Foundation Financial Accounting (by Distance Learning) module (CP50042)

This module explores the reasons for financial accounting practices in a commercial organisation. It also studies the financial statements (balance sheet and income statement) of public companies, particularly those of the mining, oil, and gas industries.

It then provides the reasons for different accounting policies within the extractive industries and how they may differ with organisations in other sectors.

What you will learn

In this module, you will:

• study the nature and purpose of accounting
• understand accounting implications and financial statements in starting a business
• learn about capital assets and depreciation
• learn about cash flow and its management
• explore business performance through the interpretation of financial statements (ratio analysis)
• learn about international accounting and the extractive industries
• learn about financial reporting in the extractive industries

By the end of this module, you will be able to:

• analyse and interpret balance sheets and income statements
• conduct research into particular characteristics of financial accounting in the extractive industries, focusing on mining, oil, and gas
• prepare presentations on issues related to financial accounting
• analyse and interpret negotiation (on any side) to determine the allocation of risks

Assignments / assessment

• final open book exam (100%)

Teaching methods / timetable

You will learn through distance learning on the virtual learning platform Blackboard.

Learning material is provided through a study guide, core reading, tutorial questions, and case studies.