Following from the first unit in introductory accounting (Financial Accounting Principles), this unit further develops the theoretical underpinnings of financial accounting and fundamental introduction of management accounting. It covers issues related to the financial accounting elements, covering the conceptual framework of accounting, liabilities, accounting for partnership & companies, cash flow statement, and financial statement analysis. It will also cover the management accounting coverage of job order and process costing system, Cost-Volume-Profit (CVP) analysis, and budgeting, etc. Finally, it gives a theoretical foundation of professional judgement and ethics in accounting. The unit is designed with the combination of a prescribed textbook and readings. |