Accounting / Finance

Course summary

This course helps students to understand the responsibilities of an accountant. It will help them to appreciate that accountants form recommendations, based upon financial evidence which has significant impacts on the business, the wider economy, and society. Students will develop the ability to classify and organize financial data so that they can methodically analyze that data, solve problems logically and make reasoned choices. They will learn to justify and communicate their reasoned choices effectively. The course covers the full range of Financial Accounting and Cost and Management Accounting: Financial Accounting is concerned with the classification and organization of financial information and how it is presented in its final form such as Income Statements, Balance Sheets and Cash flow statements. Emphasis is placed on different kinds of business organizations such as sole traders, limited companies, and partnerships in order to be able to evaluate their performance. Cost and Management Accounting is concerned with using financial information in the decision-making process. The topics studies include Budgeting, Marginal, Absorption and Activity Based Costing, Standard Costing and Variance Analysis, and Investment Appraisal. Emphasis is placed on the purpose benefits and limitations of these techniques. The focus of both parts of the course is problem-solving. Students will spend a considerable amount of time applying accounting techniques to particular problems. Students are set to regular independent study assignments and tests to check their understanding of the work completed in class. The course will develop key skills such as numeracy and communication. Extra support is available when needed.