This is the first/introductory course of the Department of Agricultural Economics and Development in Financial Accounting focusing on Financial Accounting Principles in the context of the International Financial Reporting Standards (IFRS). The aim of the course is to provide students with the necessary theoretical knowledge and techniques used internationally in financial accounting and reporting.
Upon successful completion of this course students will be able to:
– Understand the principles of financial accounting, the financial cycle, recording of transactions and reporting in the: Statement of Financial Position; Statement of Comprehensive Income; Statement of Changes in Equity; Statement of Cash Flows.
– Analyze the requirements of a particular accounting issue and apply the knowledge offered in practice.
– Know and comprehend the appropriate terminology in Financial Accounting as well as the relevant modern reporting approaches.
– Make necessary Journal entries and prepare the relevant financial statements.