- Explain the basic concepts of accounting.
- Comprehend the impact of business transactions on the accounting equation.
- Apply the double-entry principle to record business transactions.
- Prepare trial balance.
- Prepare a set of financial statements incorporating balance day adjustments.
- Prepare classified financial statements.
- Apply basic internal controls in managing cash.
- Account for inventories under the two inventory systems using different cost flow assumptions.
- Account for depreciation of non-current assets.
- Apply basic techniques in analyzing the business’ performance.
Modes of Assessment
- Class Participation
Upon successful completion of the modular unit, students will be awarded a Statement of Result which can count towards the attainment of the following: