| dc.description.abstract | Dear Student,
First of all, congratulations on taking the Introduction to accounting course. In this course
you will acquire a basic knowledge in the area of accounting, which is usually called as
“the language of business”. Once you have successfully finished your semester work, you
will have a good command of all the basic expressions of accounting, you will understand
the most important financial statements prepared by companies, as well as the bookkeeping
background that is inevitable for providing reliable and authentic information
about the performance of a company in a given financial year.
The learning material is divided into ten chapters. In the first chapter, you will be
introduced into the area of accounting by defining some basic expressions and principles
of this profession. Then, in chapters 2-5, the most important elements of annual reports
(the financial statements) are discussed in details, where you will understand what these
statements contain and how they should be prepared. This is followed by the discussion
of the book-keeping system in chapters 6-9, which will give you the opportunity to see
how different transactions are recorded in order to provide an information basis for
preparing an annual report. Finally, chapter 10 summarizes the entire accounting cycle,
which will help you to put the pieces (what you have learned in the first nine chapters)
together and see the ‘big picture’.
At the end of each chapter, there are questions that help you check your knowledge. Also,
in the chapters that contain definitions or other theoretical or methodological knowledge,
you will find test questions. However, it is very important to emphasize that accounting is
a practical area, which means that, beyond the theoretical basis, you should concentrate
on the practical application. Therefore, in most of the chapters, you will find practical
exercises that will help you see how the discussed methods are applied in practice.
The knowledge, methods and applications presented in this book are in compliance with
the International Financial Reporting Standards (IFRS). However, I would like to note that
this is an introductory course, therefore, we will only concentrate on the basics of
accounting, avoiding complicated rules and methods stated in particular IFRS standards.
(The latter may be subject to other courses during your future studies.)
Students tend to believe that accounting is a difficult subject, but one thing is for sure:
completing this module is possible for everyone, and you may come through with the best
grade. So be patient, motivated and never give up!
Good luck:
The author | hu |
