Course Outline - Business Administration Program: Year 1 ACCT 106 Accounting 1

Brief Course Description

Within the conceptual framework of accounting, including generally Accepted Accounting Principles, students are introduced to the Accounting equation and the effect various transactions have on it.

An introduction to ledgers, journalizing transactions, trial balance, Income statement and balance sheet are presented. The Accounting cycle, accounting for merchandise operations, internal control, accounts receivable, accounts payable, cash control, and the valuation of inventories are examined.

Course Prerequisites


Learning Objectives*

On completion of the Unit the candidate will be able to:
  1. Analyze business transactions and record their effect.
  2. Use and maintain a basic set of books, including the general journal, special journals, and general ledger.
  3. Prepare a worksheet, year-end adjusting entries and financial statements, in accordance with Generally Accepted Accounting Principles.
  4. Account for Current Assets.
  5. Determine the effect of Current Assets on Net Income.

Required course materials*

Larson, Jensen, and Dieckman, Fundamental Accounting Principles Volume 1, 2019, 16th Edition, McGraw Hill

Murnaghan, Tamsyn, Lyryx access code for homework and case studies, Lyryx

Course Duration

The Course Duration is 64 Hours

Homework Hours

Course Homework Hours will be 10 hours per week approximately.

Delivery Methods

Indicate how the course is delivered: X In-class instruction
  • Distance education
  • Combined delivery (both in-class and distance)

Teaching Methods*

Teaching Methods will Involve Seminar Format, Lecture format and Laboratory Format depending upon the course demand

Method(s) of Student Evaluation*

Type of Assessment Value
Assignments 40%
Exams 60%
Total 100%

Completion Requirements*

A Candidate has to attain a minimum score of 50% overall to ensure successful course completion