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1.1 Accounting as a form of communication: What is accounting and what information dousers of accounting reports need; Forms of organizations (sole proprietorships, partnerships, corporations/companies, and non-business entities); Corporate social responsibilities; The nature of business activity (financing, investing, and operating);Foundation for financial Statements (economic entity, going concern, time period assumptions); Overview of accounting standards (IFRS, GAAP, and NAS); Ethics in accounting; Overview of financial statements and annual report (objectives and qualitative characteristics).

1.2 Processing of accounting information: The bases for recording transactions; What is an account (charts of accounts, general ledger, double entry system, rules of debits and credits, journal, and T accounts); Comparing the cash and accrual bases of accounting; Revenue recognition, expense recognition, and matching principle; The accounting cycle.

1.3 Cash and internal control: what constitutes cash; Control over cash (cash management, reading a bank statement, bank reconciliation statement, and need for adjustments tothe record); Establishing a petty cash fund; Internal control procedures.

1.4 Operating assets, property, plant and equipments and intangibles: Acquisition (group purchase, capitalization of interests, and improvement of land); Depreciation methods; Disposal of property, plant and equipments (gain, loss and provision in IFRS and NAS).

1.5 Financial statements analysis: Precautions; horizontal versus vertical analysis; liquidity, solvency, and profitability analysis

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