Accounting Basics

This unit introduces the core principles of accounting and the double entry system, highlighting its role in managing business finances. Students will learn to record transactions, make end-of-period adjustments, and maintain ledger accounts for irrecoverable debts. The unit also explores key accounting concepts like going concern, prudence, and capital versus revenue expenditure, as well as the treatment and depreciation of non-current assets, with a focus on how these affect profit.