University of the West Indies

Department of Management Studies




DURATION:          Summer


INSTRUCTOR:     Rohan Chambers
                                C/o School of Business Administration
                                University of Technology.
                                Tel#: (876)-927-1680-8 Ext. 2141 
                                Fax#: (876)-702-3303
                                Personal web site:



The course seeks to provide the foundation of financial management. It will introduce some of the basic concepts used by financial managers in the decision making process, provide a theoretical framework within which these concepts are applicable and draw upon local situations to highlight the importance of both theory and the practice of finance.

 In the end, it is intended that the substructure is laid for a more advanced course in financial management.







Topics and sub-topics

Notes  [ the date on which the lecture will be covered is in the square brackets]

(W - Word Document)

(P- Power Point Document)

Tutorial Q&A [the date on which the tutorial will be held is in the square brackets]

Supplemental articles/web sites

The links with require Adobe Acrobat Reader to view them. If you do not have this software click below: 

1 Introduction
  • The accounting process
  • Basic forms of business organizations.
  • IASB Framework
    • Purpose
    • Objective of financial statements
    • Qualitative characteristics of financial statements.
    • Elements of financial statements.
  • Other accounting concepts and principles.
  • Financial reporting in accordance with International Accounting Standards.



  [Wed, Jun 2]

Notes(1) - W

Notes(2) - W

Notes(3) - W

Summary - P




[Tue, Jun 8]

Q, A


2 The Accounting Equation & the Accounting Cycle
  • The double entry accounting system
  • Debits and credits
  • Recognizing and recording transactions
  • Use of Journals, ledgers and trial balance
  • Adjusting and closing entries.
  • The worksheet
  • Balance sheet and income statement.
  • Accounting differences between Sole Traders, Partnerships & Corporations


[Fri, Jun 4]

Notes(1) -P

Notes(2) - P


 [Tue, Jun 8]

Q, A



[Wed, Jun 9]

Notes(1) - P

Lecture Question -W *

Accountants Worksheet for lecture question - Excel *

Solution to Lecture Question - Excel

* - I will carry a copy of these to the class, but not the notes

[Tue, Jun 15]

Q, A

[Fri, Jun 11]

Notes - P



Accounting for Merchandising Activities

  • Characteristics of merchandising companies
  • Accounting for perpetual and periodic inventory systems
  • Evaluating the performance of merchandising firms


[Wed, Jun 16]

Notes - W

Notes - P


[Wed, Jun 23]

Q, A

 [Fri, Jun 18]

See above (June 16)


Accounting for Assets and Liabilities

  • Cash

  • Short-term investments

  • Accounts receivable

  • Acquisition of plant assets and depreciation

  • Disposal of fixed assets

  • Intangibles

  • Natural Resources

  • Current & long-term liabilities

  • Estimated liabilities and loss contingencies


[Fri, Jun 25]

Notes - P


[Tue, Jun 29]

Q, A

[Wed, Jun 30]

Notes - P

 [Tue, Jul 6]

Q, A


[Fri, July 2]

Notes - P


Accounting for Stockholders Equity

  • Authorization and issuance of shares

  • Characteristics of ordinary and preference shares

  • Subscription for shares

  • Share premium account

  • Cash dividends

  • Bonus issue and rights issue

  • Statement of retained earnings

  • Statement of changes in equity.

[Wed, July 7]

Notes - P

 [Tue, Jul 13]

Q, A


Measuring Cash Flows

  • Preparation of statement of cash flows using the direct and indirect methods
 [Frid, July 9]

Notes - P

Lecture question

Solution to lecture question

[Wed, Jul 14]

Q, A


Introduction to Financial Statement Analysis

  • Measures of liquidity
  • Measures of credit risk
  • Measures of profitability
[Fri, July 17]

This topic will no longer be taught or tested !





    Lectures will be the forum for the introduction and general discussion of each topical area. Students are required to obtain the lecture notes from the course's web site (see above & below) and bring them to the lectures. I will assume that this has been done.

    Tutorials will be the forum for students to cement the material covered in the lectures. Students will be randomly selected to work tutorial questions and as such must therefore prepare all questions prior to attending tutorials. I will also assume that this has been done.


  1. ASSESSMENT PROCEDURES                                                                                


Type Date & Time Topics Length Format Weight (%)
Mid-Semester Exam Tuesday, June 22 7:20 - 9:00pm 1 - 2 1 hour & 40 minutes 40 mcqs  40
Final Exam Wednesday, July 21, 1:00pm - 3:00pm (Check the department for confirmation) 3-7 6 2 hours Section A - Compulsory Cash, Liabilities, Equity 60
Section B - Choose one Receivables or Plant Assets
Section C - Choose one Merchandising Activities or Cash Flow Statement



    * - More details on these assessments will be provided throughout the course and are all subject to change.


  • Main Text
  • Alternative Texts
    • Horngren, C T., Sundem, G L., and Elliot, J A., Introduction to Financial Accounting, 7th ed., Prentice Hall 1999

    • Heintz, J., and Parry, R., College Accounting, 17th ed., South-Western, 2002

    • Any other American text.


  • Other references
  • Note - Additional references and reading assignments will be prescribed as the need arises.