Program Overview

Award in Financial Accounting (Accountancy & Finance)

Overview

This course allows learners to become familiar with the fundamentals of the framework related to accounts. This module allows learners to be introduced to the basics of accounts and moves to the preparation of various accounts and financial statements. Learners shall also be exposed to ways of interpreting financial statements and their role in planning and decision making.

Awarding Body & Accreditation

This qualification is awarded by eie Institute of Education and is accredited by the Malta Further and Higher Education Authority (MFHEA). MFHEA deems this Award to be at MQF Level 5 (12 ECTS) of the Malta Qualifications Framework and the European Qualifications Framework for lifelong learning.

Learning Outcomes

Competences

At the end of the course, the learner will have acquired the responsibility and autonomy to:

• Carry out effective preparation of trial balance, financial statements, simple consolidation financial statements
• Be responsible for the effective interpretation of financial statements
• Record transactions and events making use of accruals and prepayments, depreciation, intangible non-current assets, inventory, cash, sales and purchases and tangible non-current assets

Knowledge

At the end of the course, the learner will have been exposed to the following:

• Critically analyse the purpose of financial reporting within organisations, as well as the main elements of financial reports
• Discuss the qualitative characteristics which are found in financial information
• Analyse the potential use of double-entry and accounting systems
• Critically reflect on the importance of recording transactions and events in financial accounting
• Define terms such as ‘sales and purchases, cash, inventory, tangible non-current assets, depreciation, intangible non-current assets, accruals and prepayments, receivables and payables, provisions and contingencies and capital structure and finance costs ’
• Critically reflect on the use of trial balance
• Reflect on the preparation of basic financial statements
• Analyse the tools used to prepare simple consolidated financial statements
• Critically analyse ways to interpret financial statements
• Reflect on the laws and regulations that govern finance and accounting

Skills

At the end of the course, the learner will have acquired the following skills:

• Use double entry book-keeping and accounting systems as well as ledger accounts, journals and books of prime entry
• Practice effective recording of transactions and events making use of inventories, depreciation, cash, sales and purchases, tangible non-current assets, intangible non-currents assets and amortisation and accruals and prepayments
• Use acquired skills to prepare a trial balance
• Demonstrate knowledge and skills to prepare basic financial statements including profits and loss, events after reporting period, incomplete records, statements of cash flows, disclosure notes and statements of financial position
• Prepare simple consolidated financial statements including subsidiaries and associates
• Interpret financial statements making use of ratios

Teaching Methodology

This course shall be taught with a student-centred approach whereby learners are encouraged to take active participation in their own learning. Learners shall be presented with PowerPoint presentations, case-study examples, and other interactive learning materials. Students will be asked to discuss and exchange communication amongst each other (classroom or online, as per learning mode chosen).

Assessment

This course shall be assessed with an assignment (75%) whereby learners are expected to present an original piece of work including properly referenced literature and practical examples. The assignment has a word count limit of 1,500 words. Learners are also expected to undergo a classroom assessment including discussions, multiple-choice assessments and/or observation (25%). Moreover, learners are expected to obtain a minimum of 50% of the total mark to successfully pass from the course.

Fees

• Total lecture hours: 60
• Fees: €1,500.00
• EU & Non-EU Nationals: €1,500 Euro (whole course will cost you €450 Euro after Tax Credit - Save €1,050 Euro) Get Qualified Scheme

Upon Successful completion of this course, you will be able to recover (if eligible) up to 70% (through tax credits) of expenses on both the registration and tuition fees paid when starting the course.