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In this module, you will be introduced to three basic forms of organising a business based on the nature of the business and its financing needs. Examining the goal of financial business helps us develop a concrete framework to evaluate a corporate manager’s financial decisions. The corporation organisation form is widespread because it can solve problems facing big businesses, but it also incurs agency costs. You will also learn about some strategies that companies are using to mitigate the agency problem.

Goals and Objectives

Upon successful completion of this module, you will be able to:

• Develop an understanding of the ways to organise a firm.
• Understand the goal of financial management.
• Identify the agency problem and the ways to mitigate it.

The main focus of the learning in this knowledge module is to build an understanding of an accounting information system (AIS) to collect, store, manage, process, retrieve and report on financial data to ensure the highest level of accuracy in a company's financial transactions and record-keeping and to make financial data easily available for internal management decision making and external parties such as creditors, investors, and regulatory and taxation authorities, while keeping data intact and secure. This is generally under supervision and encompasses processing transactions within the system, maintaining the system, producing reports and ensuring system integrity. 

The learning unit will enable learners to demonstrate an understanding of: 

 KM-01-KT01: Accounting information system (AIS) and the basic functions it performs (30%) 

KM-01-KT02: Different parts and components to any accounting information system (30%) 

KM-01-KT03: Design and management of AIS (20%) 

KM-01-KT04: Role of an accounting information system (AIS) in a company's value chain (20%)

The main focus of the learning in this knowledge module is to build an understanding of the basic practice, documents and accounts used in the bookkeeping cycle. The learning will enable learners to demonstrate an understanding of: 

KM-02-KT01: Roles and responsibilities of the bookkeeper (10%)

KM-02-KT02: Ethical principles and practices (10%)

KM-02-KT03: Legislative, statutory, regulatory and industry requirements for carrying out book keeping activities (10%)

KM-02-KT04: Instructions and guidelines for carrying out relevant daily activities and developed in accordance with compliance requirements (5%)

KM-02-KT05: Financial management system design (10%) 

KM-02-KT06: Invoices and other source documents (5%) 

KM-02-KT07: Process receipts and payments (10%) 

KM-02-KT08: Accounting Cycle (5%) 

KM-02-KT09: Double-entry accounting (10%) 

KM-02-KT10: General ledger accounts (5%) 

KM-02-KT11: Journals (5%) 

KM-02-KT12: Statement of profit or loss (5%)

KM-02-KT13: Statement of Comprehensive income (5%) 

KM-02-KT14: Statement of Financial position (5%)