Module Identifier AC10120  
Academic Year 2006/2007  
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.

Full reading list - contact module Co-ordinator


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


This module is at CQFW Level 4