The nature, development and purpose of accounting and finance, its importance to managers and administrators. Accounting concepts. Conventional means of collecting and summarizing basic data. Types of accounts – final Accounts and Balance Sheet – Concept of depreciation, provisions of bad debt and reserves, account and prepayment. Types of business: Memorandum and Articles of Association – private and parastatals. Profit and non-profit organizations. Accounting tools for planning. Control and decision-making. Capital budgeting – their usefulness. Board of Governors composition and role. Understanding of annual and financial reports.