Financial Accounting Masterclass

The aim of this module is to develop knowledge and understanding of the
underlying principles and concepts relating to Financial Accounting and to
develop technical proficiency in the use of double-entry accounting techniques
including the preparation of basic financial statements for single entities. The
syllabus also introduces basic techniques for the interpretation of financial
statements.

On completion of this module, candidates will reach a competency level
sufficient to be able to:
(A) Explain the context, purpose and qualitative characteristics of financial information
(B) Record transactions and events using the double-entry accounting
system
(C) Correct errors, perform reconciliations and prepare an extended trial
balance
(D) Prepare basic financial statements for incorporated and unincorporated
entities
(E) Accounting for partnerships
(F) Prepare financial statements from incomplete records
(G) Identify the differences between public and private sector accounting
(H) Calculate key accounting ratios