International Finance and Accounting
Aims and objectives
The Module will provide an understanding of the theory and practical application of accounting in relation to the following accounting procedures:
- The interpretation of external financial statements of incorporated companies (Financial Accounting).
- Internally generated accounting information for decision making and control within organisations (Management Accounting).
The module will also develop skills in the analysis of accounting data and provides a good understanding of the underlying assumptions on which the figures are based.
The topics covered by the module are:-
The following issues will be considered:
- the underlying assumptions upon which the financial statements are prepared and the relevant International Accounting Standards.
- the strengths and weaknesses of the figures included therein.
- the legal framework under which companies are incorporated and thus the reasons behind the need for companies to prepare annual financial statements.
This will lead to a detailed analysis of a set of financial statements.
This section will look at a number of techniques that companies use for internal decision making, namely:
By the end of the module students should be able to:
- Demonstrate an advanced understanding of and be able to interpret a set of previously unseen financial statements.
- Apply advanced management accounting concepts to business decision-making.
- Display an advanced understanding and critical analysis of the role and function of accounting in the organisation both as an internal reporting and external reporting tool.