This module is designed to introduce the student to the fundamental concepts and practices of financial accounting.It treats accounting as the manifestation of various social and political pressures and thus considers it in its social context. By learning how to measure financial performance and financial position, the student will appreciate accounting as forming the basis for financial decision-making.

This module introduces students to the basic concepts and vocabulary of financial accounting. Over the period of the module, students develop the ability to construct a set of financial statements from a trial balance listing assets, liabilities, income and expenses together with additional accounting adjustments. Students are also introduced to the difference between the accruals and cash basis of accounting, and learn to produce a cash flow statement. The module involves a climate change workshop, and students are introduced to the concept of sustainability reporting.

On successful completion of the module, students will be able to: explain the importance of accounting information for the financial management of a business including its role in addressing society's need for public accountability and ethical behaviour. Develop an accounting vocabulary and comprehend basic terms (e.g., assets, liabilities, income, expenses, accruals, financial performance, financial position) and differentiate key accounting concepts (e.g., going concern, accruals and the entity concept). Construct a set of basic financial accounts from a trial balance including the ability to calculate basic accounting adjustments like depreciation, accruals, prepayment, bad debts and the sale and acquisition of assets. Produce a cashflow statement from relevant accounting information. Analyse a set of related accounting data along the accounting cycle to culminate in the issuance of financial statements.

On successful completion of the module, students will be able to: Recognise the importance of sustainability for business including the necessity for businesses to engage in sustainability reporting.

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The module is taken by a large cohort of nearly 600 students, so lectures are in large groups. Weekly tutorials are interactive, and students are encouraged to participate actively, working on questions in class and asking questions. The climate workshop at the beginning of the module aims to give the students a sense of belonging and an appreciation of the impact of climate change on businesses and is students centered and interactive. The smart book leverages the benefits of technology and scaffolds the module in terms of pace and content - the students are rewarded with marks for weekly readings. Online tests also scaffold and pace the module and are accessible over a 24-hour period to facilitate access. The end of semester in hall exam is necessitated because of professional accounting exemptions. The module aims to introduce accounting to students who may or may not have done accounting for the leaving certificate and to students who may not want to study accounting as well as those who plan a career in this domain. As such the learning environment is a delicate balance but supports developing curiousity around accounting. The role of accounting and accountants in supporting business sustainability is consistent with the UL Graduate Attribute 'Responsible'.