This is an introductory module in accounting and is designed to provide students who have not studied accounting before with a solid foundation in the fundamental principles of accounting. The aim of the module is to develop the knowledge and skills of learners to understand the framework for and role of accounting, to record accounting information and to prepare financial statements.
The nature, purpose and regulation of financial reporting information
Introduction to accounting for sustainability
Double entry book-keeping (including accruals, prepayments, irrecoverable debts, discounts, depreciation, VAT and correction of errors)
Daybooks and ledgers
Preparation of financial statements of sole-traders and manufacturers
Bank reconciliations
Control account reconciliations
Conceptual Framework for Financial Reporting
Accounting standards: IAS 1 (accounting policies and underlying assumptions) and IAS 2
Topics may be initially introduced by means of traditional lectures. Students’ capacity to apply concepts will be developed through problem solving. Students will receive formative feedback on an ongoing basis throughout the module by having opportunities to mark their own solutions to pre-assigned problems against solutions presented by the lecturer.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 80 |
| Other Assessment(s) | 20 |