The course forms the first half of a two-semester course in international financial accounting and reporting that is required for all business students.  This course concentrates on basic bookkeeping including receipts and payments of cash, recording income and expenditure, the preparation of ledger accounts, the preparation of an initial trial balance, the adjusting process, the closing process, and the preparation of financial statements with adjustments. It provides the basic techniques required to enable students to prepare financial statements for various enterprises at a later stage. This accounting course exposes business students to follow International Accounting Standards (IASs) and International Financial Reporting Standards (IFRSs) in the preparation of final accounts of a sole trader, partnership, and corporation.


The course is a one semester course in international financial accounting and reporting that is required for tourism students.  This course concentrates on basic bookkeeping including invoicing, receipts and payments, recording income and expenditure, the preparation of ledger accounts and the preparation of an initial trial balance. It provides the basic techniques required to enable students to prepare financial statements for various enterprises at a later stage. This accounting course exposes business students to follow International Accounting Standards (IASs) and International Financial Reporting Standards (IFRSs) in the preparation of final accounts of a sole trader, partnership, and corporation.


The course introduces the student to accounting computer software QuickBooks Pro which facilitates record keeping and the generation of financial statements and meets other needs of a small business. Students will have the opportunity to set up a new company profile and chart of accounts, record transactions, manage lists, run and customize reports and eventually run the program.

The course in Financial Accounting is required for all Accounting major students. The course exposes students to and focuses on the nature, scope, and fundamentals of Financial Accounting, which provides financial information primarily for decision-makers outside the business entity. This financial information is provided to external decision-makers by means of general-purpose statements of operation (income statement), financial position (balance sheet), and cash flow (cash flow statement). The course also concentrates on the application of accounting theory, standards, principles and procedures to accounting problems as well as financial reporting, preparation, and interpretation of financial statements for sole proprietorships, partnerships, corporations, and small and medium-sized entities (SME). Furthermore, the course will cover topics such as the Accounting framework, control systems, the role of accounting as an Information System, Technology and Financial Accounting, and forms of business organization, to mention a few.