This week in class

• Done all the Principles of accounting.
• Meaning and importance of IFRS was also discussed.
• Methods of Cash basis of Accounting and Accrual basis of Accounting was made clear to the students.
• Introduction to Accounting Equation was given to the students.

This week in class

• Done basic accounting terminology.
• Basic terms such as Assets ,Liabilities,Capital,Debtors, Creditors,Revenue Profit,Gain,Expense,expenditure,Stock ,Purchase,Sales etc. was made clear to the students with the help of relevant e.g. from daily life.
• Basic Accounting Assumption was also discussed.

This week in class and announcements

• Introduction of Accountancy as a subject was given to the students.
• First chapter Introduction to Accounting was done in the class.
• Complete your register and submit it for checking on Tuesday.