BPA1106 Fundamentals of Accounting

This course introduces to the learner the basics of financial accounting and reporting, particularly the processes through which Human Resource Managers are able to communicate to the users of accounting information. Students are introduced to the double entry rule in accounting and the accruals system. The course introduces to students the accounting period, matching, and the going concern issues and how these trigger accounting measurements and recognition criteria. Therefore, the course introduces to students the generally accepted accounting practice. 

Course Objectives
 By the end of the course, students will be able to: 

• Explain the role of accounting and describe the reporting framework of accounting in Uganda. 
• Define the qualitative characteristics of financial information and the fundamental accounting concepts. 
• Identify source of accounting data documents and complete them 
• Explain the importance of business transactions and define the financial position of an enterprise 
• Record business transactions and events using the double entry accounting system 

Learning outcomes
On completion of the course, the learner should be able to: 

• Appreciate the basic financial statements 
• Define net profit and its two major components, revenues and expenses. 
• Critically analyze the principal situations that require adjusting entries and prepare typical adjusting entries 
• Prepare and compare basic financial statements for sole traders and companies, manufacturing concerns and non-profit making organizations.