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This subject focuses on the nature of accounting from the perspective of the users of financial reports. In this subject, students will learn how to analyse and interpret financial information prepared by diverse businesses, both profit and not-for-profit. A key theme in the subject is to understand the relevance of accounting information for the decisions typically made by diverse stakeholders including financial analysts, bankers and shareholders as well as the strategic and operational decisions made by managers within the different businesses. This subject is designed to meet the needs of students from all disciplines, who seek to become more informed users of accounting information but who do not intend to pursue further studies in accounting.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Describe the nature and purpose of financial statements;
- Understand the conventions and concepts underlying major accounting reports that influence how they should be used;
- Analyse and interpret the information contained in financial statements prepared by different types of businesses;
- Analyse the relevance of accounting information for key stakeholders outside the business including financial analysts, creditors (such as bankers), and shareholders as well as managers within the different businesses.
On successful completion of this subject, students should have improved the following generic skills:
In respect of issues related to accounting, to:
- Think critically about financial accounting reports, tools and techniques;
- Evaluate, analyse and interpret relevant accounting information;
- Apply financial statement analysis theory and practice;
- Utilise problem solving skills;
- Articulate responses, either orally or in written form.
In addition, students will have enhanced their ability to:
- Listen to others dispassionately and tolerantly;
- Engage in discussion and, where appropriate defend a position;
- Offer constructive criticism.
Last updated: 9 July 2020