Introduction to Accounting


An introduction to the disciplines of financial and management accounting.


The aim of this Module is to introduce the students to basic financial and management accounting issues.

Learning Outcomes

By the end of this module the student should be able to:

1.  Discuss contemporary financial and management accounting issues.

2.  Draw up summary financial statements for a sole trader.

Indicative Content

1 Introduction to Financial Accounting & Management Accounting

Accounting Theory and Practice: Different branches of accounting. Differences between Financial and Management Accounting.

2 Different Types of Business Organisation

The key concepts in financial accounting and the regulatory framework of financial accounting.

3 Basic Financial Accounting Practice

Production of Income Statement and Balance Sheet for a sole trader including basic adjustments, and financial ratios.

4 Cost behaviour and measuring operational performance.

The classification of costs and revenues and understanding implications of cost behaviour. Using marginal costing to support short-term decision- making. Measuring relevant costs and revenues for decision-making; limiting factors, close-down, make or buy and other short-term decisions. CVP Analysis for a single product.

5 Information for Planning, Control and Decision-making

The budgeting process. Preparation of Cash budgets. Behavioural aspects of budgeting. Sources of management information.

6 Study Techniques

Revising for Exams

Statement on Teaching, Learning and Assessment

Class contact takes the form of interactive lectures and tutorials with students engaged in enquiry based learning for a minimum of 60% of their class time. Tutorials will engage students in enquiry based activities developing their skills in accounting and finance issues. Tutorials will be interactive and students will be encouraged to work together.

Teaching and Learning Work Loads

Total 200
Lecture 36
Tutorial/Seminar 0
Supervised Practical Activity 0
Unsupervised Practical Activity 0
Assessment 60
Independent 104

Guidance notes

Credit Value – The total value of SCQF credits for the module. 20 credits are the equivalent of 10 ECTS credits. A full-time student should normally register for 60 SCQF credits per semester.


We make every effort to ensure that the information on our website is accurate but it is possible that some changes may occur prior to the academic year of entry. The modules listed in this catalogue are offered subject to availability during academic year 2019/10 , and may be subject to change for future years.