This unit provides the opportunity for you to acquire an understanding of business from an accounting perspective and to begin your development of a coherent body of knowledge in accounting and finance.

You will develop skills in planning and decision making, as well as learning about how to communicate your findings in an accounting context.

This unit is designed specifically to provide you with an understanding of the role that accounting plays in various aspects of financial decision-making in business. A user perspective is adopted in which the outputs of the accounting process are explained and interpreted in both internal and external financial decision contexts. You will learn how:

• profit and wealth are measured in a business context;
• the major financial statements are constructed; and
• the outputs of the accounting process may be interpreted and used for key business decision- making.

For those of you intending to take further units in accounting, this unit will serve as an essential foundation and preparation for that continued study.

For those of you not intending to take further units in accounting, the experience gained from this unit will also be invaluable. Accounting is often referred to as the language of business, so whatever aspect of business you intend to specialise in, you will need to be familiar with the concepts and principles underlying the practice of accounting and financial reporting.