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accounting and finance

Topics covered

 

Introducing financial reporting: What is accounting? Forms of business organisation, concepts. Income statements and statements of financial position.

Preparation of financial accounts: Double-entry bookkeeping: accounting for business transactions. Adjustments: accruals, prepayments, bad debts and provisions. Adjustments: depreciation, disposal of non-current assets, revaluation. Inventory and cost of goods sold.

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Other financial accounting issues: Liabilities. Equity. Internal control: bank reconciliations, control accounts and suspense accounts. Incomplete records. Partnership accounting. Cash flow statements.

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Interpretation of financial accounts: Published financial statements and auditing. Interpretation of financial statements.

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Management accounting and finance: Management accounting introduction: the meaning of ‘cost’. Contribution, break-even analysis and limiting factors. Absorption costing. Budgeting and cash flow forecasting. Standard costing and variances. Capital investment appraisal.

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Learning outcomes

 

If you complete the course successfully, you should be able to:

  • Identify and explain the key purposes and concepts of accounting and finance

  • Use established techniques, produce financial information which will enable users of the information to make informed economic choices

  • Interpret these financial statements while appreciating the inadequacies of these models.

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Essential reading

 

  • Randall, H and Hopkins, D (2015). Accounting (Cambridge: Cambridge University Press) ISBN: 9781107690622

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postal address:

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Director for the IFP Cyprus

foundation@americanacademy.ac.cy

Tel:  70 000 727

Tel: (+357) 99565186


American Academy School
P.O. Box: 51867

3509 Limassol
Cyprus

© 2022 IFP Cyprus >>ACCENTUATE

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