Course Code :

DIPB 02024

Title :

Basic Accounting for Business

Type/Status :


Learning Outcome : aaaaaaaaaaaaaaaa
After studying this course unit students should be able to;
  • Identify and define basic principles and concepts of accounting
  • Prepare control accounts, books of accounts and Financial Statements for sole proprietorships
  • Interpret the financial statements
  • Understand the business and professional ethics
  • Identify the concept of basic costing systems

Course Content :

Introduction to Financial Accounting, Accounting principles and concepts, Accounting equation and double entry system, Control accounts and other subsidiary ledgers, Components of Financial Statements for sole proprietorships, Interpretation and decision making on Financial Statements: (Ratio analysis), Business and professional ethics, Concepts of absorption and Marginal costing and their reconciliation.

Method of Teaching & Learning:

LLectures, Class room activities and discussions

Scheme of Evaluation:

Assignments, Presentations and Final examination. The weight given to each component of the evaluation method is announced at the commencement of the module.

Recommended Readings: Sri Lanka Accounting Standards (Framework),2012, Institute of Chartered Accountants of Sri Lanka, Maheshwari,S N and Maheshwari, S K (2006), Financial Accounting, 4th edition, Vikas Publishing House Pvt Ltd, Code of Best Practice,

Institute of Chartered Accountants of Sri Lanka, Duray, C (2007), Management and Cost Accounting, Thomson Learning, India