Finance and Accounting

Every person who needs to understand how companies manage to run profitably to the advantage of all stakeholders needs to understand the concept of accounts.  What does this enigmatic word  ‘accounting’ mean within our context?

Accounting is a service based profession, conducted by highly trained professionals in turn.  Accounting is a process whereby all transactions are classified, recorded, processed and summarised into various useful reports which are finally analysed to the benefit of the company and decision makers.

It provides reliable and relevant financial information useful and even essential for making day to day decisions for the overall survival and development of a company. Financial information may include sales, expenses, taxes, loans and capital raised to fund the business. Understanding how this information is processed is essential for any manager or leader. How this information is prepared involves many steps.

The module on ‘finance and accounting’ introduces the student to key terms and definitions relevant to the subject.   It also assists the student in gaining a better understanding of how financial accounting is applied and the accounting and finance structures within an organisation.

Finance and Accounting