The aims of this unit are to ensure that students have a sound understanding of the techniques of double-entry accounting and can apply its principles in recording transactions, adjusting financial records and preparing non-complex financial statements. On completion of the unit, students will also be proficient in the use of double-entry accounting techniques and the maintenance of accounting records. They will also develop the ability to identify and correct omissions and errors in accounting records and financial statements.
Students will be able to specify the components of financial statements and prepare and review non-complex accounts for a range of different business structures including sole traders, partnerships, and limited companies.