The objective of this course is to introduce students to the fundamental concepts, principles, and functions of accounting, and to teach the double-entry bookkeeping system and the operating rules of accounts. Furthermore, it aims to provide the skills to manage the accounting cycle from opening transactions to year-end closing procedures—which are of critical importance in the finance, banking, and insurance sectors—and to prepare and interpret financial statements such as the balance sheet and income statement.

Definition, functions, and basic concepts of accounting; balance sheet and income statement equation; the concept of account, chart of accounts, and operating rules of accounts; double-entry bookkeeping method; journal and general ledger entries; opening transactions; analysis of asset, liability, income, and expense accounts; preparation of trial balances; introduction to year-end inventory and valuation procedures; closing entries and reporting of basic financial statements.