Lecture Notes On Financial Accounting

5 ACC 419 FINANCIAL ACCOUNTING 1.0 INTRODUCTION ACC 419 is a 400 level first semester course. It introduces you to accounting and reporting concepts, analysis and interpretation as well as guide to presentation of financial statements of different organisations. 2.0 WHAT YOU WILL LEARN IN THIS COURSE This course guide tells you briefly what to expect from reading this course. The study of financial accounting is to familiarize you with this subject matter which is dealt with herein and of which are expected to know much about after reading through 3.0 COURSE AIMS The aim of the course is to help the learner become reasonably well-informed about financial accounting. It will also enable you to have the knowledge and skill of analysing, presenting and reporting financial statements in different organisations. 4.0 COURSE OBJECTIVES The major objectives of this course, as designed, are to enable the students to know all the relevant enactments and legislations in relation to financial accounting in Nigeria and all over the world. As well, students should be able to: Discuss the role of International Accounting Standards Board in providing the framework for the preparation of financial statements; State the objectives and elements of financial statements; Trace