UNIVERSITY OF LONDON 
AC1025: Principles of accounting 
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 London - Principles of Accounting (AC1025)

£35.00

ACADEMIC YEAR 2024 - 2025

University	University of London
Module Code	AC1025
Module Level	Level 4
Credit Value	30
Module Name	Principles of accounting
Notes Title	Final Examination Guide and Notes
Page Length	81

This guide provides a comprehensive summary of the key concepts covered in AC1025: Principles of accounting at the University of London. It highlights essential information to help you understand and apply financial accounting principles effectively. Designed specifically to support your exam preparation, this guide ensures you can recall and apply key concepts with confidence. You don’t need to be an expert in the course - just a basic understanding is enough. These notes serve as a valuable reference to reinforce your learning, enhance your understanding of the topics, and improve your performance in the final exam.

This course, AC1025: Principles of accounting offers an introduction to both financial and management accounting, providing a solid foundation for further study or for non-specialist students. The course covers key financial accounting topics such as accounting harmonisation, International Financial Reporting Standards, and the preparation and interpretation of financial statements—including the Statement of Financial Position, Income Statement, and Statement of Cash Flows. In addition, it explores management accounting and financial management concepts, covering cost behaviour, marginal and absorption costing, cost-volume-profit analysis, and budgetary planning and control with an emphasis on standard costs, targets, and variance analysis, as well as techniques for capital investment decisions.

Upon successful completion of the course, students will be able to distinguish between various uses of accounting information for different user groups and understand the limitations inherent in financial statements and their analysis. They will also be equipped to categorise cost behaviour, compare inventory valuation methods, grasp the budgeting process for planning and control, and apply relevant techniques to support internal decision-making.

MODULE CODE	MODULE NAME
AC1025	Principles of Accounting
AC2091	Financial Reporting
AC2097	Management Accounting
AC3059	Financial Management
EC1002	Introduction to Economics
EC2020	Elements of Econometrics
EC2065	Macroeconomics
EC2066	Microeconomics
FN1024	Principles of Banking and Finance
FN2029	Financial Intermediation
FN2190	Asset Pricing and Financial Markets
FN2191	Principles of Corporate Finance
FN2203	Principles of Asset Pricing
FN2208	Financial Data Analysis
FN3023	Investment Management
FN3092	Corporate Finance
FN3142	Quantitative Finance
FN3204	Investments and Portfolio Management
FN3206	Derivatives and Risk Management
MN1178	Business and Management in a Global Context
MN2028	Managerial Economics
MN3141	Marketing Management
ST104A	Statistics 1
ST104B	Statistics 2
ST2187	Business Analytics, Applied Modelling & Prediction

University of London - Principles of Accounting (AC1025)

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