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Introductory Accounting

HES 201

Course CodeHES 201
ECTS10

Course Description

Why businesses keep accounts and who uses them, the accounting equation and double entry, financial statements, cash flow and simple ratio analysis.

Course Objectives

To give a foundational understanding of accounting principles and the ability to prepare and interpret basic financial statements.

Key Topics

  1. LO1: Understand the purpose and users of accounting information.
  2. LO2: Understand the accounting equation and double-entry basics.
  3. LO3: Be able to prepare simple financial statements.
  4. LO4: Understand basic ratio analysis.

Course Outline

WeekTopics
1Why businesses keep financial records
2Who uses accounts?
3Income, expenses and profit
4Assets, liabilities and capital
5The accounting equation
6Double entry: debits and credits
7Recording sales, purchases and cash
MidtermMidterm evaluation
9The income statement (profit and loss)
10The balance sheet
11Profit is not the same as cash
12Cash flow forecasts
13Ratios: how profitable is the business?
14Ratios: can the business pay its bills?
15Review and coursework completion
FinalFinal assessment and submission

Learning Outcomes

  1. LO1 Understand the purpose and users of accounting information.
  2. 1.1 Explain why businesses keep financial records.
  3. 1.2 Identify internal and external users of accounts.
  4. LO2 Understand the accounting equation and double-entry basics.
  5. 2.1 Apply Assets = Liabilities + Capital to simple transactions.
  6. 2.2 Record simple transactions using double-entry principles.
  7. LO3 Be able to prepare simple financial statements.
  8. 3.1 Prepare a simple Statement of Profit or Loss.
  9. 3.2 Prepare a simple Statement of Financial Position.
  10. 3.3 Distinguish between profit and cash flow.
  11. 3.4 Construct a simple cash flow forecast.
  12. LO4 Understand basic ratio analysis.
  13. 4.1 Calculate simple liquidity and profitability ratios.
  14. 4.2 Explain what the ratios indicate about business health.
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