The aim of this foundation level module in accounting and reporting, which presumes no prior knowledge of accounting, is to facilitate an understanding of the underlying principles of financial accounting and reporting within a business environment, and to enable students to prepare and analyse financial reports and plans.
The Nature and Role of Financial Accounting and Reporting for a Business Entity within a regulated environment
Double Entry Book-keeping and Accounting Systems for a Business Entity
- Accounting for Assets and Liabilities and the Accounting Equation
- Accounting for Income and Expenditure
- Balancing ledger accounts and the Trial Balance
The Need for Period End Adjustments when Presenting Financial Statements of a Business Entity
- The need for period end adjustments
- Estimating and Reporting Depreciation of Fixed Assets
- The need for Provisions
- Accruals and Prepayments
Financial Statements of a Business Entity
- The Statement of Profit or Loss
- The Statement of Financial Position
- The Statement of Cash Flow
Analysis and Interpretation of Financial Statements of a business Entity
- Uses and limitations of accounting ratios
- Calculation of accounting ratios
- Evaluating the financial performance of a business entity
Planning and the Projection of the Financial Performance of a Business Entity
- The importance of financial planning in the context of cash management
- The Cash Budget
- Projected Financial Statements
Double Entry Book-keeping and Accounting Systems for a Business Entity
Double Entry Book-keeping and Accounting Systems for a Business EntityAccounting for Assets and Liabilities and the Accounting EquationAccounting for Income and ExpenditureBalancing ledger accounts and the Trial BalanceThe Need for Period End Adjustments when Presenting Financial Statements of a Business EntityThe need for period end adjustmentsEstimating and Reporting Depreciation of Fixed AssetsThe need for ProvisionsAccruals and Prepayments
Producing Financial Statements of a Business Entity
The Nature and Role of Financial Accounting and Reporting for a Business Entity within a regulated environmentFinancial Statements of a Business EntityThe Statement of Profit or LossThe Statement of Financial PositionThe Statement of Cash Flow
Planning and the Projection of the Financial Performance of a Business Entity
Planning and the Projection of the Financial Performance of a Business EntityThe importance of financial planning in the context of cash managementThe Cash Budget Projected Financial Statements
Analysis and Interpretation of Financial Statements of a business Entity
Analysis and Interpretation of Financial Statements of a business EntityUses and limitations of accounting ratiosCalculation of accounting ratiosEvaluating the financial performance of a business entity
The module will be delivered through a combination of lectures and tutorials. Students will be encouraged to participate in problem solving exercises, class discussion and self-directed learning. Lectures and tutorials will be supplemented with notes and practice questions.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 60 |
| Other Assessment(s) | 40 |