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Description
This module provides students with an introductory level orientation to core financial accounting principles and their applications, both internal and external, to a business organisation. It aims to provide students with a good grounding in and an appreciation of the financial accounting essentials that any analyst, manager or business owner should possess.
Financial Accounting is concerned with accounting for the financial transactions and activities of a business, in a particular financial period, building the financial story of that period through the subsequent construction and publication of core financial statements: Balance Sheets, Income Statements, and Cash Flow Statements. In so doing it explains why profit and cash measurements of the same transactions and activities differ, and how Income Statements and Cash Flow Statements are constructed. The Accounting Equation of Assets = Liabilities + Equity is applied to the construction of the Balance Sheet.
Contextually, the module enables students to identify and explore a range of topical issues and challenges related to financial reporting, for example, issues related to revenue recognition and expense identification, valuation of assets and liabilities and the implications of Corporate Governance for financial reporting.
The module shows students how to calculate financial ratios to analyse and interpret the core financial statements to gain insights into financial health and performance, insights managers and other interested parties, especially shareholders, are particularly interested in.
This module (MSIN0004) is delivered in both Term 1 and 2 with the final examination to take place in the Summer term for both instances.
Module deliveries for 2024/25 academic year
Last updated
This module description was last updated on 19th August 2024.
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