The subject gives students Basic concepts Accounting, Finance and Procurement Mangement system in developing a deeper level of understanding the processes involved when dealing with any business activities in business industry. Considering the major changes in the growth of business and economy in general, there is a need for communities to keep up with the pace of changes in business and economy.
Explain the Objectives of Accounting Explain Accounting Processes Describe forms of Accounting business transactions Identify Users of Financial Information and their needs Identify and Explain Accounting Principles Identify and Explain Qualitative characteristics of Financial Information Describe Accounting systems
1. Concept of double entry book keeping system 2. How to apply double entry system in accounting practices 3. Objectives of double entry book keeping system
1. Meaning of cash book or Cash account 2. Features of cash account 3. How to record financial transaction on cash account
1. Meaning of trial balance 2. Understand the objectives of trial balance 3. How to prepare trial balance
1. Understand the meaning of budget 2. Describe Budgeting process 3. Describe classification of budget 4. Describe the methods of budget 5. Importance of budget
1. Meaning of procurement 2. Describe the procurement process 3. Documents involves in procurement process 4. How does procurement take place 5. Importance of procurent in purchasing materials