Accounting / Finance

Course summary

This is a thought-provoking and challenging course. It will provide you with valuable insight into how a business records its financial transactions and how this information can be used to understand its performance and efficiency. If you enjoy working with numbers and solving problems, Accounting could be for you. You will develop a thorough knowledge of all aspects of financial and management accounting, as well as broadening your understanding of the financial sector. In Year One you will study: The role of the accountant in business – Types of business organisations and sources of finance – The double entry system of recording financial transactions – Verification of accounting records, including preparing and correcting the trial balance, bank reconciliation statements and ledger control accounts – Application of accounting concepts and calculation of accounting adjustments including depreciation, irrecoverable debts and accruals and prepayments – Preparing financial statements for sole traders and companies – Analysis and evaluation of financial information – Budgeted financial statements – Marginal costing, break-even and decision making situations – In Year Two you will study: – Problem-solving skills such as coping with incomplete records – Preparing more complex financial statements for companies, including the schedule of noncurrent sets and statement of cash flows – Preparing partnership accounts – More complex analysis and evaluation of financial information with communication to relevant stakeholders Further aspects of budgeting to include cash, sales, production, purchases and labour budgets – Absorption and activity-based costing – Standard costing and variance analysis – Capital investment appraisal techniques such as payback period and net present value