ACC1006S - Financial Accounting

Introduction

Course Description Financial Accounting - Second Semester

The standard of Financial Accounting has been set to the level required for those intending to become Chartered Accountants and it is, therefore, an extremely demanding course. Upon completion of Financial Accounting students may continue with Financial Reporting 1 or Business Accounting in the second semester. 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:

• record financial transactions in accounting records;
• prepare financial statements;
• relate underlying accounting assumptions and concepts to current practice.

Lectures

Lectures will be given on Tuesdays, Wednesdays, Thursdays and Fridays in the Maths 320 lecture theatre in 6th period.