This course will focus on accounting as a financial information system. The course will develop skills in the recording and reporting of financial information for businesses operating as a sole proprietor in both a trading and service setting. The recording and reporting will adopt the double entry approach and will comply with the International Accounting Standards Board (IASB) Conceptual Framework that provides six main qualitative characteristics that financial information should have in general purpose financial reports. In addition, the financial information system will adopt the four main assumptions of accounting recording and reporting.