Accounting

Accounting 1: Financial Accounts

• Introduction to accounting, assets, liabilities and capital, the accounting equation
• Double entry bookkeeping, trial balance
• Accruals, prepayments, bad debt and other adjustments
• Capital and revenue, depreciation
• Profit and loss statements
• Balance sheets
• Ratio analysis : profitability, liquidity, gearing, ROCE
• Introduction to accounting standards and conventions
• Shares, dividends, company structures

Accounting 2: Management Accounts

This unit is only available to students who have completed Accounting 1

• Introduction to management accounting, definitions
• Manufacturing accounts Contribution and marginal costing
• Breakeven analysis, margin of safety, breakeven graphs Overhead absorption
• Cash Budgets
• Standard costing and variance analysis Investment appraisal

Accounting 3: Financial Services

• Key personal savings products
• Key forms of finance
• Forms of finance available to businesses
• Foreign services supplied by the UK clearing banks
• Savings managed in a tax efficient manner.
• The role of accountants and financial advisors in the investment management process
• Financial Services Authority

Method of Assessment: End of unit written examination