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Accounting: an Introduction

Accounting: an Introduction

An intensive summer programme designed to introduce students aged 19+ to the principles of accounting.

A one-week programme, residential in a college of the University of Oxford.

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Course Summary

Accounting is a key function of any business and it is essential for any business to use at least basic accounting principles to ensure that they keep up to date with the company’s most accurate financial position at any given time in order to make informed business decisions.

This course will take students through the main stages of the accounting process-recording, interpreting, classifying, analysing and reporting financial information to various financial oversight agencies. Students will be introduced to core financial principles such as Revenue Recognition, Full Disclosure, Cost and Matching Principles and so on. It will show students the different types of accounting used to generate interim and annual financial statements as well as monthly and quarterly reports.

It will provide comprehensive coverage and provide practical skills development experience in areas such as financial, managerial and cost accounting and will provide students with opportunities to work through authentic challenges in balance sheet analysis and production, income and cash flow statements that record a company’s financial performance over any given period of time. The arena of financial accounting will then be compared and contrasted with managerial accounting and the needs of the different users identified as well as the costs and sales reporting mechanisms used in managerial and cost accounting presented and practised.

The final day is designed to assist students in preparing for a professional career in accounting through coverage of the General Accepted Accounting Principles (GAAP).

Learning Objectives

By the end of the course students will understand:

  • How to utilise the latest accounting tools, techniques and strategies based on a comprehensive knowledge and understanding of how accounting works and professional skills required
  • The methods used by firms to effectively record, analyse and report on their financial transactions
  • What the latest trends are in the field of global accounting

Course Outcomes

Monday Lecture 1: The Accounting Process- overview
Seminar 1: The Accounting process-gaining experience in working through the process through a group simulation of the various stages
Tuesday Lecture 2: The main Accounting Principles
Seminar 2: Applying the accounting principles – practical exercises
Wednesday Lecture 3: Financial Accounting methods
Seminar 3: Company case study analysis covering the various aspects of different financial accounting methods and reporting mechanisms
Thursday Lecture 4: Managerial and Cost Accounting
Seminar 4: Managerial and cost accounting exercises to develop and review skills in internal financial reporting methods
Friday Lecture 5: Professional standards in Accounting- Introduction to the Generally Accepted Accounting Principles (GAAP)
Seminar 5: Presentations, course review and action planning

 

Assessment Methods

1 x Written Assignment (500-750 words)

1 x Group Presentation

Campuses

Oxford College Accommodation

  • Location Oxford
  • Ages Ages: 12+, 13-15, 16-18, 19+
  • Bedroom Type Single and twin
  • Bathroom Type En-suite & Shared (single gender)
  • Year Built Founded in 1096 (University of Oxford)

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