Accountancy Modules

Year 1

Introduction to Financial Accounting


This module introduces the basic concepts and principles of financial accounting. No prior knowledge of the subject is required. Topics covered in the module include the accounting principles, the accounting cycle, and the accounting conceptual framework underlying the preparation of financial statements.

The financial statements (income statement, statement of financial position, statement of comprehensive income, statement of changes in shareholders' equity and cash flow statement) and their components (inventory, non-current assets, current liabilities, long-term liabilities, shareholders' equity, revenues, expenses and other comprehensive income) are explained.

Introduction to Economics


The scope of this module includes principles of microeconomics and macroeconomics. The first half of this module introduces core principles of the work in economics and topics covered include the scarcity, the incentive, opportunity cost, supply, demand, elasticity, different types of market structures and game theory. The second half of this module introduces the broad picture of the economy, macroeconomics. The topics covered in the module include aggregate demand and supply, gross domestic production, price level. Building on the macroeconomics concepts, the module also examines the economic cycles and fluctuations, government intervention using monetary and fiscal policy and international economy.

Organisation and Management


This module provides an understanding of the fundamentals in organisational behaviours and management. Topics covered in the module include organisation design, organisational culture, organisational change, decision making, and management of conflicts.

Business Law


This module provides the knowledge and understanding of the relevant Singapore laws applicable to business activities that are fundamental to the competency of an accountant or finance practitioner. The focus is to provide students with a working knowledge of selected categories of law relevant to business in Singapore. Topics covered in the module include laws of contract, agency, business organisations, tort and intellectual property law.

Foundations of Finance


This module provides students with a basic understanding of finance theory and the fundamental tools of financial decision-making. It lays the foundation for more advance finance modules.  Topics covered in the module include the basic concepts of financial mathematics, investment evaluation techniques, the use of the Net Present Value (NPV) rule, capital budgeting, the valuation of both debt and equity securities, risk and return relationships, and diversification and portfolio theory.

Business Information Technology


This module provides an introduction to information and communications technology within the organizational and social context, and the role technology plays in managing businesses and delivering services. The focus will be on the management and strategy aspects of computer systems. Topics covered in the module include methods for improving business competitiveness and creation of new value via technology in the current networked and global climate. Other topics including processes, policy implications, ethics and social responsibility are also covered.

Audit Process


This modules introduces the audit processes and practices within the framework of auditing standards. Students will be introduced to the basic ethical principles, threats to independence and the fundamental auditing concept of independence, audit evidence and audit risk. The practical aspect of auditing will then be explored where students will learn how auditing is conducted in terms of audit planning. Topics include audit evidence and audit documentation, risk assessment, internal control procedures, and audit engagements. A pre-requisite of ACC1001 Introduction to Financial Accounting is required for this module.

Introduction to Management Accounting


This module introduces the basic management accounting concepts and techniques which involve planning, directing, decision making and controlling functions of an organisation. Topics covered in the module include product costing, activity-based costing and management, activity analysis, cost behaviour and cost estimation, cost volume profit analysis, profit planning, budgeting and decision making. Pre-requisite: ACC1001 Introduction to Financial Accounting.

Emerging Technologies in Accounting


This module provides students with an overview of computerized accounting application system, emphasizing the recording of day to day business transactions. Students will acquire the skill in recording business transactions using a computerized accounting package, analysing financial reports and preparing financial statements. Topics covered in the module include manual accounting system, computerized accounts setup, Enterprise Resources Planning system, and industry trend such as cloud accounting. Pre-requisite: ACC1001 Introduction to Financial Accounting.

Regulatory Framework of Accounting


This module builds on the knowledge in ACC1001 Introduction to Financial Accounting. It covers the preparation of corporate financial statements that comply with the Singapore’s Financial Reporting Standards (SFRS), which are based on the International Financial Reporting Standards (IFRS) and other regulatory requirements. Topics covered in the module include the fundamentals on accounting for revenues, property plant and equipment, leases, investments in bonds and equities, investment properties, income taxes, provisions and contingent liabilities, changes in accounting policies and accounting estimates. Pre-requisite: ACC1001 Introduction to Financial Accounting.