This subject guides students through the manual process of setting up financial statement accounts, emphasizing project-based day-to-day business processing, including month-end and year-end reporting and procedures.

Knowledge Core Competency: Upon completion of this subject, students are expected to summarize the major components of a manual accounting system and state the fundamental principles of accounting.

Objectives:

1. Explain how to maintain journals for cash transactions.
2. Summarize the process of creating a chart of accounts.
3. Discuss working with accounting entries.
4. Explain the key components of the bookkeeping and accounting process.

Skill Core Competency: Upon completion of this subject, students should be able to perform manual accounting functions to maintain a full set of accounting books and prepare financial statements.

Objectives:

1. Operate a company’s manual accounting system.
2. Prepare and enter journal entries manually.
3. Work with books of original entry.
4. Maintain a complete set of accounting records.
5. Prepare the company’s cash transaction books.
6. Utilize appropriate bookkeeping and accounting terminology.