Financial Accounting 1(Acct)

Description

This module is designed to introduce students to the basic concepts of financial accounting, progressing to completing a set of accounts for a sole trader. The module will evaluate and apply the principles of double entry bookeeping, which underpins the financial accounts. The concept of controls in accounting is introduced though the completion of the bank reconciliation process.

Learning Outcomes

  1. Prepare basic ledger accounts under the double entry system.

  2. Prepare trial balance and correct errors.

  3. Produce bank reconciliation statements.

  4. Prepare final accounts for a sole trader.

Credits
05
% Coursework 20%
% Final Exam 80%