1 MPA 701 Accounting Topic 4- Special Journals – Subsidiary Ledgers Special Journals Subsidiary Ledgers Conceptual Framework - Qualitative Accounting Regulations Measurement issues
2 Upon completing this topic you should be able to: 1. Understand the role of special journals, subsidiary ledgers and control accounts within the accounting recording system 2. Be able to record transactions using special journals, subsidiary ledgers and control accounts 3. Explain GAAP 4. Describe the set of principles that guide the preparation of financial statements 5. Define the elements of the financial statements and the recognition criteria 6. Explain the need for corporate governance and its key components 7. Explain the purpose of an audit and the affect of financial information on the capital market
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