Award in Principles of Financial Accounting

Program Overview

The Award in Principles of Financial Accounting is a Level 5 qualification designed to equip students with the fundamentals of financial accounting. Through practical experience and project-based learning, students will master double-entry accounting, prepare financial statements, and analyze financial data. This program prepares individuals for careers in finance, including financial analysts, accountants, bookkeepers, and auditors.

Program Outline

Degree Overview:

The Award in Principles of Financial Accounting is a Level 5 qualification designed to equip students with the fundamental principles and practices of financial accounting. It focuses on how business transactions and events are recorded, processed, and reported. Students will gain practical experience by preparing financial statements and conducting analyses to gain valuable insights. The program also explores the consolidation process, guiding students in creating consolidated financial statements for group-affiliated entities.

Objectives:

Upon completion of the program, learners will be able to:

• Apply double-entry accounting and the accounting equation to record transactions.
• Prepare and correct trial balances, including the use of a suspense account.
• Draw conclusions using qualitative characteristics of financial information.
• Create consolidated financial statements for subsidiaries and associated entities.
• Analyze inter-linkages between financial statements and understand profitability, liquidity, resource efficiency, and financial position concepts.

Assessment:

The Award in Principles of Financial Accounting is assessed through the following methods:

• Exam: A written exam will be conducted to evaluate students' understanding of the course material.
• Individual Project: Students will complete an individual project to demonstrate their practical application of the learned principles.
• Reflective Journal: Students will maintain a reflective journal to document their learning journey and critical thinking throughout the program.

Careers:

This course is intended for individuals aged 18+ who aspire to work or are already working in the finance field. It provides a foundation for various career paths within the finance sector, including:

• Financial Analyst: Analyze financial data, prepare reports, and provide recommendations to management.
• Accountant: Record, classify, and summarize financial transactions, prepare financial statements, and ensure compliance with accounting standards.
• Bookkeeper: Maintain financial records, prepare invoices, and reconcile bank statements.
• Auditing: Review financial records to ensure accuracy and compliance with regulations.

Other:

• Awarding Body: Central Mediterranean Business School (CMBS)
• Accrediting Body: Malta Further and Higher Education Authority (MFHEA)
• Duration: 2 Months
• Starting: June 2024
• Credits: 12 ECTS/ECVET
• Language: English
• Location: Central Mediterranean Business School, The Brewhouse, Mdina Road, Zone 2, Central Business District, Birkirkara CBD 2010, Malta
• Delivery: Face-to-face & Work-based Learning