Faculty of Business and Management Sciences · Islamic Economics and Finance · Undergraduate
Course Objective
The objective of this course is to introduce students to the fundamental concepts of accounting, the logic of financial reporting, and the functioning of the accounting process in businesses. Upon completion of this course, students will possess the knowledge and skills to record business activities in accounting records, prepare basic financial statements, and interpret these statements.
Course Content
Definition, purpose, and basic concepts of accounting
Uniform Chart of Accounts and accounting principles
Accounting process and accounting record process
Period transactions and journal entries
Preparing a trial balance
Period-end procedures (closing entries, closing income and expense accounts)
Preparation of basic financial statements (Balance Sheet, Income Statement)
Course Learning Outcomes
- Explain the basic concepts and principles of accounting.
- Classify accounts according to the Uniform Chart of Accounts and apply the rules governing their operation.
- Record business transactions in the journal and the general ledger.
- Prepare a trial balance.
- Prepare the balance sheet and income statement.
Core Area Distribution
Teaching Methods
Assessment & Evaluation
ECTS / Workload
| Activity | Quantity | Duration (h) | Total Workload |
|---|---|---|---|
| Course Duration (Including Exam Week) | 16 | 3 | 48 |
| Out of Class Study Period | 16 | 2 | 32 |
| Midterm | 1 | 10 | 10 |
| Quiz | 0 | 0 | 0 |
| Assignment | 3 | 5 | 15 |
| Practice | 0 | 0 | 0 |
| Final | 1 | 20 | 20 |
Course Schedule
| Week | Subject | Preparation |
|---|---|---|
| 1 | Introduction to Accounting and Basic Accounting Concepts | Read the relevant chapter in the textbook. |
| 2 | Accounting System, Accounting Equation and Basic Financial Statements | Read the relevant chapter in the textbook. |
| 3 | Introduction to Balance Sheet and Income Statement Accounts | Read the relevant chapter in the textbook. |
| 4 | Asset Accounts I – Cash, Cash Equivalents and Marketable Securities | Read the relevant chapter in the textbook. |
| 5 | Asset Accounts II – Trade Receivables and Inventories | Read the relevant chapter in the textbook. |
| 6 | Asset Accounts III – Non-Current Assets and Other Asset Accounts | Read the relevant chapter in the textbook. |
| 7 | Practice – Asset Accounts and Accounting Entries | Review the topics covered in previous weeks. |
| 8 | Midterm Exam | Prepare for the midterm exam. |
| 9 | Liability Accounts I – Short-Term Liabilities | Read the relevant chapter in the textbook. |
| 10 | Liability Accounts II – Long-Term Liabilities and Equity | Read the relevant chapter in the textbook. |
| 11 | Income Statement Accounts I – Revenue Accounts | Read the relevant chapter in the textbook. |
| 12 | Income Statement Accounts II – Expense Accounts | Read the relevant chapter in the textbook. |
| 13 | Journal, General Ledger and Trial Balance Applications | Read the relevant chapter in the textbook. |
| 14 | Practice – Comprehensive Accounting Cycle Application | Review the topics covered throughout the semester and examine the practice questions. |
| 15 | Final Exam | Prepare for the final exam. |
| 16 | Final Exam | - |