Accounting Principles

Purpose and role of accounting in business decision-making
Users of accounting information and their information needs
Fundamental accounting concepts and conventions
The accounting equation and double-entry bookkeeping system
Journals, ledgers, trial balance, and common bookkeeping errors
Year-end adjustments (accruals, prepayments, depreciation, inventory)
Preparation and interpretation of basic financial statements: Income Statement & Statement of Financial Position
Introduction to the regulatory and conceptual framework for financial reporting
Ethical considerations in accounting practice

Business Law Foundations

Essential elements of the legal system
International business transactions
International business forms
The formation and constitution of joint stock companies
Capital and the financing of companies
Management, administration and regulation of companies
Legal implications relating to companies in difficulty or in crisis
Governance and ethical issues related to business

Integrated Application

Applying accounting principles to business scenarios with legal implications
Identifying legal risks or requirements through financial information

Mid-term Online Assessment 30% – 1 hour.

A computerised (online) practical assignment in which students prepare double-entry bookkeeping records, make year-end adjustments, and interpret basic financial and legal information. The assessment is based on a simulated business scenario that requires students to apply financial accounting processes and demonstrate an understanding of the underpinning legal considerations.

Final Assessment: Written Unseen Exam – 70% (2 hours + 10 minutes reading time)

A two-hour written unseen examination, with an additional 10-minute reading time, assessing students’ knowledge of core accounting principles, their ability to apply reasoning to accounting and legal scenarios, and their competence in problem-solving within business contexts. The exam typically includes a mix of short-answer questions, structured problems, and scenario-based tasks.

In this module, you will engage in an interactive and student-centred learning experience that integrates theoretical understanding with practical application. Through workshops, seminars, inquiry-based learning, and guided practice, you will explore, practise, and demonstrate key concepts, theories, and principles in a structured yet engaging environment.

You will participate in a range of planned learning activities, including open-ended and close-ended problem-solving exercises, collaborative discussions, applied tasks, and practical demonstrations. These activities are designed to develop your digital, communication, problem solving skills, and independent learning. Your practical skills will be further enhanced through recommended videos, professional talks, and curated digital resources.

Your learning will take place across a variety of environments, including face-to-face sessions, seminars, and digital platforms which will support your directed self-study throughout the study block, helping you consolidate knowledge, extend practical skills, and take ownership of your learning. You will receive ongoing formative assessments and feedback during sessions to support your progress and development.

1. Demonstrate knowledge and understanding of fundamental accounting principles and key areas of business law relevant to organisational practice.

Knowledge and Understanding

2. Demonstrate foundational accounting knowledge through the application of accounting processes, and use of digital tools.

Digital Literacy

3. Communicate accounting and legal information clearly and accurately, using appropriate formats to present findings and explanations.

Communication

4. Apply accounting methods and legal principles to routine business problems, selecting appropriate solutions through structured problem-solving.

Application and Problem Solving

Aim for a maximum of 5 key texts, published within the last 5 years, where possible.

Wood, F. and Sangster, A. (2025). Business accounting: An introduction to financial accounting. 16th edn. Harlow: Pearson Education Ltd. Paperback, ISBN-13: 9781292727783

Weetman, P. (2024). Financial Accounting: An Introduction. 9th edn. Harlow: Pearson Education Ltd. ISBN-13: 9781292457062 2024

Elliott, J., Elliott, B. and Watkins, J. (2025). Financial Accounting and Reporting. 21st edn. Harlow: Pearson Education Ltd. ISBN-13: 9781292739137.

Kaplan Publishing (2025) ACCA Corporate & Business Law — Global (LW) Study Text. Harlow: Kaplan Publishing. 978-1-83996-279-0

Ready to build your accounting and legal skills for business? This module helps you understand how financial information is prepared and interpreted, while introducing the legal principles that impact everyday business activities. You’ll gain practical experience in accounting processes and an awareness of business law, giving you essential skills that contribute to your progression in business studies and prepare you for roles in accounting, finance, or business management.