Accounting and Finance

Introduction to Financial Accounting

Module code: N1526
Level 4
15 credits in spring semester
Teaching method: Lecture, Seminar
Assessment modes: Computer based exam, Coursework

Financial accounting is used by all large organisations to communicate information in financial statements to external stakeholders for the purposes of control and accountability.

The aim of this module is to equip you with an initial understanding of the fundamental principles and techniques of financial accounting. The module also lays the foundations for a spirit of inquiry about the merits of alternative methods of preparing and communicating financial information to different stakeholders in a range of organisation forms.

Module learning outcomes

• Demonstrate knowledge and understanding of the mechanisms of accounting systems which record and control accounting transactions and generate financial statements
• Explain the conceptual and regulatory framework of financial accounting.
• Apply double entry techniques to record transactions and prepare financial statements for a range of accounting entities
• Interpret financial statements and understand and explain the differences between cash flow and income and relate these to user needs.