Authorised by Academic Registrar, April 1996
Objectives On completion of this course students should be able to explain the uses and limitations of accounting data; understand the definitions and recognition criteria for the elements of financial statements and be able to apply these to differing situations; develop skills in recording and reporting financial information and develop an analytical approach to problem solving and be able to analyse and interpret accounting information to assist in making decisions.
Synopsis This is an introductory subject in accounting and assumes no previous knowledge of the area. The subject includes the following topics:the conceptual framework; an introduction to the balance sheet and profit and loss statement; an accounting information systems approach to the double-entry recording process - transaction analysis, journals, ledgers; periodic profit measurement including balance day adjustments; depreciation; inventory; cash flow statements; characteristics of various reporting entities (including partnerships and companies) and the accounting and reporting requirements for each type of entity; analysis and interpretation of financial statements.
Assessment Written: 40% + Examination: 60%