Financial Accounting I

Subject Code:


Subject Aim:

This subject aims to provide students with the knowledge and skills to understand the principles of financial accounting and how it relates to the internal and external decision making of various stakeholders. This subject is designed specifically to provide the student with an understanding of the role that accounting plays in various aspects of financial decision-making. The student will learn how to summarise and present information within financial statements to aid the decision making of stakeholders.

Learning Outcomes:

  1. Demonstrate an understanding of the elements comprising financial statements.
  2. Interpret financial figures and information.
  3. Prepare and present the three key financial statements; Income statement, Balance Sheet and Cash Flow statement.
  4. Prepare a set of financial statements including a balance sheet, income statement and cash flow statement.
  5. Analyse and evaluate the financial reports using ratios as a decision making tool.
  6. Use accounting software to record business transactions and produce financial reports.

Student Assessment:

Exams will take place in weeks 12 & 13. Please refer to the official Exam Timetable for further information.

The purpose of the assessment tasks is to demonstrate that the student has met the learning objectives as set out above. Informal questioning will be used frequently during lectures and tutorials to provide feedback to students on their current level of learning and to highlight areas for development. A final exam will assess the students overall assimilation of subject concepts. Assignment briefs will be available in class as indicated and then on Moodle.