Electronics is the study of conduction current in solids, gases, vacuum and liquids. It is a branch of engineering that comes from the 2 words Electrons - negatively charged particle in an atom, Mechanics - Study of motion of an electron. Electronics is also study of electrons and how they can be used to perform different functions. The ability to control movement of electrons or electron flow is the basic of electronics it specializes in digital computers, audio systems, communication systems, and automatic control.

Introduce students to financial accounting for processing and communicating of financial information to support economic decision making. This particularly focuses on procedures of book keeping and preparation of the financial statements for a simple business.

The trial balance produced from the accounts appears to be correct, i.e the debits are the same as the credits. However, on taking a close check on the balances and transactions posted, errors may have been made and therefore the balances shown on the trial balance may be incorrect i.e. under or over stated.

Accounting is defined as a process of Recording Classifying Summarizing Interpreting the financial transactions and Communicating the result thereof to the persons interested in such information for decision making purposes

Accounting may be defined as the process of collecting, recording, summarizing and communicating financial information. Accounting is nothing but a means of communicating the results of business operations to varies parties interested in or connected with the business, viz., the owner, creditors, investors, government, financial institutions and other agencies. Accounting is, therefore, rightly called as the language of business. The basis purpose of a language is to serve as a means of communication. Accounting also serve this purpose. Accounting is not only associated with business but also with every body who is interested in keeping an account for the money received and money spent.

Purchases Ledger Control Account is a summary account which checks the arithmetical accuracy of the Purchases Ledger. It enables us to see at a glance whether the general ledger balance for the purchase’s ledger agrees with the total of all the individual trade payable accounts held within the purchase’s ledger.

Control accounts are so called because they control a section of the ledgers. By control we mean that the total on the control accounts should be the same as the totals on the ledger accounts. There are two main types of control accounts:

HBC 2101 Introduction to Accounting I - ACCOUNTING FOR TRANSACTIONS

The cashbook for cash at bank records all the transactions taking place at the bank i.e. the movements of the account held with the bank. The bank will send information relating to this account using a bank statement for the firm to compare. Ideally, the records as per the bank and the cashbook should be the same and therefore the balance carried down in the cashbook should be the same as the balance carried down by the bank in the bank statement.

Qualities of Useful Financial Information. The four principal qualities of useful financial information are understandability, relevance, reliability and comparability.