Topic Outline for Fundamentals of Accountancy, Business and Management (FABM) 1:

I. Accounting as an Information System (2-7; 6)

A. Introduction
B. Business Entity Concept
C. Purpose of Financial Statements
D. Users of Financial Statements

II. Branches of Accounting (14-20; 7)

A. The Accounting Profession
B. Scope of the Practice of Accountancy
C. Expanded Services of Accountants
D. Benefits from Accounting Services
E. Ethics of Professional Accountants
F. Fundamental Principles to be Observed
G. Career Choices

III. Forms of Business Organizations and Types of Businesses (26-36; 11)

A. Forms of Business Organizations
B. Types of Businesses

IV. Basic Accounting Concepts and Principle (42-53; 12)

A. The International Accounting Standards Board
B. Elements of Financial Statements
C. Qualitative Characteristics of Information in Financial Statements
D. Constraints on Relevant and Reliable Information
E. Underlying Assumptions
F. Balance Sheet Accounts
G. Noncurrent Liability
H. Income Statement Accounts
I. The Accounting Equation

V. Book of Accounts (59-66; 8)

A. General Journal
B. General Ledger
C. Special Journals
D. Subsidiary Ledgers

VI. Analysis of Business Transactions (71-85; 15)

A. Illustrative Business Transactions
B. Business Documents
C. Rules of Debits and Credits
 D. Trial Balance

VII. Accounting Cycle for a Service Business (90-111; 22)

A. Steps in the Accounting Cycle
B. Journalizing Business Transactions
C. Posting in General Ledgers
D. Adjustments
E. Preparation of the Trial Balance

VIII. Completing the Accounting Cycle for Service Business (118-125; 8)

A. Preparation of the Worksheet
B. Income Statement and Balance Sheet
C. Closing of the General Ledger Accounts
D. Post-Closing Trial Balance
E. Reversing Entries

IX. Accounting Cycle for Merchandising Business (138-156; 19)

A. Accounting for Sales and Accounts Receivable
B. Accounting for Purchases and Accounts Payable
C. Merchandise Inventory
D. Cost of Goods Sold
E. Worksheet
F. Income Statement or Balance Sheet
G. Closing Entries and Post-Closing Trial Balance

X. Special Journals and Subsidiary Ledgers (162-175; 14)

A. Special Journals
B. Accounts Receivable Subsidiary Ledgers
C. Accounts Payable Subsidiary Ledgers