Study Guide

Learning objectives

After completing the course, the student is able to
- describe the importance of financial accounting in business
- record the basic entries on temporary accounts and post their balances on permanent accounts and then calculate company's profit
- prepare a CVP income statement and use that in budgeting
- prepare a cash budget and an estimated balance sheet according to given information.

Content

- the role of financial administration in a company
- double-entry bookkeeping
- the structure of income statement and balance sheet
- main budgets