statements (Income statement, Owner's equity statement and balance sheet

    Outcome of this chapter include the following:

    (1) Being able to distinguish between economic and non-economic activities of business organization

    (2) Understand and explain the effect of transactions on the accounting equation

    (3) Measuring performance of the business organization

    (4) Being able to identify any changes in the owner's capital invested in the business.

    Learning materials and methods are:

    (i) Live class

    (ii) Recorded video and audio

    (iii) PowerPoint

    (iv) Materials from text book.