Accounting

ABOUT THIS COURSE: This course introduces students to fundamental bookkeeping principles, beginning with the cash book, which records cash receipts and payments. Students will learn about different types of cash books, including the double-column and three-column cash books, which incorporate bank and discount columns for more detailed financial tracking.

The petty cash book will be explored, teaching students how small, daily expenses are managed efficiently using the imprest system. The classification of accounts will help students understand the categorization of financial transactions into assets, liabilities, income, and expenses.

The course will also cover the preparation of a trial balance, which ensures that accounting records are accurate and balanced. Finally, students will study the correction of errors in accounting, learning how to identify and rectify mistakes to maintain reliable financial statements.