Core
ACC101: Elements of Book-keeping I
INTRODUCTION
You are holding in your hand the course guide for ACC101 (Book Keeping I). The purpose of the course guide is to relate to you the basic structure of the course material you are expected to study as a student undertaking a basic course in Accounting in National Open University of Nigeria. Like the name ‘course guide’ implies, it is to guide you on what to expect from the course material at the end of studying the course material.
What Will You Learn?
The course content consists basically of the treatment of transactions according to the Generally Acceptable Accounting Principles (GAAP). Specifically, the course material is focused on bookkeeping as a foundational aspect of accounting. The concept of bookkeeping starts from source documents to the trial balance, which is to check the arithmetical accuracy of the ledger account. Bank reconciliation statement was also discussed.
Teacher Of Course
Includes
At the end of studying this course, among other objectives, you should be able to:
1. Identify the basic parts of bookkeeping;
2. Describe the key rules and guidelines required in a medical office that encourage bookkeeping;
3. Mention and describe accounting concepts and conventions;
4. Discuss the importance and necessity for uniformity in accounting practices;
5. Explain the relevance of the accounting entity concept;
6. Describe the accounting equation;
7. Explain the nature of assets, liabilities and capital;
8. Explain the relevance of accounting period concept in financial accounting;
9. Distinguish between revenue expenditure and capital expenditure; and
10. Make entries into the prime books of entry.
Course Display
Core
Course Department
Course Features
Concepts and conventions
Accounting entity concept
Lessons Of Course
Elements of Bookkeeping
07:10
Basic Documents
07:40
Books of Prime Entry
05:45
The cash Book
07:28
The Petty Cash Book
07:48