Module
Synopsis
The
module is aimed at developing a student’s understanding in the nature and
purpose of accounting, the role of accounting information in decisions-making
by external user (shareholders, bankers and the like), and basic accounting
concepts. Specifically, it explores
topics like accounting reports (e.g. balance sheet and income statement),
double-entry recording, trial balances, balance day adjustments, depreciation
methods, cost-benefit analysis and financial ratio analysis.
Module Teaching
Objectives
The teaching objectives of
the module are:
1. To understand the main
theories and concepts of accounting.
2. To understand and apply
the methods involved in bookkeeping, preparing accounting reports (e.g.
statement of income, statement of financial position) and making business
decisions.
3. To understand and apply
the methods of analysing a business’ performance.
Module Learning
Outcomes
Upon successful
completion of the module, students will be able to:
1. Identify and explain the key accounting
principles/concepts used by accountants and businesspeople.
2.
Identify, explain and compare the different types of business ownership (e.g.
sole trader, partnership, company).
3. Identify and record business/financial
transactions in the ledger accounts and summarise those recorded information at
the end of an accounting period.
4. Construct accounting reports
(e.g. income statement, balance sheet, etc.) by using to the information in the
ledger accounts.
5. Assess the performance of a
business (in terms of profitability and financial stability) by applying financial
ratio analysis.
6. Make
appropriate business decisions with reference to various accounting information
and tools.
