The following key concepts will be covered in the course:
- Basic principles and underlying concepts of financial accounting and management accounting
- The financial statements
- The role of financial statements in management decision making
- Preparing Income statements, Balance sheets and cash flow statements
- Analysing and interpreting financial statements
- Users of financial information/usefulness of accounting/the major financial statements/Accounting conventions/Preparing a balance sheet
- Effects of trading operations on the balance sheet/Classification of assets and claims/Balance sheet formats
- Accounting conventions and the balance sheet/Discuss purpose and limitation of the balance sheet
- Nature and purpose of the profit and loss account/Relationship between the profit and loss account and the balance sheet
- Recording advanced trading transactions including accruals accounting and depreciation
- Recording advanced trading transactions including costing inventories and trade receivables problems
- Accounting for limited companies/Financing limited companies/International Accounting Standards
- Basics of Double-entry bookkeeping/Recording trading transactions
- Balancing accounts/Preparing the trial balance
- Recording advanced trading transactions including depreciation, liabilities, prepayments and accrued expenses/ Preparing final accounts
- Discuss the importance of cash to a business/ Explain the nature of the cash flow statement
- Prepare a cash flow statement/ Interpret a cash flow statement
- Analysing and interpreting financial statements/Key steps in financial ratio analysis/Calculating ratios/Evaluating the profitability
- Calculating ratios/Evaluating the liquidity and Efficiency/ Evaluating financial gearing
- Teacher: Michael Xu 徐琦