Financial Accounting

The aim of this course is to develop knowledge and understanding of the underlying principles and
concepts relating to Financial Accounting and to develop technical proficiency in the use of doubleentry
accounting techniques, including the preparation of basic financial statements for single
entities. Students are also introduced to basic techniques for the interpretation of financial
statements.
On completion of this course, students will reach a competency level sufficient to be able to:

• Explain the context, purpose and qualitative characteristics of financial information
• Record transactions and events using the double-entry accounting system
• Prepare an extended (adjusted) trial balance
• Prepare basic financial statements for incorporated and unincorporated entities.
• Interpret financial statements