Financial Accounting and Management

This course introduces students to the meaning, importance and types of farm records, valuation and depreciation of farm assets, enterprise budgeting. It also provides learners with the meaning and branches of accounting, importance of financial records in agribusiness, users of accounting information, fundamental principles and procedures in accounting, accounting bases, policies and standards, accounting equation, financial records and book-keeping, trial balance, errors, suspense and control accounts, preparation and adjustment of final accounts, bank reconciliation, financial statements, financial analysis, interpretation and reporting, decision-making and control in business management, use of computers in accounting and the effects of technology and globalization on accounting procedures.

Course Objectives

• To introduce the learners to the basic concepts of farm records and financial accounting.
• To explain the importance of financial records in agribusiness management.
• To provide the techniques of preparing, analyzing and presenting financial statements.
• To effectively use accounting information to facilitate farm planning and decision making

Learning Outcomes 
At the end of this course the students should be able to:

• Understand and explain the basic financial accounting terminologies and concepts.
• Identify and describe the various kinds of farm records, and accounting books generated and maintained by organizations.
• Record business transactions and maintain up to date books of accounts.
• Prepare, analyze and interpret financial statements.
• Use accounting information for planning purposes and decision making.