Welcome

The CSEC Principles of Accounts Syllabus (CXC 10/G/SYLL 06) is designed to provide an introduction to the principles and techniques that accountants employ in measuring, processing, evaluating and communicating information about the financial performance and position of a business.

COURSE OVERVIEW

This course is designed to teach you the “language of business” to create a better understand of the terms and concepts used in business decisions. The course Introduction to Accounting prepares entrepreneurs to manage the financial aspects of their businesses. In order for any entrepreneurship business to be successful there should be proper financial recording and management of the business finances. During this course you will be exposed to financial terms and concepts to proper financial control of your business. The Introduction to Business Accounting course will provide future entrepreneurs with basic skills and knowledge required to establish and maintain business accounts, read and interprets financial reports and returns. You will explore the process and procedures of business accounting and its role in establishing and managing a successful business venture. You will also analyse and interpret final accounts of different forms of business.

Course Goals

Upon completion of the Introduction to Business Accounting you should be able to:
1. Define accounting and accounting terms
2. Appreciate the differences between bookkeeping and accounting
3. State and illustrate the accounting cycle
4. Describe the different types of accounts
5. Examine the concepts and best practices of business accounting
6. Record and interpret entries in the books of original entry
7. Transfer information from the books of original entry to the ledgers
8. Generate trial balance from the balances in the ledgers
9. Analyse financial reports and returns
10. Calculate equity rations
11. Explain cash flow
12. Prepare bank reconciliation statements
13. Calculate payroll documents
14. Prepare cash flow, financial statements, income statements and balance sheets
15. Prepare final accounts for other forms of businesses
16. State the basic accounting equation
17. Describe the relationship between the accounting equation and the balance sheet