THE UNIVERSITY OF EDINBURGH 
ACCN08012: Accounting for Business 1 
Final Examination Guide and Notes 2025 
 
Part 01: Revision Notes 
Part 02: Sample Final Examination Paper 
Part 03: Suggested Solutions to Final Exam Paper 
Part 04: Final Examination - Hints and Tips 
 
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University of Edinburgh - ACCN08012: Accounting for Business 1

£25.00

ACADEMIC YEAR 2025 - 2026

University	University of Edinburgh
Course Code	ACCN08012
Course Name	Accounting for Business 1
SCQF Credits	20
Notes Title	Final Examination Guide and Notes
Format	PDF
Page Length	81

Prepare for ACCN08012: Accounting for Business 1 at the University of Edinburgh with a clear set of notes focused on what can appear in the exam. See which topics are likely to be tested, the styles of questions to expect, and how marks are earned. You get short revision notes, exam-style papers with step-by-step solutions, plus advice on timing, avoiding common errors, and laying out answers clearly.

The first part of this course introduces participants to the nature and scope of financial accounting, together with the various types of business structure and the accounting requirements of each. Students will gain a knowledge of the principal accounting terms and the main financial statements required by any business, together with an understanding of the purpose of each. Students will acquire tools to analyse and interpret the financial statements overall in order to recognise key trends of how the business is performing, and how this information can be used to plan for its future operations. The course also looks at financing options for a business; funding that can generated within the business together with options for third party funding.

The second part of the course will give course participants an understanding of the internal management accounting systems and processes used by businesses in their planning and costing decisions in order to achieve the overall aims and objectives of the business. Key accounting tools such as budgetary planning and costing will be examined, and having completed the course participants will be able to apply the principles of these techniques to solve problems and answer questions faced by management regarding its financial operations.

✔ Outline Content:

Nature and scope of financial accounting and its importance as a management tool in the operation of tool of a business
Types of business structures (Sole trader, Partnership, Company) and the accounting requirements for each.
Understanding accounting terms and financial statements for a business.
Evaluating performance of the business using the financial statements information
Compare and contrast the internal and external sources of finance available to a business
The budgeting process and its importance for an business or organization
The role of costing and the terminology and processes used in this area
The use of break-even analysis in making decisions for a business
Full costing and its use in the costing of services and products and its role in setting prices.

COURSE CODE	COURSE NAME
ACCN08007	Accountancy 1A
ACCN08008	Accountancy 1B
ACCN08009	Accountancy 2A
ACCN08012	Accounting for Business 1
BUST08003	Principles of Finance
BUST08004	Marketing
BUST08005	Business Economics
BUST08018	Applications of Finance
BUST08029	Introduction to Financial Markets
BUST08030	Introduction to Corporate Finance
BUST08033	Introduction to Data Analysis
BUST10012	Corporate Finance
BUST10023	Futures and Options
BUST10032	Investment and Securities Markets
ECNM08004	Economic Principles
ECNM08016	Statistical Methods for Economics
ECNM10052	Essentials of Econometrics
ECNM10056	Applications of Econometrics
ECNM10069	Topics in Macroeconomics
ECNM10070	Topics in Microeconomics
MATH08051	Statistics
PPLS08001	Research Methods and Statistics

University of Edinburgh - ACCN08012: Accounting for Business 1

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