Accounting Principles

Description

This is an introduction to accounting which aims to provide an understanding of how organisations – particularly small and medium sized businesses – capture, create and use accounting information both to guide their activities internally within the management function and to communicate their financial performance and position to external users of the accounts. This course allows students to develop practical and analytical skills through a problem-solving approach to accounting-related aspects of business performance reporting and control, particularly in relation to bookkeeping, accounts preparation, budgeting and management accounting. An introduction to accounting The need for performance measurement and accounting An introduction to business planning An overview of financial accounting Recording and classifying transactions: Double entry systems Analysing transactions: preparation of financial statements – trading and manufacturing Basic cash flow statements An overview of management accounting Understanding costs – behaviour, labour, materials and overheads An introduction to costing systems – absorption and marginal costing Short term decision making Budgeting