accounting and finance
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.
Other financial accounting issues: Liabilities. Equity. Internal control: bank reconciliations, control accounts and suspense accounts. Incomplete records. Partnership accounting. Cash flow statements.
Interpretation of financial accounts: Published financial statements and auditing. Interpretation of financial statements.
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.
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.
Randall, H and Hopkins, D (2015). Accounting (Cambridge: Cambridge University Press) ISBN: 9781107690622