Business Accounting
This Unit is designed to provide you with an understanding of the use of accounting information within a business organisation. You will learn the purpose and construction of primary financial statements: Profit and Loss Account and Balance Sheet. You will also consider the use of Management Accounting information within a business and the preparation of basic budgetary information for a specific project. In addition, the Unit also considers the key users of Accounting information and the various sources of finance available to a business. Finally you will develop skills to enable you to analyse both the overall performance and financial position of a business organisation.
The Unit is assessed using two Instruments of Assessment. The first will be computational in nature and cover the preparation of basic financial and management accounting information. Assessment will take place in controlled conditions and although you will not have access to your textbooks, handouts or other notes proforma layouts will be provided.
The second assessment is based on your analysis of a case study which will include the financial statements of an organisation as well as background information regarding its future expansion plans. You will be given a copy of the case study a few days before the assessment event. You will be allowed to bring a copy of the case study to the assessment event. You may also bring notes which you have made personally for your own use. You will not be permitted to bring textbooks, handouts or other material which you have not prepared yourself.
