This module aims at helping the learner with understanding of standards, principles and procedures used financial reporting and accounting of assets and liabilities. The module shapes the learner with adequate accounting skills necessary for accounting for contingents and provisions related to assets and liabilities. Further, after completing this module, the learner will be in position to account for financial assets, their issues and disposals.  The learner will be able to appreciate the recognition and measurement of long-term investment and interpret accounting information.