Financial Accounting & Reporting with SAP

This course provides a reinforcement of basic accounting, within the context of business and business decisions. Accounting transforms business transactions into intelligible information needed by various stakeholders in making decisions. While most business transactions are complex, learners must first develop a thorough understanding of the basic accounting principles that underpin these complex transactions. Learners must also know the different accounting procedures and unique features applied to sole proprietorships, partnerships and corporations. This course equips the learners with a thorough review of accounting: analysis of business transactions, accounting equation, journalizing, posting, generation of trial balance, adjusting entries, financial statements and accounting for the formation and operation of a partnership and a corporation. Through case problems, learners are expected to complete the accounting cycle and prepare financial statements of a service entity, merchandising entity, and manufacturing entity operating as a single proprietorship, partnership and corporation.
Exposure through the use of practice sets, either manual or computerized system (MS Excel, SAP) in recording and reporting transactions for service or trading firm is a requirement in this course. Toward the end of the course covering financial statements for corporation, there must be an introduction to regulatory reporting in the Philippines for Corporations which will be discussed in detail at Regulatory Framework and Legal Issues in Business.