Period: 16-20 June 2025
Homework: 4 hours / day
Level: Bachelor level - Introductory
Pre-requirements: None
Book: Libby, Libby, Hodge “Financial Accounting” 11th Ed International. (Connect access code to e-book, quizzes, chapters’ summaries and exercises)*.
Financial Accounting:
This is an introductory course in Financial Accounting. It requires no prior knowledge and it covers the introductory core elements of the discipline, to provide a solid basis for a successful professional or academic career. The course is rigorous and comprehensive, and goes fast through substantial content, to offers you value for your time investment. The content is not difficult, but it is technical and requires study and practice. For that, you much be committed and devote time to practice over the short time of the delivery of the course.
The course aims to build the foundation of accounting knowledge in a fun and time-efficient way, as well as to enable and inspire you for further study and progress.
The course is useful for those who want to start studying accounting, refresh their knowledge of the subject, progress with academic study at higher level or want to start the pursue of professional accreditation in any field of accounting.
Rationale: There is no other business subject as widely used and important, for decision makers, in the real business world, as accounting. And this is for many good reasons. Managers, investors and the various business stakeholders need objective and reliable information to make their decisions. Accounting is the primary source and provider of reliable business information, and it is in real life one of the most commonly used. Of course there are other important sources of information about business, but the paramount importance of objective and reliable information from inside the organization that accounting provides, is undeniable. Knowing accounting allows the users of the company reports and the reported accounting information to understand the numbers and information reported and make better, informed decisions. Furthermore, knowing accounting provides valuable, key knowledge and skills that can be the bedrock of a prosperous, interesting and rewarding professional business career. In our increasing complexity business world, there is high demand and highly paid jobs on offer in the field of accounting. This course aims to be the gateway to the exciting world of accounting and to inspire you to pursue a rewarding career in business or academic world.
Content: This course focus in the knowledge required to understand and create financial statements and reports, and understand their importance in the modern real business world environment. We start our building blocks approach from the basics, and build on the discussion of the nature and importance of accounting information and the regulation of accounting reporting and role of the accounting standards. We then explain the important of transaction analysis and how this helps in guiding the creating of the major accounting statements. The accounting equation and the use of journal entries and T-accounts are next introduced and explained, and the knowledge is consolidated through the use of real business examples and exercises. The course includes study of investment and operating decision and how their effects are captured and presented in the statement of financial position and the income statement, before moving to the analysis of the cash flow statements. We also study more complex issues such as the end-of-period adjustments, reporting and interpreting acquisitions and use of property, plant and equipment, natural resources and intangibles, as well as their depreciation and amortization. The course covers the accounting treatment of inventory and working capital elements, as well as te statement of cash flows and the stockholders’ equity.
Topics:
• The role of accounting, business types and corporate governance, financial reporting and International Accounting Standards.
• Accounting cycle, transaction analysis, accounting reporting principles, general journal entries and the ledger accounts .
• Investing and financing decisions and the Statement of Financial Position.
• Operating decisions and the Income Statement.
• The Cash Flow Statement
• Accruals, prepayments and end-of-period adjustments.
• Recording and reporting inventory and working capital.
• Non-current assets, intangibles, depreciation and amortization.
• Financial statements analysis.
