Course Description & Objectives:
- Record keeping; ledger income statement, balance sheet, assets and liabilities, analysis of simple financial statements. Interest discounts and commissions.
- Simple and compound interest, calculation of discount and commissions.
- Concept of Accounts; accounting cycle; inventories and firm assets; journals; ledgers.
- Debt accounting. Financial accounting: trial balance, final accounts, receipts and payments; income and expenditure account.
- Deprecations, reserves and provision; capital and revenue expenditure and receipts; manufacturing accounts; partnership accounts; bank reconciliation.
- Internal audit and control procedures; budget and budgetary controls.
- Accounting practices of tourism establishments (tour and travel bureaus, hotels, motels, restaurants, etc);
- Review of accounting principles, accounting for sales, accounting for cash receipts, accounting for purchases, accounting for wages, departmentalized worksheet, reports to management.
GEO 2210.doc