The aim of the course is to provide students with an understanding of the role of Financial Accounting in the context of business. This course shows:
(1) "how accountants attempt to keep score", that is, report on the success of the business in terms of profitability ("the Profit and Loss Account"):
(2) how to create a statement of assets and claims at a particular point in time ("the Balance Sheet"):
(3) how the business has spent the money it has collected ("the Cash Flow Statement").
The module also aims to enable students to interpret financial statements in order to properly understand the financial position of a business and recognise the limits of the understanding they deliver.
After taking this module, students should be able to:
(1). Explain and analyse the role of financial accounting information in managing a business.
(2). Define and apply accounting concepts that are used in preparing financial statements ("the Profit and Loss Account", "the Balance Sheet" and "the Cash Flow Statement")
(3). Prepare, interpret and analyse such statements, and be aware of their limitations.
(4). Demonstrate understanding of the fundamental concepts of financial accounting and the relationship between financial accounting and business activities.
- Lecturer: Xiaoyue Chen
- Lecturer: Nishi Moonesinghe
- Lecturer: Cathrine Weerakkody