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A.U.E.B.

A.U.E.B.

Athens University of Economics and Business, Greece

S.U.S.K.O.

S.U.S.K.O.

Sofia University "St. Kliment Ohridski", Bulgaria

A.U.E.B.

A.U.E.B.

Athens University of Economics and Business, Greece

A.U.E.B.

A.U.E.B.

Athens University of Economics and Business

U.W.

U.W.

University of Warsaw, Poland

U.W.

U.W.

University of Warsaw, Poland

S.U.S.K.O.

S.U.S.K.O.

Sofia University "St. Kliment Ohridski", Bulgaria

T.U.K.E.

T.U.K.E.

Technical University of Kosice, Slovakia

Financial accounting

Introduction to Financial Accounting

Module 1 aims at introducing the user to concepts of accounting such as the accounting equation and the accounting events, the accounting books and mechanisms and the accounting cycle. Furthermore a brief analysis of accounting for fixed assets, current assets, equity, long-term liabilities, short-term liabilities, as well as, revenues and expenses is provided.

When completing this module the user will be able to:

  • Define accounting and its role in making informed decisions.
  • Define financial position and performance.
  • State the accounting equation and show how it is affected by transactions.
  • Record transactions to the general journal, post to the ledger and prepare trial balances.
  • Practice basic accounting for fixed assets, current assets, equity, long-term liabilities, short-term liabilities, revenues and expenses.

The studying process for Module 1 is based on an Internet based distance learning new educational platform.

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