Course title

Principles of Accounting

Code

 ACC 110

Professor

Prof. Zorica Bozhinovska Lazarevska, PhD

Prof. Marina Trpeska, PhD

The course Principles of Accounting has been accredited by ACCA (Association of Chartered Certified Accountants). Accreditation brings great benefits to the students of the Faculty of Economics – Skopje. Thanks to the accreditation, they can receive exemptions from ACCA papers during their studies, thus greatly accelerating their path to ACCA membership.

Course objectives (competences):

Upon completion of the course instruction and successful passing of the examination, students should be able to:

• Understand the potential users of accounting information and the basic modalities of external and internal reporting;
• Acquire satisfactory knowledge of the basic principles of accounting and how to implement them;
• Get acquainted with the basic financial statements, i.e. the Balance Sheet, the Income Statement and the Cash Flow Statements and the information each of them offers to potential readers of the reports;
• Master the basic techniques of accounting for assets, liabilities and equity by applying the accounting equation;
• Become familiar with the accounting for income and expenses as components of the Income Statement;

Course content:

1.  Accounting in Business Planning;
2.  Analyzing and recording transactions;
3.  Adjusting entries in the financial statements;
4.  Completing the accounting cycle;
5.  Accounting for trading companies;
6.  Supplies;
7.  Frauds, Internal Controls and Cash;
8.  Accounts Receivable;
9.  Non-current assets;
10.  Current liabilities;
11.  Long-term liabilities;
12.  Equity.