Business and management studies

Introduction to Financial Accounting

Module code: N1526
Level 4
15 credits in spring teaching
Teaching method: Lecture, Seminar
Assessment modes: Unseen examination, Coursework

Accounting is the 'language for all business', which translates information about organisations to users for the purposes of control, financial performance assessment and valuation.

This module is designed to teach you how to understand this language and be able to communicate in it. It will equip you with an understanding of the major accounting concepts, the necessary skills, knowledge and insights to understand how and why financial statements are created and how they have developed.

You will be exposed to how financial transactions and events are recorded, and will learn how to compile rudimentary financial statements for various business entities.

Module learning outcomes

  • Explain the context and purpose of financial reporting.
  • Define the qualitative characteristics of financial information.
  • Record transactions and events and demonstrate the use of double entry and accounting systems.
  • Prepare a trial balance and prepare and interpret basic financial statements for unincorporated and incorporated entities.