Department of Economics

Accounting I

Code: ACC101

Semester: A

Instructors: D. Vasiliou, N. Eriotis and D. Balios

Class – Hours per week 4 hours (3 hours lecture and 1 hour tutorial)

Aims and Objectives

This course provides the undergraduate with the fundamentals of financial accounting. Identifies the concepts and the methods of recording the business’s transactions in the General Journal, posting them in the General Lender and prepare the Trial Balance, the Income Statement and the Balance sheet of the firm.

Course outline

• Basics of accounting
• Financial statements
• Accounting systems
• Accounting equation
• Accounting and business transactions
• Accounting period
• Accounting records
• Common errors in accounting
• Inventory taking and stock taking
• Adjustment entries
• Trial balance
• Income statement
• Balance sheet
• Opening and closing the accounting records of the accounting period

Textbooks

D. Vasiliou, N. Eriotis and D. Balios, “Principles of Financial Accounting-Financial statement analysis and decision making”, Rosili, 2019, in Greek.

Anthony Rice, «Applied accounting and financial analysis», Rosili, 2016.