Introduction
To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.
Objectives
Main Capabilities:
On successful completion of this exam, candidates should be able to:
- Explain the context and purpose of financial reporting
- Define the qualitative characteristics of financial information
- Demonstrate the use of double-entry and accounting systems
- Record transactions and events
- Prepare a trial balance (including identifying and correcting errors)
- Prepare basic financial statements for incorporated and unincorporated entities.
- Prepare simple consolidated financial statements
- Interpretation of financial statements
Brief Contents
- The context and purpose of financial reporting
- The qualitative characteristics of financial information
- The use of double-entry and accounting systems
- Recording transactions and events
- Preparing a trial balance
- Preparing basic financial statements
- Preparing simple consolidated financial
statements - Interpretation of financial statements