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AC 503 Financial Accounting

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    • Profile picture
    Jul 20, 2016
    | Would highly recommend.

    This class was tough.

    Course Overview:

    I would recommend this course because it is really challenging especially for all the neophytes out there who are afraid to enroll BSA. It gives a better job security and on the contrary as people say it's quite hard well what it really does is boost up your analyzation skills and prepare you for the best that you can be.

    Course highlights:

    The highlights of these course is a business or an organization needs a tool to communicate its results and position to stakeholders, a tool that is commonly understood by all. For that purpose, accounting serves as the ‘language of business”. Stakeholders, in return, use this information make sound decisions. Bearing these in mind, this course aims to convey sufficient knowledge for an adequate interpretation, analysis and use the information provided by financial accounting. Following an investigation of the accounting information system and accounting cycle, the course will deepen knowledge on all the components of the balance sheet, using a double entry bookkeeping perspective. By the end of the course, students are expected be able to analyze a company’s financial statements and come to a reasoned conclusion about the financial situation of the company.

    Hours per week:

    3-5 hours

    Advice for students:

    I believe all of us, bean counters, know what a trial balance is. A trial balance is a list of all the ledger accounts of an entity with its value or amount. It ensures that for every debit entry recorded, a corresponding credit entry has been recorded in the books in accordance with the double entry concept of accounting. The debit balances must equal the credit balances and discrepancies must be investigated. Likewise, we should always think of how to balance the negatives and positives that comes in our life. It does not matter when suffering comes our way, because God has given us hope to rejoice in the midst of it. The Book of James verses two to three says, "Consider it pure joy, my brothers and sisters, whenever you face trials of many kinds, because you know that the testing of your faith produces perseverance.” Keep in mind that once the storm is over, you will wonder how you made it through and how you managed to survive. You cannot be sure whether the storm is really over but one thing is certain; when you come out of the storm, you would not be the same person who walked in. That is what this storm is all about. It is a test of endurance, perseverance and faith. So the next time you have been in a bad situation, do these things: breathe, pray, and believe that God is in control and say, “Hakuna Matata!”

    • Spring 2016
    • Lleve

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