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The course forms the second half of a two-semester course in Financial Accounting required for all CAPE Accounting major students. The course exposes students to and focuses on the fundamentals of Financial Accounting. Financial accounting deals with the recording, summarizing and communicating of the economic events of entities, based on established accounting principles, standards and legislation. This course will cover topics such as preparation of financial statements and disclosure requirements, financial reporting and interpretation including ratio analysis and its limitations, and the preparation of cash flows statements, and liquidation and receivership. 

The course forms the second half of a two-semester course in financial accounting and reporting that is required for all business students.  This course concentrates on the fundamentals of accounting for assets, liabilities, and equities for corporations.  It begins with Internal Control Systems, followed by Short Term Liquid Assets, Long Term Assets, Current Liabilities, Long Term Liabilities and Corporations.

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 the principles of auditing. It provides a history of auditing and a background for performing financial audits to help the student understand why auditors perform audits the way they do. Moreover, the course will discuss the philosophy and environment of auditing. This will include an overview of the public accounting profession with special attention to auditing standards, professional ethics, the legal liability inherent in the attest function, the study and evaluation of internal control, the nature of evidence, the growing use of statistical sampling, the impact of electronic data processing, (EDP) and the basic approach to planning an audit and preparing the audit report.