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Our aim is to provide you with a learning environment in which you can strengthen your skills as a self-directed learner and enhance your capacity to interact and collaborate with your peers, share experiences, challenge accepted ideas and build new knowledge.
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Introduction
This course is designed to provide an introductory understanding of financial reporting and decision making by companies. The first part of the course examines fundamental accounting concepts, and shows how to construct and analyze company accounts, a critical source of information to outside investors. The second part of the course considers the key areas of company decision making: the capital budgeting decisions of how companies should invest the financing decisions of how companies should raise investment capital, and the payout decisions of how companies should compensate shareholders. The course provides a practical approach to solving accounting problems and expose participants to the overview of financial statements, balance sheets and accounting ratios. Additionally it provides participants with the knowledge of financial reporting conventions.
Purpose
The purpose of this course is to provide participants with a clear understanding of the theory of accounting principles, along with practical approach to solving accounting problems in the workplace.
Aims and Objectives
The aim of this course is to provide participants with a functional knowledge of the accounting principles and practices. Participants will acquire the skills necessary to manage financial statement, balance sheet and cash flow statements, thereby improving their overall accounting knowledge.
At the end of the course participants will be able to:
- Discuss fundamental accounting concept
- Describe the principal factors of cash-basis and accrual basis accounting
- Construct company financial statements (balance sheet, income statement, cash flow statement)
- Analyze financial statements provided in the income statement and balance sheet
- Demonstrate a knowledge of capital budgeting decisions, financing decisions and payout decisions
- Identify those factors affecting the operation of generally accepted accounting principles and practice (GAAP)
Entry Requirements
Participants should possess certification in Principles of Accounts (CXC/CSEC).
Course Content
This course is divided into 8 units. Each unit is the equivalent of one week’s work. The units to be covered in this course are as follows:
- Unit 1: Overview of Financial Statements
- Unit 2: Accounting Concepts and Methods
- Unit 3: Understanding Revenue
- Unit 4: Assets
- Unit 5: Measuring and Reporting Assets and Equities using GAAP
- Unit 6: Liabilities
- Unit 7: Securities
- Unit 8: Investment
- Unit 9: Shareholder’s Equity
- Unit 10: Synthesizing Financial Reporting
When Will the Programme Start?
Contact your nearest Open Campus Country Site on the start date for the programme.
How Do I Apply?
Kindly contact an Open Campus Country Site location nearest to you for further information on the application process.
Course Cost
Please contact your nearest Open Campus Site location for information on the cost for this programme. Locations can be found at this link: http://www.open.uwi.edu/locations
Course Duration
This course will be offered for 10 weeks
Assessment
Assessment will be conducted throughout the course and participants are required to take part in pair work, small group and large group work. There will be a mid-term exercise, a case study and a final exam.
Evaluation
The final grade in this course is a combination of the coursework marks and the final examination mark. However, candidates are required to obtain a passing mark in EACH of the two components: coursework and final examinations, i.e. minimum of 50% for each, to be credited with a pass in a course.
