Financial accounting 111: The nature and function of accounting; the development of accounting; financial position; financial result; the recording process; processing of accounting data; treatment of VAT; elementary income statement and balance sheet; flow of documents; accounting systems; introduction to internal control and internal control measures; bank reconciliations; control accounts; adjustments; financial statements of a sole proprietorship; the accounting framework.
 
This module is of critical importance to understand. It requires many hours devoted to it to ensure passing and understanding. It is not difficult, if you devote time and practice to it.
It is assessed through homework assignments, online tests throughout the semester (ICTS) as well as the semester tests which are assessed online.
Going through the questions book as well as past papers are essential as ‘practice makes perfect’. You will need to know your theory, but more attention must be put onto the application of knowledge.
 
Semester test 1: Chapters 1-5
Semester test 2: Chapters 4-8
Exam: Chapters 1-10