This is a basic introductory course that assumes no prior knowledge of bookkeeping and/or financial accounting. The course is designed to help students acquire a sound basic competence in bookkeeping, the construction of simple financial statements, the interpretation of financial statements and to develop a basic theoretical and analytical grasp of financial accounting. Emphasis will be placed on the reasons behind financial accounting procedures, rather than simply the mechanics of transactions.
The general aim of this course is to provide students with an introduction to Cost and Management Accounting. The course is taught in the context of principles and theories relevant to the study of cost and management accounting systems, where the teaching of computational skills is aimed at relating accounting techniques to these theoretical frameworks. The course is set within an organisational theory approach to management accounting and specifically identifies the need to utilise different financial and non‑financial data for different management purposes. The course also aims to provide students with skills that will be used in the working environment such as gathering, organising and interpreting information and working with others. This will be achieved in various ways including participation in tutorials workshops and the use of CAL materials. Accordingly, absence at tutorials will be viewed as a serious matter, and could lead to the Course Coordinator forbidding entry to the examination.
This module introduces a core of basic ideas which are more fully developed in other BAcc finance courses, some of which are optional for accountancy students: Finance 2, Capital Markets Theory, International Financial Management, and Financial Markets and Institutions. Normally, only students who have completed Finance 1 and Finance 2, or their equivalent, will be admitted to other BAcc finance options. The module focuses on identifying the financial objective of the firm and on understanding how the principal financial decisions should be made in order to achieve the objective. Coverage will include corporate financing and investment decisions, the operation of capital markets and an introduction to the concept of risk and return.