ACC1006X
- Financial Accounting
Course Introduction
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.
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.
ACC1006X forms part of the Academic Development Programme (ADP) which is
housed in the Education Development Unit (EDU). Being registered as an ADP
student is a prerequisite for this course. Students that form part of ADP
come from different cultural, economic and schooling backgrounds creating a
unique opportunity to not only learn financial accounting but also to learn
about one another and contribute to positive change in the university
community, greater society and the country.
Learning takes place in an environment where small lecture classes are key
to lecturers being able to get to know students individually and where
learning can be structured in such a way as to meet individual learner
needs. In a small lecture group, lecturers are able to experiment and share
creative methods of teaching enhancing the learning that takes place in the
lecture periods. Where necessary, extra support is given to students in the
form of interactive workshops. Support workshops to enhance life skills of
students are also run through CADP at different times in the academic year.
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 use of the accounting
equation and the definitions and recognition criteria set out in AC000
- prepare financial statements
- relate underlying accounting assumptions and concepts to current
practice
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