Introduction To Business Reporting & Financial Accounting
University of Glasgow
Area of Study
Accounting, Business Administration, Business Management
Taught In English
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits5
Recommended U.S. Quarter Units7.5
Hours & Credits
The course is designed to give students an introduction to the main financial accounting concepts and to develop an understanding of the interpretation of financial statements, partly through understanding the effects of core financial transactions, reading financial reports and investigating how financial accounts are prepared and the accounting figures are created. This is an introductory course that assumes no prior knowledge of accounting.
- Lectures: 10 x 2 hours of lectures
- Tutorials: 4 x 1 hour tutorial
The general aim of this course is to provide a challenging and interesting introduction to the ideas and practices of financial accounting. The course will explore the form and function of financial reporting and the nature of data used in the production of financial statements and how this data is collected and processed in the preparation of financial reports, with reference to the underlying accounting concepts. The principal focus will be related to the interpretation and use of the financial data by non-accounting stakeholders.
Intended Learning Outcomes of Course
By the end of this course students should be able to:
1. Explain the nature and purpose of the three major financial statements and assess their usefulness for various purposes within the context of regulation in financial reporting in the UK, including the implications of international regulatory structures.
2. Compare and contrast the features of different types of accounting entity, and be aware of the implications of organisational form on the structure and nature of financial statements.
3. Describe, apply and explain the meaning of key financial accounting terms, concepts and ideas and be able to discuss and illustrate the implications of these in relation to accounting data and financial reports.
4. Show an understanding of the basic accounting concepts by applying them (particularly the accruals concept) in order to make adjustments to accounting figures or financial statements &/or to process bookkeeping entries related to a range of financial transactions or situations.
5. Describe the main features of the principal sources of finance available to businesses and evaluate the implications of these for the structure and content of financial statements, and be able to implement these in the drafting of extracts of or figures within financial reports.
6. Conduct a basic analysis of financial statements from the perspectives of different stakeholder groups and interpret and evaluate financial statements and the results of the analysis.
7. Discuss and evaluate the limitations of financial reports, ratios and other tools and methods of financial analysis.
Courses and course hours of instruction are subject to change.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.
ECTS (European Credit Transfer and Accumulation System) credits are converted to semester credits/quarter units differently among U.S. universities. Students should confirm the conversion scale used at their home university when determining credit transfer.
Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.