This course provides an overview of financial statements and auditing, covering topics such as the purpose of financial statements, the different types of financial statements, the auditing process, and the roles and responsibilities of auditors.

After the successful completion of the course, you will be able to learn about the following;

• Understand the accounting concept, including its definition and its role in business.
• Identify the historical events and developments that have shaped financial accounting practices.
• Define financial statements and describe their purpose in financial reporting.
• Differentiate between the different types of financial statements, including balance sheets, income statements, cash flow statements, statements of changes in net assets, and notes to the financial statements.
• Explain the concept of auditing and its importance in ensuring the accuracy and reliability of financial statements.
• Trace the evolution of auditing systems over time and describe the key developments that have shaped modern auditing practices.
• Identify the different types of audits, including external, internal, and government audits.
• Describe the four phases of an audit cycle and the activities during each phase.
• Define the role of an auditor and identify the key skills and functions required to be an effective auditor.