We are glad to present this Study Text to candidates and lecturers of ATD Level 1.

This book is designed to serve as a Study Text for lecturers and candidates appearing in ATD Level 1Introduction to Financial Accounting.

This edition has been prepared on the basis of the revised syllabus that was carried out by KASNEB in 2015. The Study Text guarantees appropriate depth and breadth of content and comprehensive coverage of the revised syllabus.

The general objective ofIntroduction to Financial Accounting is to enable the candidate apply the principles of book keeping in the preparation of basic financial statements. A candidate who passes this paper should be able to apply accounting concepts in preparation of financial statements, apply the double entry aspects of accounting, account for assets and liabilities and prepare financial statements of a sole trader, partnership and company 

Candidates are here reminded that ATD examinations are rigorous and standards are high because the examination is benchmarked on the International Standards promulgated by the International Accounting Education Standards Board (IAESB). Candidates are thus advised to read this Study Text together with our ATD Level 1Introduction to Financial AccountingRevision Partner so as to have adequate background knowledge related to topics covered under the revised syllabus