This introductory course presents fundamental concepts, principles and techniques of financial accounting, including the double entry system. It deals with the study of accounting cycle for service and merchandise companies. Special focus given to analyzing transactions, summarizing them using the general ledger and reporting the results through the preparation of financial statements mainly used by internal and external decision makers. The last part covers the basics of inventory valuation, cost of sales, accounting treatment for tangible & intangible assets and the preparation of adjustment entries.
- Teacher: Dr. Rwida Matar