Important Topics For MGT101 For Final Term :


Accounting Equation:

 This is the fundamental equation of accounting, which states that assets equal liabilities plus equity.

Debit and Credit:

 These are the two sides of an accounting entry, which represent increases and decreases in assets, liabilities, and equity.

Accounting Cycles:

This is the process of recording, classifying, summarizing, and interpreting financial information.

Financial Statements:

These are the documents that summarize the financial information of a business, including the balance sheet, income statement, and statement of cash flows.

Fundamental Accounting Principles:

These are the basic concepts that underlie accounting, such as the accrual basis of accounting and the going concern assumption.


In addition to these core topics, students should also be familiar with the following topics:


Auditing:

This is the process of examining financial statements to ensure that they are accurate and reliable.

Taxation:

This is the study of the laws that govern the taxation of individuals and businesses.

Financial Management:

This is the process of managing a business's finances, such as raising capital, investing funds, and managing right.