ACC418 : Financial Accounting / Faculty of Accountancy

This course is designed to provide a fundamental understanding of the basic accounting concepts, principles and techniques of double entry system, procedures in preparing financial statements of a sole trader for merchandising and service enterprise and procedures in preparing financial statements of a partnership business. This course aims to provide students with the basic accounting knowledge of the total recording process as well as maintenance of full set of accounts that a business organisation should keep. It is also designed to develop the student’s skill in preparing financial statements for partnership, simple changes in partnership and accounting treatment for asset revaluation and changes in goodwill.