There are many entrepreneurs who get into business without much technical preparation. They are usually quite knowledgeable and passionate about an idea, product, or service they would like to sell. While personal interests and expertise in the production and marketing aspects of the business is quite crucial, the success of an enterprise also depends on the efficient use of its resources, a comprehensive understanding of the firm’s current financial position, and a proactive decision making on one’s investments. This is where a basic understanding of accounting comes in. Just like a pilot needs a compass and other instruments to fly an airplane, a businessman must have a grasp of a good accounting system to enable him to know his financial situation or whether he is making a profit or not. They also need to know what is bought, what is sold, how much cash or property is owned, how much is owed to the business, and how much the business owes.

Course Description

This course on accounting will provide students with basic knowledge and skills in recording financial transactions as well as in preparing financial statements of a business enterprise. The course also provides information on tax requirements of a small business firm. These will help the entrepreneur make sound financial decisions in the day-to-day operations of the business.

Course Objectives

At the end of the course, students should be able to:

  1. Identify the importance of accounting and the nature and purpose of the information it provides in a business enterprise;
  2. Identify the different financial statements;
  3. Determine financial transactions and its proper classification;
  4. Identify the book of accounts that will be applicable for use in the business;
  5. Understand the accounting equation and how transactions affect the equation;
  6. Describe the accounting cycle; and
  7. Record and summarize financial transaction in the proper book of accounts, prepare trial balance and financial statements and close the books.

Course Delivery and Materials

The course is delivered online using a combination of:

  • Guided independent study using print-based modules and course guides; and
  • Computer mediated communication on UPOU’s learning management system (MyPortal).

Admission Requirements

Individuals interested in taking the course must have a high school diploma, and proficiency in mathematics and reading and writing in English.

Course Content

The course is divided into four (4) units with 7 modules. Each module is provided with course materials which may include reading materials and multimedia lecture/presentation.

Unit I. Introduction to Accounting Process
Module 1: Accounting Overview

Module 2: The Financial Statements and Classification of Accounts

Unit II. Basic Accounting Process
Module 3: The Accounting Equation

Module 4: Using Debit and Credit in Recording Business Transactions

Module 5a: Journal Entries

Module 5b: Adjustment process

Module 5c: Financial Statements Preparation

Module 5d: Closing Process

Unit III. Cash Flow Analysis
Module 6: Cash Flow Analysis
Unit IV. Basic Taxation*
Module 7: Basic Taxation for Small Enterprises

*Course materials for the Basic Taxation module will be uploaded in the MyPortal Course Site. This is to make it more up-to-date with the latest BIR rules and regulations.

Enrollment

Interested participants may register online using the Online Sign-up form, or visit the Faculty of Management and Development Studies, UPOU HQ, Los Baños, Laguna. Details of course offering will be emailed a month before the start of class. (This includes the admission form with the assessment of fees and payment procedures.)

Schedule of Course Offerings

For inquiries, please email FMDS at fmds-cep@upou.edu.ph or call us at (049) 536-6010.