The aim of this course is to introduce students to the necessity, importance, and purpose of inventory procedures, as well as the process of inventorying assets, liabilities, income, and expenses, and the preparation of balance sheets and income statements.

This course examines year-end accounting procedures, inventory, valuation and profit and cash, short- and long-term securities investments, trade and other receivables, inventories, tangible and intangible assets, financial liabilities, trade and other payables, advances received, taxes and other liabilities payable, provisions for liabilities and expenses, equity, revenues, costs, and expense inventory procedures. Additionally, this course includes an introduction to financial statements and the preparation of the balance sheet and income statement.