General description
This course aims to show the historical development of the accounting concept until the accounting information system, define the accounting cycle and the most important stages it goes through; In addition to, how to record daily entries based on supporting documents, how to prepare accounts for the general ledger and prepare inventory adjustments at the end of the financial period and how to prepare final accounts and financial statements for tourism establishments.
Learning outcomes:
At the end of this course, the student will be able to:
- Describe the accounting cycle for establishments.
- Record daily entries in the establishments bookkeeping.
- Carry out the transfer process to the general ledger and prepare its detailed accounts.
- Perform inventory adjustments for the financial period.
- Prepare trial balance and final accounts necessary to prepare the final financial statements.
- Prepare the financial statements for individual establishments, income statement, equity statement, balance sheet, and budget.