ACY2001 - Financial Accounting

Year of Study:2
Credit Units: 3
Duration: 45hours
Prerequisites: Exclusion: ACC2001 Principles of Accounting 1 and ACY2011 Business Accounting
Module Description
This is the introductory module of accounting for students, which aims to provide students with a basic understanding of financial accounting, including concepts, principles and functions of accounting, recording and reporting of business transactions and preparation of financial statements. Topics include principles and conventions of accounting, double entry recording system, concepts of accrual accounting, elementary accounting treatment of financial statement items, and preparation of financial statements.
Learning Outcomes
Upon completion of this module, students should be able to:

  1. explain the role and function of accounting to business;

  2. apply the concepts and principles of accounting;

  3. record books of accounts and complete the accounting cycle; and

  4. prepare financial statements.