| CODE | ACC1200 | |||||||||
| TITLE | Principles of Accounts | |||||||||
| UM LEVEL | 01 - Year 1 in Modular Undergraduate Course | |||||||||
| MQF LEVEL | Not Applicable | |||||||||
| ECTS CREDITS | 4 | |||||||||
| DEPARTMENT | Accountancy | |||||||||
| DESCRIPTION | This study-unit will address the following topics: 1) The nature and use of Accounting; 2) Preparation of final accounts, the annual report and published accounting information; 3) Methods of Depreciation; 4) Stock Valuations; 5) Bank Reconciliation Statements; 6) Control Accounts; 7) Accounting for non-profit oriented organisations; 8) Interpretation of Financial Statements - Ratios; 9) Business decision making - Cost Behaviour and Investment Appraisal; 10) Forecasts and Budgets. Study-unit Aims: The aim of this study-unit is to provide students reading for a Diploma in Banking and Finance with an introduction to accounting concepts and principles. In the course of the delivery of this study-unit, the main components of a set of financial statements in line with IFRS will be considered, with particular reference to the use of accounting information by bankers, and its importance to them. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to interpret the main components of a set of financial statements for sole traders, profit-oriented and non-profit oriented organisations. Students will also have a sound knowledge of a bank reconciliation statement, control accounts, interpretation of financial statements through the use of accounting ratios and how to apply budgeting and investment appraisal techniques. 2. Skills: By the end of the study-unit the student will be able to: a) Define the nature and purpose of accounting information; b) Outline the basic concepts and principles of accounting; c) Describe the main components of an annual report; d) Prepare a cash flow statement and interpret a company's cash position; e) Prepare bank reconciliation statements; f) Explain the purpose for the preparation of the sales and purchases ledger control accounts; g) Analyse the financial position of an organisation through the application of accounting ratios; h) Analyse cost behaviour and apply investment appraisal techniques when undertaking capital investment decisions; i) Apply budgeting in the context of decision-making. Main Text/s and any supplementary readings: - Wood, F. and Sangster, A., 2008. Business Accounting I, 11th Edition, Pitman Publishing. - Dyson, J.R., 2007. Accounting for Non-Accounting Students, Pitman Publishing. - Edwards, J.R. and Mellett, H.J., 1996. Accountancy for Banking Students, The Chartered Institute of Bankers. |
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| STUDY-UNIT TYPE | Lecture | |||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Lisa Maria Vella |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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