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Introduction Content
Introduction Content
Learning above will enable to manage a sole proprietorship business better as learner will
understand the basic accounting process. Even, a learner who follows this course first
time will be able to grasp the subject well and activities will support to improve the skills
of accounting. Accounting is the language of business; if a person does not know how to
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read financial statements he is incapacitate to get better decisions. Therefore having
sound accounting knowledge is prerequisite to manage business organization optimal
way. This course will put a concrete foundation to the subject of financial accounting.
Activities
Attempting to do the activities and answering review questions will help
you to assess your comprehension of what you read in the text and to
check whether you have achieved the objectives given at the end of each
study sessions. Answering the model and past paper questions and getting
them self-evaluated will help you to familiarize with the types of
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evaluations and also to improve your skills in synthesis and writing.
Online activities are available to the students to make the subject more
interactive and interesting. You will be guided how to log in to the
Learning Management System (LMS) at the days school.
Study Hours
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This unit will require approximately 100 hours of study out of 250 total hours
allocated to the MSU3506 course of study.
Day Schools
Four hours of one day school is scheduled to be held for this unit.
Evaluation
The take home assignment and continuous assessment test (CAT) will be based on
this unit. The time table you receive at the time of registration will indicate the date
and time of the test based on this unit.
Acknowledgements
Grateful acknowledgements are made to the following sources of information.
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Copyright © (2019), The Open University of Sri Lanka
MSU3506 UNIT 01
UNIT 1
INTRODUCTION TO FINANCIAL
ACCOUNTING
Introduction
Session 1 01-15
Accounting and its Purpose
Session 2 16-32
Basic of Accounting
Session 3 33-41
Double Entry System
Session 4 SL 42-60
Book Keeping and Accounting
Session 5 61-73
Financial Statement Formats
Session 6 74-82
Manufacturing Accounts
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Session 7 83-94
Accounting for Sole Proprietorship
Session 8 95-110
Accounting for Adjustments
Session 9 111-118
Accounting Errors and Suspense Account
Session 10 119-128
Bank Reconciliation
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Copyright © (2019), The Open University of Sri Lanka