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  ACCOUNTING AND CONTROL   Course outline 1 INTRODUCTION TO ACCOUNTING ü Meaning of the term accounting ü Role of accounting in an organization ü Accounting principles, assumptions and concepts  Users of accounting information ü Relevance of accounting to human resource management functions 2 RECORDING FINANCIAL TRANSACTIONS ü Financial transactions ü Role of accounting equation ü Double entry system ü Preparation of journals ü Preparation and balancing of ledger accounts 3 COMPLETING THE ACCOUNTING CYCLE ü Preparation of a trial balance ü Purpose of a trial balance ü Year-end adjustments ü Determination of accruals, provisions and prepayments ü Treatment of accruals, provisions and prepayments     4 FINANCIAL STATEMENTS ü Preparation of trading, profit and loss accounts ü Preparation of a balance sheet ü Importance of trading profit and loss accounts and the balance sheets 5 CASHBOOKS ü The rol...

  FUNDAMENTALS OF ACCOUNTING   What is accounting? Accounting may be defined as the process of identifying, measuring, recording and communicating financial information in order to permit users to make informed decisions or judgment by the users of the financial information. Accounting maybe referred by some authors as Book-keeping, which is the analysis, identification, measuring, classifying and recording of financial transactions in the books of accounts. Accounting maybe viewed as the language used in business and forms a common media through which users of accounting information can effectively communicate business matters and understand each other equally in a business. Accounting facilitates communication of the business records, transactions and summarizes results of business operations; forming the information of economic value to a business which forms the basis for judgment by the users.   THE ACCOUNTING PROCESS Since accounting is a process, it ...