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ACC 101 Introduction to Financial Accounting I

100 levelManagement & Administration12 topics

ACC 101 covers 12 topics. StudyPath paces them into daily study sessions that finish before your exam date, with practice questions and worked answers for each one.

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Course outline

The topics this course covers, in teaching order.

  1. Nature and scope of accounting
  2. Definition of bookkeeping and accounting: differences and similarities
  3. Objectives of financial accounting
  4. The financial accounting cycle
  5. Branches of accounting
  6. Methods of recording accounting data (manual and electronic)
  7. Source documents for bookkeeping
  8. Principal/prime books of entry and ledgers
  9. Principles of double-entry and the accounting equation
  10. The trial balance
  11. Bank reconciliation statement
  12. Classification of revenue/receipts and expenditure (capital and revenue)

A sample from this course

One topic, as StudyPath teaches it.

Nature and scope of accounting

The nature and scope of accounting centres on what accounting is, why organisations keep accounting records, and the range of activities covered by the accounting function. For exams, you must master the meaning, objectives, users, and basic branches of accounting because these ideas explain how financial information is identified, measured, recorded, summarised, and communicated for decision-making.

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