Module Overview

Financial Accounting

This aim of this introductory financial accounting module is to introduce students to accounting in respect of the recording of financial transactions, reporting these transactions in financial statements, and the analysis and interpretation thereof.

Module Code

FIN 2001

ECTS Credits


*Curricular information is subject to change

 Financial Information:

  • Purpose of financial accounting. The users of financial statements and their uses of that information. The characteristics of useful financial information. Recording of transactions in the double entry system. Mechanics of preparing financial statements. The significance of fundamental accounting concepts, bases and policies. The concept of realised profit and the distribution of profits. The various forms of business structure. The regulatory framework within which financial statements are prepared and used.

 Financial statements:

  • Preparation of financial statements and introduction to the terminology used in the primary financial statements.    The major features of the directors' report and the chairman's statement, and the significance of the information contained within them. The nature of accounting for groups of companies and the differences between group financial statements and those of a single company.

 Financial Analysis:

  • Preparation of relevant financial statistics and ratios to assess the financial performance and position of an organisation. Distinguishing between cash flow and profit.

The learning and teaching methods employed will include lectures, tutorials, discussions, problem-solving exercises, readings, self-directed learning and computer-based learning.

Module Content & Assessment
Assessment Breakdown %
Formal Examination70
Other Assessment(s)30