IB133: Foundations of Accounting (University of Warwick) provides a comprehensive introduction to financial and management accounting, focusing on its use as a managerial and decision-making tool rather than as a specialist discipline. You will explore fundamental topics such as financial statements, including the Income Statement, Statement of Financial Position, and Cash Flow Statement, gaining an understanding of how these reports interconnect to reflect a business's financial performance and position. The module covers essential concepts like revenue and expense recognition, cost classification, and depreciation while introducing key techniques such as cost-volume-profit analysis, total absorption costing, and activity-based costing. Additionally, you will learn the importance of cash flow, the differences between cash and profit, and the preparation of basic financial statements, alongside the principles and practices of budgeting, variance analysis, and using budgets for strategic control.

Through the module, students will develop the ability to interpret financial statements, calculate and analyse key financial ratios, and evaluate a firm’s performance over time or against industry benchmarks. Emphasis is placed on understanding the limitations of accounting information and how these constraints impact decision-making and performance analysis. By the end of the module, students will not only be able to prepare basic financial reports but also effectively use accounting tools for planning, control, and performance appraisal. This includes communicating insights and recommendations clearly to a broad range of stakeholders using appropriate financial terminology, enabling informed decision-making and strategic management.

MODULE CODE

MODULE NAME

EC106

Introduction to Economics

EC108

Macroeconomics 1

EC122

Statistical Techniques A

EC124

Statistical Techniques B

EC203

Applied Econometrics

EC226

Econometrics 1

EC238

Economics 2: Microeconomics

EC239

Economics 2: Macroeconomics

EC306

Econometrics 2

IB114

Financial Management

IB132

Foundations of Finance

IB133

Foundations of Accounting

IB146

Accounting for Business

IB148

Principles of Marketing

IB232

Issues in Management Accounting

IB234

Financial Reporting 2

IB235

Finance 1: Financial Markets

IB236

Finance 2: Corporate Finance

IB253

Principles of Finance 1

IB254

Principles of Finance 2

IB359

Derivatives and Risk Management

IB3J8

Banks and Financial Systems