Introduction to Accounting

Learning Outcomes

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• Explain the basic concept of accounting process and theories.
• Provide useful information to decision maker.
• Prepare financial statement for trial balance.
• Describe the role and limitation of financial reporting.
• Analyse financial statement and explain the limitation of techniques used for analysis.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Problem solving skills relating to financial accounting issues
• Technical skills for data analysis

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• To apply these concepts in preparing accounting statement of the organisations.
• To analyse financial statements for decision-maker.
• To describe the key accounting concepts.

Topic 1: Basic concepts of Accounting

• Provide and explain the definition of accounting, accountability, Qualitative characteristics of accounting information.

Topic 2: Organisations and their reporting boundaries

• Explain the concept of reporting boundaries, difference between ‘for profit’ and ‘not-for-profit’ organisations, descriptions of a sole trader, partnership and company.

Topic 3: Accounting and its role in managerial decision making

• Demonstrate the role of management accounting, value creation, management accounting and financial accounting cost behaviour.

Topic 4: Recording transactions in journals and ledgers

• Explain the process and procedures of recording transaction in journals and ledgers.

Topic 5: Performance measurement and evaluation 1

• Explain accounting techniques and tools to measure performance.

Topic 6: Performance measurement and evaluation 2

• Demonstrate capital investment decisions.

Topic 7: An introduction to financial accounting

• Explain the accountability model, objective of financial reporting, generally accepted accounting principles, qualitative characteristics, and elements of financial accounting.

Topic 8: Analyse financial statement 1

• Explain income statement, when, and how, income and expenses should be recognised.

Topic 9: Analyse financial statement 2

• Explain the cash flow and balance sheet.

Teaching and learning activities include:

• Lectures and Seminars: these activities are the core of this taught programme. Lectures are teacher-led and will provide you with the knowledge and support you need to underpin your undergraduate degree programme. In classes for the subject specific modules you will develop yourunderstanding of the concepts and approaches used in the teaching of the discipline you will study in more depth in your undergraduate programme.
• Independent study: you will be expected to spend a significant amount of time working independently on a range of tasks including preparatory tasks for classes, carrying out personal research and completing assignments.

Summative

This is how we’ll formally assess what you have learned in this module.