BS1503: Introduction to Accounting (Solutions) - Cardiff University

The BS1503: Introduction to Accounting module provides non-specialist accounting students with foundational knowledge of financial accounting, management accounting, and financial management. It covers the purpose of accounting and its relevance to user groups, recording business transactions, and the accounting principles governing the preparation of accounts for sole traders, partnerships, and limited companies. Students will learn about control systems in simple organisations, techniques for interpreting financial statements, and the role and limitations of cash flow statements. The module explores basic financing options, the nature and importance of management accounting, cost behaviour, product costing, and budgeting processes. Additionally, it introduces key management accounting techniques to support organisational decision-making and includes topics such as financial performance measurement, adjustments to trial balances, non-current asset management, overhead accounting, and both short- and long-term decision-making approaches.