Principles of Accounting

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label Diverse autorenew 2025-09-29, 17:01 history_edu Cristian Ion
This course introduces the concepts, theories and applications of financial accounting. Accounting is a process that provides financial information to investors, creditors, and many other stakeholders in a company. The topics covered in this course include double entry system, accrual accounting, matching principle, inventory cost flow assumptions, asset depreciation, and accounting for financial assets and liabilities.

The course will introduce students to topics such as accounting as an information system and overview of the main financial statements, how to calculate the profit/loss of a company, and how to analyze a company's Balance Sheet. This includes the double entry system and recording of entries, accruals and deferrals accounting and their respective adjusting entries.

The course will cover closing entries, closing temporary and end of year account balances, along with inventory and Cost of Goods Sold Cost flow assumptions; FIFO, LIFO, WAC, Identification Method. Long-Term Assets Capital versus Revenue expenditures, Depreciation Methods and adjusting entries will also be taught. Students can also expect to cover current and long-term liabilities including bonds, the debt amortization schedule, analyzing financial statements, and ratio analysis of a company's liquidity and profitability.

Period
28-07-2014 - 15-08-2014 (3 weeks)

Target group
This course is aimed at students wishing to pursue a business degree with a concentration in Accounting, however participants pursuing degrees from fields such as Finance and Economics can also benefit greatly from this course as it deals with the fundamentals used in everyday business operations. This is an introductory course so no prior knowledge of Accounting is required, although some exposure to economics and basic mathematics would clearly help. The tutor will highlight any need for a student to do further work in a specific area.



Course aim
The aims of this course are to make it possible for students to: Learn the fundamental concepts of accounting and the importance of financial statements; Learn how to record transactions using the double entry book keeping system; Read and analyze company financial statements using profitability and liquidity ratios; Prepare for more advanced courses in accounting and finance.

Credits
0.0 ECTS credits

Course fee
GBP 1430: tuition fee only

Course leader
Mr. Roland Gemayel

Roland has a Bachelors degree in Finance from the American University of Beirut, a Masters in Finance from Cass Business School, and is currently pursuing a PhD in Finance at Kings College London.

King's College London
Address: Strand, London
Postal code: WC2R 2LS
City: London
Country: United Kingdom
Website: http://www.kcl.ac.uk/summerschool
E-mail: summerschool@kcl.ac.uk
Phone: +44 20 7848 1533