ACC1006F
- Financial Accounting
Introduction
Course Description
The standard of Financial Accounting has been set to the level required
for those intending to become Chartered Accountants and it is, therefore, a
demanding course. Upon completion of Financial Accounting, students may
continue with Financial Reporting 1 (ACC1011S) or Business Accounting
(ACC1012S).
Financial Accounting is predominantly an applied discipline that is based on
broad conceptual principles. Students will be expected to apply these principles
with a high level of technical competence. Furthermore, as numerous issues in
financial accounting remain unresolved, students will be encouraged and expected
to debate such issues.
Aims of the Course
At the end of the course students should have developed the necessary
skills to:
- Understand the business cycle and various decisions taken in a business;
- Record financial transactions in accounting records;
- Interpret financial transactions through the understanding and use of
the definitions and recognition criteria as set out in accounting framework;
- Prepare financial statements;
- Relate underlying accounting assumptions and concepts to current
practice.
| 
