ACC 101: Introduction to Accounting I

History, Concepts and Theory of Accounting; Users of Financial Statements; the Accounting functions and its Relationship with the Information System of Organisation; Accounting Procedures and Systems; Double- Entry Book- Keeping system; the Trial balance; Suspense Accounts, Types of Errors and Corrections; Classification of Expenditure Between Capital and Revenue expenditure; methods of Recording Accounting data: Manual and Mechanical; Bank Reconciliation and Control Accounts; Preparation of Financial Statements.