Topic outline

  • Welcome to Accounting!

    "Ancient Egyptians believed writing was a gift from the gods, [...] the truth has more to do with accounting than divine intervention", Tim Harford

    While you are not here to learn history, the significance of accounting to human civilization extends to its significance towards your career (business or non-business student). To stress this point, list to what Warran Buffet, who arguably has made some wise choices in his life, has to say about this. 


    This course provides an introduction to essential theories, concepts, vocabulary, and practices of accounting. Attention is given to the role and methods of accounting in business organizations. Distinctions are made between financial accounting and managerial accounting with relevant applications. After the course, a student will be able to read financial statements and interpret key financial figures, evaluate the financial value of companies, and understand the role of financial control in organizations in general.


    After successfully completing the course, you will have achieved the following learning outcomes:

    1. understand basic theories, concepts and practices of accounting
    2. understand the role of accounting in the management of business institution
    3. understand the essential distinction between financial and managerial accounting
    4. understand the concepts and role of revenue, expense, asset, liability and equity accounts in financial accounting
    5. understand and develop income statements
    6. understand and prepare balance sheets
    7. understand and develop cash flow statements.

    Please refer to the syllabus for full detail.