Accounting

Course summary

The course involves the preparation of financial statements for statutory purposes, and management accounts in support of financial planning and management decisions. There will be both standard classroom and Computer Room lessons. The two papers sat at the end of this two-year linear course, broadly break down the course into these two areas. Both papers however require students to interpret and analyse financial information, in order to form reasoned arguments, reach reasonable conclusions and make recommendations. The course breaks down more specifically into the following topic areas: • An introduction to the role of the accountant in business • Types of business organisation • The double entry model • Verification of accounting records • Accounting concepts used in the preparation of accounting records • Preparation of financial statements of sole traders • Limited company accounts • Analysis and evaluation of financial information • Budgeting • Marginal costing • Standard costing and variance analysis • Absorption and activity based costing • Capital investment appraisal • Accounting for organisations with incomplete records • Partnership accounts • Accounting for limited companies • Interpretation, analysis and communication of accounting information • The impact of ethical considerations