Login Create Account

Back to Course Catalog

ACC812Management Sciences3 Unitsbeginner

Introduction To Accounting

This course introduces fundamental accounting concepts and principles. It covers key accounting concepts such as going concern, accruals, matching, and materiality. Students will learn about the accounting equation, its components, and basic documentation. The course also explores prime books, general ledgers, double-entry bookkeeping, and the preparation of financial statements for sole traders. Emphasis is placed on understanding depreciation, bad debts, and adjustments for accruals and prepayments.

Generate AI Study Notes

Transform this course into personalized study materials with AI

208h

Study Time

13

Weeks

16h

Per Week

basic

Math Level

Course Keywords

Accounting ConceptsFinancial StatementsDouble-Entry BookkeepingAccrualsDepreciation

Course Overview

Everything you need to know about this course

Course Difficulty

Beginner Level

Perfect for newcomers to the field

35%

beginner

➕

Math Level

Basic Math

🔬

Learning Type

Hands-on Practice

Course Topics

Key areas covered in this course

1

Accounting Concepts

2

Accounting Equation

3

Prime Books

4

General Ledger

5

Double-Entry Bookkeeping

6

Trial Balance

7

Cash Book

8

Petty Cash Book

9

Financial Statements

10

Depreciation

11

Bad Debts

12

Accruals and Prepayments

Total Topics12 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Account Clerk

Apply your skills in this growing field

Bookkeeper

Apply your skills in this growing field

Accounting Assistant

Apply your skills in this growing field

Junior Accountant

Apply your skills in this growing field

Audit Trainee

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

RetailManufacturingService SectorNon-Profit OrganizationsGovernment Agencies

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Introduction to Accounting Concepts

8h

Unit 1: Accounting Concepts

8 study hours

•Read the introduction and objectives of Unit 1.
•Study the definitions and explanations of key accounting concepts.
•Review the going concern and accruals concepts, and their implications for financial statements.
•Complete the self-assessment exercises to test your understanding.

Week

2

Module 2: The Accounting Equation

8h

Unit 2: The Accounting Equation and Its Components

8 study hours

•Review the accounting entity concept and its relevance.
•Study the accounting equation and its components (assets, liabilities, capital).
•Distinguish between revenue and capital expenditure.
•Work through the illustrations to understand the effects of transactions on the accounting equation.

Week

3

Module 3: Basic Documentation

8h

Unit 3: Basic Documentation and Prime Books

8 study hours

•Differentiate between cash and credit transactions.
•Explain trade and cash discounts.
•Identify and describe source documents (invoice, debit note, credit note, cheque, receipt).
•Explain the purpose of books of prime entry and list the main types.

Week

4

Module 4: Prime Books and Ledgers

8h

Unit 4: Prime Books, General Ledgers and the Journal

8 study hours

•Describe the transactions and documents recorded in prime books and the journal.
•Enter credit transactions in day books or the journal.
•Post transactions from day books and the journal to the relevant ledger accounts.
•Complete the self-assessment exercise.

Week

5

Module 5: Double Entry Bookkeeping

8h

Unit 5: Double Entry and the General Ledger

8 study hours

•Explain the principles of double-entry bookkeeping.
•Describe the format and contents of the general ledger and ledger accounts.
•Distinguish between asset and expense accounts, and between capital, liability, and income accounts.
•Enter cash and credit transactions in the ledger.

Week

6

Module 6: Trial Balance

8h

Unit 6: The Balancing of Accounts and the Trial Balance

8 study hours

•Balance and close ledger accounts (T accounts).
•Describe the nature and purposes of a trial balance.
•Prepare a trial balance from the ledger or a list of ledger account balances.
•Understand how to correct errors in a trial balance.

Week

7

Module 7: Cash Book

8h

Unit 7: The Cash Book

8 study hours

•Define cash book.
•Prepare a two-column and three-column cash book.
•Explain the term "suspense account".
•Differentiate between trade discount and cash discount.

Week

8

Module 8: Petty Cash Book

8h

Unit 8: The Petty Cash Book

8 study hours

•Explain the relationship between a petty cash book and the cash account in the general ledger.
•Describe the format of a columnar petty cash book.
•Explain the function of the analysis columns in a columnar petty cash book.
•Describe the petty cash imprest system and its advantages.

