Module Convenor: Mr Luca Larcher
This module aims to introduce students to the fundamentals of accounting and financial reporting. The module will commence with a session on double-entry bookkeeping and its application for the preparation of basic financial statements. This will be followed by the required accounting treatment of specific items and transactions such as inventory, depreciation, non-current assets, allowances for doubtful debts, and accruals and prepayments. There will be sessions covering the preparation of financial statements of incorporated bodies, including the statement of cash flows. This will be followed by the analysis and interpretation of financial statements.
Coverage of current issues will include the accounting treatment of financial assets and liabilities, and the use of fair values for financial reporting. The effect of valuing goodwill and other assets at fair values in the current economic climate will also be considered.
Apart from the use of a specific text in class, there will be class handouts covering the core material for each session. There will be regular homework assignments which will be taken in for marking. The module assessment will mainly be by a single examination of three hours duration at the end of the term, with 20% of the marks being allocated to homework assignments.
Assessment: 80.0% Examination, 20.0% Coursework