The overall aim of this unit is to introduce fundamental accounting principles that underpin financial operations and support good and sustainable decision making in any organisation. Students will develop a theoretical and practical understanding of a range of financial and management accounting techniques. On successful completion of this unit, students will be able to assist senior colleagues in producing and analysing budgets, drawing up simple financial statements and using financial ratios to interpret performance. Students will also explore wider aspects of accountancy, especially ethics, transparency and sustainability, and gain fundamental knowledge and skills that will enable them to progress to a higher level of study
Learning Outcomes By the end of this unit a student will be able to:
LO1 Examine the context and purpose of accounting
LO2 Prepare basic financial statements for unincorporated and small business organisations in accordance with accounting principles, conventions and standards
LO3 Interpret financial statements
LO4 Prepare budgets for planning, control and decision-making using spreadsheets.
Skill Level: Beginner