Accounting

This subject introduces students to specialized areas of financial accounting beyond the basic double-entry system. It begins with single entry and incomplete records, teaching students how to derive financial information when full accounting records are not maintained. This is followed by control accounts, which help in tracking and reconciling receivables and payables efficiently, ensuring accuracy and detecting errors in the books.

The course then focuses on the accounts of non-profit-making organizations, where students will learn how to prepare financial statements for entities such as clubs, charities, and associations. Through practical illustrations, they will apply these concepts in real-life scenarios. The latter part of the course introduces joint venture accounts, used when two or more parties undertake a specific business project together, and consignment accounts, which track the sale of goods sent by one party (consignor) to another (consignee). This curriculum equips students with the skills to handle diverse accounting scenarios encountered in practice.