Accounting is the practice of recording, classifying, summarizing, analyzing and interpreting information of an economic nature for the purpose of helping people make decisions. In the world of business, the role of accounting is to support management in providing timely and accurate financial information about the business so that informed decisions can be made. This unit examines some of the basic rules and principles underpinning financial accounting, as well as studying the practical uses of the information supplied through the accounting process.

This unit provides an introduction to statistics concepts and techniques for analyzing economic and business problems. The unit will focus on practical business applications of statistical theory and methods. Topics covered include exploratory data analysis, probability, statistical distributions, sampling and sampling distributions, confidence intervals, hypothesis testing, and regression. Students will be exposed to these topics and how each applies to the business environment. The unit is aimed to develop students’ quantitative reasoning skills and ability to solve statistical problems using both manual computations and statistical software.

This unit first introduces regression analysis and its use in business, especially in economics, finance and accounting. Topics will include the properties of estimators, hypothesis testing, specification error, multicollinearity, dummy variables, heteroskedasticity, serial correlation. It also introduces other modelling techniques in finance and economics. The unit also focuses on developing the comprehensive understanding on corporate finance and the ability to use accounting information, as extracted from financial reports, to assist with managerial decision making. Empirical assignments undertaken by the student form an integral part of the unit. The emphasis is on learning by doing it in small group workshops.

Applied Econometrics examines regression analysis and its use in business, especially in economics, finance and accounting. Topics will include the properties of estimators, hypothesis testing, specification error, multicollinearity, dummy variables, heteroskedasticity, serial correlation. It also introduces other modelling techniques in finance and economics. Empirical assignments undertaken by the student form an integral part of the unit. The emphasis is on learning by doing it in small group workshops.