Course Title: Principles of Accounting I
Course Code: ACC 111
Credit Value: 3 Credits

Contact Hours:

• Lectures: 2 hours per week

• Practical / Laboratory Sessions: 2 hours per week

Duration: 15 Weeks (One Semester)
Prerequisites: None
Primary Platform: Manual and computerised accounting tools (Microsoft Excel, QuickBooks, GnuCash)

1. COURSE DESCRIPTION

Principles of Accounting I introduces students to the fundamental concepts, principles, and conventions of financial accounting. The course places strong emphasis on the practical application of accounting theory, enabling students to record, summarise, and report business transactions accurately.

Students will learn how to prepare basic financial statements, identify and correct errors, and apply ethical standards in accounting practice. Practical sessions will involve both manual bookkeeping methods and low-resource accounting software to simulate real-world business environments.

2. COURSE OBJECTIVES

By the end of this course, students should be able to:

1. Explain the purpose and role of financial accounting in business.

2. Apply fundamental accounting principles and conventions.

3. Record business transactions using the double-entry bookkeeping system.

4. Prepare basic financial statements, including income statements and balance sheets.

5. Use accounting software to record and report financial transactions.

6. Demonstrate ethical and civic responsibility in financial reporting.

3. LEARNING OUTCOMES

Upon successful completion of this course, students will be able to:

• Define and apply the accounting equation (Assets = Liabilities + Equity).

• Record, classify, and summarise financial transactions accurately.

• Prepare trial balances and make adjustments for basic accounting errors.

• Generate income statements and balance sheets for small business entities.

• Use spreadsheets or open-source accounting software for recording and reporting financial data.

• Demonstrate ethical and professional conduct in accounting tasks.