Module Identifier AC10120  
Academic Year 2004/2005  
Co-ordinator Mr Iain McDougall  
Semester Semester 1  
Mutually Exclusive AC11020  
Course delivery Lecture   14 Hours  
  Seminars / Tutorials   5 Hours  
  Practical   2 Hours  
  Practical   2 Hours  
Assessment TypeAssessment Length/DetailsProportion
Semester Exam3 Hours  80%
Semester Assessment1 Hours Objective test  20%
Supplementary Exam3 Hours  100%

Learning outcomes

On successful completion of this module students should be able to:


The module will provide non-accounting and finance students with an introduction to the preparation and analyse of the three main financial accounting statements: the balance sheet, profit and loss account and cash flow statement. The module also aims to assist the development of a variety of personal transferable skills by encouraging students to:

Brief description

This module will provide non-accounting and finance students with an introduction to: the assumptions and techniques underlying the preparation of financial statements, the information needs of the various stakeholders, interpretation of financial statements, and current issues in financial reporting.


  1. Introduction to financial accounting and financial reporting; contents of financial reports; users of financial reports.
  2. Valuation of assets and liabilities; recognition of income and expenditure; regulation of financial reporting; accounting conventions; international considerations; limitations of financial accounting.
  3. Financing and structuring of companies; ownership and control; balance sheet equation.
  4. Calculation of profit: stock, prepayments, accruals, depreciation, bad debts, and taxation.
  5. Double entry bookkeeping.
  6. Cashflow statements.
  7. Unincorporated entities: sole traders.
  8. Segmental reporting; inflation; environmental reporting; foreign currency translation.
  9. Interpretation of financial reports; limitation of financial reports; Creative accounting.
  10. Course conclusions and current developments in financial reporting.

Reading Lists

** Recommended Text
Dyson, J R (2004) Accounting for Non-Accounting Students 6th edition. Prentice Hall
Davies, T and Pain, B Business Accounting and Finance McGraw Hill
Ateril, P. and McLaney, E. (2003) Accounting and Finance for Non-specialists 4th edition. Prentice Hall


This module is at CQFW Level 4