ACC 201: Financial Accounting I

Learning Outcomes

At the end of this course, students should be able to:

1. appreciate the framework for the preparation and presentation of financial statements;
2. prepare simple financial statements of a limited liability company;
3. account for borrowing cost;
4. discuss accounting for government grants;
5. define relevant terms under IFRS 15 – Revenue;

• account for inventory;
• explain accounting policies; and
• define relevant terms under IFRS 15 – Revenue.

Course Contents

IASB framework for the preparation and presentation of financial statements. Introduction to IFRS 15 – Revenue and IAS 1. Presentation of Financial Statements. IAS 2. Accounting for inventories. Introduction to IAS 8 – Accounting policies, IAS 16 – Property, plant and equipment, IAS 20 – Government Grants and IAS 23 – Borrowing Costs.