Available courses

Course Description: This course introduces the fundamental principles of business organization, ownership, operation, and control. 

Course Learning Outcomes

As a result of successful completion of this course you will be able to:

1.    Define and advise on the application of Ethics and social responsibility (ILO)

2.    Contribute towards group presentation assignments and learn to work well with others (ILO)

3.    Understand the fundamental principles of business organization, ownership and control.

4.    Understand the various types of business enterprises and choose the most appropriate under the existing circumstances.

5.    Critically analyze the influence of the environmental and other external factors on doing business.

6.    List and explain the four factors of production required to sustain a business 

7.    Identify the primary functional areas within a business and describe their contribution to the organization

8.    Identify business stakeholders and describe their relationship with business organizations

 



Welcome to the Introduction to Financial Accounting class……😊

This course examines the use of financial accounting within an organization and provides a better understanding of the overall role it plays in defining and understanding an organization’s economic performance.

Studying financial accounting is not difficult...there is just a lot to learn. In a fast-changing world, brimming with social and economic uncertainty, financial information plays a vital role in the life of an organization and does so with two sets of eyes. One set, those relevant to this course, looks back to see what has happened. This is the accounting function which, in simple terms, is about the recording of events and the production of the financial reports that satisfy the stewardship responsibility of management. The other set, which you should be aware of, looks forward determining the most appropriate strategic direction for an organization, guiding managerial actions, motivating behaviors, and creating and supporting the cultural values necessary to achieve an organization’s strategic objectives.

This course is all about the first set of eyes that help users of the information produced understand how the organization performed, where it has invested for the future, how it has financed its operations, and whether its source of funds exceeds its outgoings. How does this happen? It starts with understanding the financial impact of every business transaction. This information is then recorded in the books of account, which are appropriately categorized. Then, at regular intervals, financial statements are prepared and distributed to every interested party. These parties include the owners of the business, the business’ managers, business partners on either side of the supply chain, banks and other lenders, and the Revenue authorities.

People generally make the management of an organization’s financial affairs far more complicated than it really needs to be because they can be greedy, deceitful, or just afraid of the consequences of telling the truth. Or they are honest and upright citizens who simply wish to present a realistic picture of the financial affairs of the organization. It is difficult to tell which of these attitudes the people had when they were providing financial information to owners, managers and other interested parties.

So far, so good, but sometimes the information provided seems hard to follow and at other times it needs quite a lot of thought and judgement to properly understand. It is important that everyone involved in a business environment appreciates and understands the concepts and uses of financial accounting because, if you don't, you may be misled by intelligent people who are motivated to misbehave.

Feeling nervous? Well, here are some words of encouragement...

First, it is really the human factor that makes accounting interesting. Accountants are generally well paid and respected. If their craft was just the mechanical processing of business data, then there would be very little need for them to engage in much study beyond secondary school, very little need for employers to reward them so well, and little opportunity for recognition in the commercial world.

Second, the learning curve is not as steep as it seems. The topics you learn later in your program of study may seem to be more complicated, but the hardest part is simply appreciating how each of the topics integrates into the whole that supports business management and decision making.

Welcome to the Introduction to Financial Accounting class……😊

This course examines the use of financial accounting within an organization and provides a better understanding of the overall role it plays in defining and understanding an organization’s economic performance.

Studying financial accounting is not difficult...there is just a lot to learn. In a fast-changing world, brimming with social and economic uncertainty, financial information plays a vital role in the life of an organization and does so with two sets of eyes. One set, those relevant to this course, looks back to see what has happened. This is the accounting function which, in simple terms, is about the recording of events and the production of the financial reports that satisfy the stewardship responsibility of management. The other set, which you should be aware of, looks forward determining the most appropriate strategic direction for an organization, guiding managerial actions, motivating behaviors, and creating and supporting the cultural values necessary to achieve an organization’s strategic objectives.

This course is all about the first set of eyes that help users of the information produced understand how the organization performed, where it has invested for the future, how it has financed its operations, and whether its source of funds exceeds its outgoings. How does this happen? It starts with understanding the financial impact of every business transaction. This information is then recorded in the books of account, which are appropriately categorized. Then, at regular intervals, financial statements are prepared and distributed to every interested party. These parties include the owners of the business, the business’ managers, business partners on either side of the supply chain, banks and other lenders, and the Revenue authorities.

People generally make the management of an organization’s financial affairs far more complicated than it really needs to be because they can be greedy, deceitful, or just afraid of the consequences of telling the truth. Or they are honest and upright citizens who simply wish to present a realistic picture of the financial affairs of the organization. It is difficult to tell which of these attitudes the people had when they were providing financial information to owners, managers and other interested parties.

So far, so good, but sometimes the information provided seems hard to follow and at other times it needs quite a lot of thought and judgement to properly understand. It is important that everyone involved in a business environment appreciates and understands the concepts and uses of financial accounting because, if you don't, you may be misled by intelligent people who are motivated to misbehave.

Feeling nervous? Well, here are some words of encouragement...

First, it is really the human factor that makes accounting interesting. Accountants are generally well paid and respected. If their craft was just the mechanical processing of business data, then there would be very little need for them to engage in much study beyond secondary school, very little need for employers to reward them so well, and little opportunity for recognition in the commercial world.

Second, the learning curve is not as steep as it seems. The topics you learn later in your program of study may seem to be more complicated, but the hardest part is simply appreciating how each of the topics integrates into the whole that supports business management and decision making.