Week

9

Module 9: Financial Statements

8h

Unit 9: The Final Financial Statements of Sole Traders

8 study hours

•Explain the purpose and structure of statements of profit and loss.
•Explain the purpose and structure of statements of financial position.
•Describe the nature of administrative expenses, selling and distribution expenses, non-current assets, current assets, current liabilities, non-current liabilities and capital.
•Prepare a simple statement of profit and loss and statement of financial position from a trial balance.

Week

10

Module 10: Depreciation

8h

Unit 10: Depreciation and Non-Current Assets

8 study hours

•Describe the nature, recognition and valuation of non-current assets.
•Discuss the nature of depreciation.
•Describe the straight-line, reducing balance and sum of the years' digits methods of depreciating assets.
•Compute the amount of depreciation using the different methods.

Week

11

Module 11: Bad Debts

8h

Unit 11: Bad Debts and Provisions for Bad Debts

8 study hours

•Explain the nature of bad debts, provisions and provisions for doubtful debts.
•Distinguish between specific and general provisions for doubtful debts.
•Show the entries for bad debts and provisions for doubtful debts in the journal, general ledger, statement of profit and loss and statement of financial position.

Week

12

Module 12: Accruals and Prepayments

8h

Unit 12: Accruals and Prepayments

8 study hours

•Explain the conceptual foundation of accruals and prepayments.
•Describe the nature of accruals and prepayments and how the amounts can be ascertained in practice.
•Show the entries for accruals and prepayments in the journal, general ledger, statement of profit and loss and statement of financial position.
•Prepare simple final financial statements from a trial balance making the required adjustments for accruals and prepayments.

Week

13

Module 13: Final Revision

56h

Unit 13: The Financial Statement (With Adjustments)

8 study hours

•Review all units and key concepts from Modules 1-12.
•Work through additional practice problems and exercises.
•Focus on areas where you need further clarification.
•Prepare for the final examination.

Unit 14: Financial Ratios

8 study hours

•Review all units and key concepts from Modules 1-12.
•Work through additional practice problems and exercises.
•Focus on areas where you need further clarification.
•Prepare for the final examination.

Unit 15: Cash Flow Statement

8 study hours

•Review all units and key concepts from Modules 1-12.
•Work through additional practice problems and exercises.
•Focus on areas where you need further clarification.
•Prepare for the final examination.

Unit 16: Cost Accounting

8 study hours

•Review all units and key concepts from Modules 1-12.
•Work through additional practice problems and exercises.
•Focus on areas where you need further clarification.
•Prepare for the final examination.

Unit 17: The Framework of Cost Accounting

8 study hours

•Review all units and key concepts from Modules 1-12.
•Work through additional practice problems and exercises.
•Focus on areas where you need further clarification.
•Prepare for the final examination.

Unit 18: Elements of Auditing and Investigation

8 study hours

•Review all units and key concepts from Modules 1-12.
•Work through additional practice problems and exercises.
•Focus on areas where you need further clarification.
•Prepare for the final examination.

Unit 19: The Auditing Environment

8 study hours

•Review all units and key concepts from Modules 1-12.
•Work through additional practice problems and exercises.
•Focus on areas where you need further clarification.
•Prepare for the final examination.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

Access PDF Material

Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create a detailed study schedule allocating specific time slots for each unit.

2

Focus on understanding the fundamental accounting concepts and principles.

3

Practice applying the accounting equation to various business transactions.

4

Work through numerous examples of preparing financial statements.

5

Pay close attention to the treatment of depreciation, bad debts, accruals, and prepayments.

6

Review all tutor-marked assignments and identify areas where you need further clarification.

7

Create flashcards for key terms and definitions.

8

Practice solving problems under timed conditions to improve your speed and accuracy.

9

Review past examination papers to familiarize yourself with the format and types of questions.

10

Create concept maps linking related accounting concepts and principles.

Related Courses

Other courses in Management Sciences that complement your learning

Operations Of The Legislature

Management Of Public Service

Business Policy

View All Management Sciences Courses