Teaching Responsibility
LJMU Schools involved in Delivery:
LJMU Partner Taught
Learning Methods
Lecture
Module Offerings
4524NCCG-JAN-PAR
4524NCCG-SEP-PAR
4524NCCG-SEP_NS-PAR
Aims
The modules introduces students to financial accounting principles and techniques to prepare basic final accounts for a range of organisations.
Learning Outcomes
1.
Prepare final accounts for an organisation in accordance with appropriate principles, conventions and standards.
2.
Perform bank reconciliations to ensure company and bank records are correct.
3.
Reconcile control accounts and move recorded transactions from the suspense accounts to the correct accounts.
4.
Consider the implications for the profession of recent major financial scandals.
Module Content
Outline Syllabus:Business transactions and the regulations applying to them
Double entry book keeping
Trial balance; the production of trial balance, its role in identifying and rectifying errors, the components and importance of trial balance
Financial reports and statements; the difference between them, how, why and when they are produces and the financial statements they cover
Adjustments needed financial transactions
Preparing final accounts
Accounting rules and principles
Bank reconciliation, its process and variances
Control accounts; what are they and how to use them
Suspense accounts
Reconciling accounts