SHEB301 Introduction to Accounting


In the business context, accounting may be viewed as an information system that measures, processes and communicates information, primarily financial in nature, about a business entity for the purpose of making business decisions. The aims of this course are to introduce the students to the role of accounting and how accounting captures the financial information of a business entity. Students will develop basic knowledge of the accounting process and its key concepts. Also, the students will be required to prepare the four financial reports and apply basic financial ratio analysis to evaluate the company performance and financial position. The focus of the course involves the understanding of how accounting provides information that is useful to external users. It will cover the basic steps in the accounting process from recording the business transactions to the other intermediate steps such as preparing adjusting entries and closing entries and lastly the preparation of the financial reports. The course will also examine transactions, concepts and issues which are particular to merchandising businesses.

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Business Studies (Joint programme with The University of Sheffield)


Violeta Sfouri
Assoc. prof. Stanislava Georgieva, PhD
Milena Malinovska

Course Description:


By the end of the module, a student will be able to:

- Demonstrate a good understanding and be able to use and apply the basic

accounting concepts and principles

- To use the fundamental accounting equation to analyse the effect of business

transactions on the financial position

- Record transactions appropriately applying the rules of the double-entry bookkeeping

system and completing the other steps of the process at a basic level

- Demonstrate an understanding of the fundamentals of the structure and content of

the financial reports

- Demonstrate a good understanding of the accounting and business related issues of

merchandising operations

- Demonstrate a sound grasp of the objectives of profitability and liquidity and what this

entails from a business and accounting perspective

- Be able to apply basic ratio analysis to evaluate financial performance

Full-time Programmes

Types of Courses:

Language of teaching:


  1. Analysing and Recording Accounting Transactions
  2. Adjusting the Accounts
  3. Completing the Accounting Cycle
  4. Accounting for Merchandising Operations
  5. The Financial Statements and Performance Evaluation
  6. Revision


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2. Weygandt, J., Kimmerl P. D. and Kieso, D. (2015) Accounting Principles. 12th International student ed. John Wiley & Sons

3. Needles, B., Powers, M. and Crosson, S. (2014) Principles of Accounting. 12th edition International, South-Western Cengage Learning.

4. Meigs, R. and Meigs, W. (1999) Accounting: The Basis for Business Decision, 11th edition, McGraw Hill

Larson, K. Wild J. and Chiappetta, B. (2005) Fundamental Accounting Principles. McGraw Hill.

5. McLaney, E. (2011), Business Finance: Theory and Practice.9th Eds. Prentice Hal

6. Jones, M. (2006). Management Accounting. John Wiley and Sons Ltd

7. Block, S. B., Hirt, G. A., & Danielsen, B. R. (2015). Foundations of Financial Management. 10th eds. McGraw-Hill Education.

8. Keown, A. J., Martin, J. D., & Petty, W. J. (2016). Foundations of Finance, Global Edition (9th ed.). Pearson.

9. Atrill, P. & McLaney, E. (2008) Financial Accounting for Decision Makers. 5th ed. Prentice Hall

10. Benedict, A. & Elliott, B. (2008) Financial Accounting. An Introduction. Prentice Hall

11. Harrison, W. & Horngren, C. (2008) Financial Accounting. 7th ed. Prentice Hall