There are no pre-requisites for this module to be added

The module covers the key areas that will be of relevance to a non-accounting student who is seeking to gain an understanding of the importance of accounting information in a business and of its application. Those main areas includes aspects such as the objectives of financial reporting and how financial accounting, which underpins financial reporting, differs from management accounting. One of the main focuses of the module is the preparation of the primary financial statements of the income statement and balance sheet. It will also be very important for students to appreciate the crucial difference between profit and cash, which is reinforced through various areas that are covered in the module. One key concept for all businesses that is covered is a cash budget and both decision-making on a short-term basis and basic costing are covered to give students an indication as to how costs are determined and prices are calculated. The Regulatory framework of accounting is also addressed and interpreting financial data, through ratio analysis, is a key focus of the module.

Upon completion of this module you will be able to

LO1: Identify the key objectives of financial reporting.

LO2: Prepare basic financial statements.

LO3: Recognise how to plan for and manage cash resources.

LO4: Apply breakeven analysis to decision making.

LO5: Use ratio analysis to interpret financial statements.