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 have significant impacts on the business, the wider economy and society.
Students will develop the ability to classify and organise financial data so that they can methodically analyse 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 organisation 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 organisation 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 purpose and benefits and limitations of these techniques.