Financial accounting frameworks
Credit Type:
For-Credit
Credits Available:
15 Credits
Course Level:
Postgraduate
Academic Direction:
University College London
About the course
This course aims to provide you with a good grounding in and an appreciation of the financial accounting essentials that any analyst, manager or business owner should possess.
A key aim is to show how the financial transactions and activities of a business in a particular financial period are constructed, and how they depict the financial story of that period through the subsequent construction and publication of core financial statements: balance sheets, income statements, and cash flow statements. In so doing it explains why profit and cash measurements of the same transactions and activities differ. This involves identifying and dealing with issues in revenue and expenses recognition, and in the valuation of assets and liabilities.
Recommended learning hours: 150
Course details
- Credit Type: For-Credit
- Study Method: Online, flexible
- Learning Outcomes: On successful completion of this course, students will be able to:
- Understand why it is important for commercial businesses, particularly limited companies, to account for the financial value of transactions, events and activities.
- Understand the conceptual framework underpinning financial accounting systems.
- Identify and explore a range of issues and challenges within financial reporting.
- Record the financial value of transactions, events and activities in financial accounting systems.
- Construct key financial statements and recognise their strengths and weaknesses.
- Calculate and interpret financial ratios for a range of users of financial information.
- Career Opportunity: This microcredential provides foundational knowledge for careers in financial accounting, auditing, and financial analysis. It is also beneficial for those pursuing roles in business management or entrepreneurship, where understanding financial statements and reporting is crucial.
- Target Learners: Best suited for students seeking a solid grounding in accounting principles to complement technical or managerial expertise. It is ideal for individuals who aim to interpret and apply financial information for decision-making in diverse organisational settings.
- Estimated Time to Complete: 10-20 weeks
- Maximum Registration Period: 1 Year
- Entry Requirements: To be eligible for the course, you must have:
- an undergraduate degree which is considered at least comparable to a UK third class bachelor’s degree , OR
- at least two years’ relevant professional experience at a graduate level, AND
- a high standard of English, equivalent to an IELTS score of at least 6.5 overall with 6.0 in the written test, or a Duolingo score of at least 120.
- Tech/Computer Requirements: We set minimum computer and web access requirements for online study. These are updated from time and can be found at https://www.london.ac.uk/study/how-apply/computer-requirements.
- Prior Knowledge: A good standard of numeracy and a solid grasp of accountancy from your previous education or professional experience will be advantage. If in doubt, we recommend that you first register for the ‘Financial Management Essentials' course.
- Skills Acquired:
- Financial recording and reporting
- Preparation of financial statements
- Application of accounting principles and frameworks
- Financial data analysis and interpretation
- Evaluation of financial performance
- Start Anytime? Yes
Microcredential Courses
- Course Level
- Postgraduate
- Subject Area
- ACAFM Accounting and Financial Management
- Academic Direction
- University College London