AD21: Financial Accounting

AD21: Financial Accounting is a Foundation Level paper in the KASNEB Accounting Technician Diploma (ATD) qualification. It equips learners with the fundamental knowledge and practical skills required to record, classify, summarize, and report financial transactions in accordance with accepted accounting principles and applicable financial reporting standards. The course lays the foundation for preparing accurate financial statements and supporting informed business decision-making.

Key Topics Covered

• Introduction to Financial Accounting
• Accounting Concepts and Principles
• Double Entry Bookkeeping
• Books of Original Entry
• Ledger Accounts
• Trial Balance
• Accounting for Cash and Bank Transactions
• Accounting for Inventories
• Accounting for Non-Current Assets and Depreciation
• Accounting for Receivables and Payables
• Correction of Errors and Suspense Accounts
• Bank Reconciliation Statements
• Control Accounts
• Financial Statements for Sole Proprietorships
• Incomplete Records
• Accounting for Partnerships
• Introduction to Company Accounts
• Ethical Issues in Financial Accounting