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)

£25.00

ACADEMIC YEAR 2025 - 2026

University	University of London
Module Code	AC1025
Module Level	4
Credit Value	30
Module Name	Principles of accounting
Notes Title	Final Examination Guide and Notes
Format	PDF
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 the essential information you need to understand and apply the course material effectively, helping you build a solid grasp of financial accounting principles. The content is structured to support exam preparation by showing you what to focus on and how to apply your knowledge in typical questions. Use these notes as a reference to strengthen your understanding of each topic and improve your performance in the final examination.

This course provides an introduction to financial and management accounting. It is aimed at providing a broad understanding of the theory and practice of financial accounting, management accounting and financial management, both for non-specialist students and as a foundation for further study in the area. This course does not focus on the technical aspects, but rather examines the basic principles and underlying concepts and the ways in which accounting statements and financial information can be used to improve the quality of decision-making.

The course is arranged in two sections. The first section introduces and explains financial accounting concepts and conventions, and provides a grounding in double-entry bookkeeping and the preparation of the primary financial statements. The second section introduces a range of applications and techniques for planning, decision-making and control.

Financial accounting

Accounting harmonisation and International Financial Reporting Standards.
Accounting concepts and conventions: their nature, purposes and limitations.
How to prepare and interpret financial statements: Statement of Financial Position, income statement, and statement of cash flows.
Analysis and interpretation of financial statements.

Management accounting and financial management

Cost behaviour, marginal and total absorption costing for inventory.
Cost-volume-profit analysis.
Introduction to budgetary planning and control, including standard costs, targets, and variance analysis.
Making capital investment decisions.

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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