Principles of Accounting

  • Summer schools
  • Department of Accounting
  • Application code SS-AC110
  • Starting 2022
  • Short course: Open
  • Location: Houghton Street, London

Accounting has been defined as 'the language of business', and this course provides an introduction to its basic concepts, methods and practices.

Knowledge of the underlying concepts of accounting, in addition to its procedures, is an essential element in the education of future managers and other professionals.

Session: One - CLOSED
Dates: 20 June - 8 July 2022
Lecturer: Dr Gulnaz Khamidullina and Dr Jacob Ott

Session: Three 
Dates: 1 August - 19 August 2022
Lecturer: Dr Jacob Ott and Dr Aneesh Raghunandan


Programme details

Key facts

Level: 100 level. Read more information on levels in our FAQs

Fees:  Please see Fees and payments

Lectures: 36 hours 

Classes: 18 hours

Assessment*: Two written examinations

Typical credit**: 3-4 credits (US) 7.5 ECTS points (EU)

*Assessment is optional

**You will need to check with your home institution

For more information on exams and credit, read Teaching and assessment


There are no prerequisites for this course

Programme structure

  • The uses of accounting information
  • The nature and function of accounting conventions
  • The preparation of the financial statements of business entities
  • The accounting treatment of assets and liabilities
  • Cash flow statements
  • Accounting for groups
  • Financial statement analysis

Course outcomes

  • The fundamental concepts of accounting, and the various accounting conventions that apply these concepts
  • The uses to which accounting information may be put
  • Different types of accounting entity
  • The generation of the data recorded in accounting systems
  • The recording of basic transactions within the double-entry system
  • The periodic measurement of profit by businesses
  • The preparation of annual financial statements (statement of financial position, income statement, statement of cash flows) for simple businesses
  • The various elements of financial statements: assets, liabilities and capital
  • The regulation of financial statements
  • Measures of profitability and liquidity, including cash flow statements
  • The analysis and interpretation of financial accounting information
  • Basic issues relating to the accounting statements of groups of companies.


The Department of Accounting continues to enjoy a reputation as one of the leading groups in the world for teaching and research on the economic, institutional and organisational aspects of accounting and financial management. The department strives to combine 'global appeal' with a distinctive 'European orientation' in terms of institutional knowledge and affiliations, as well as intellectual traditions.

The Department, along with the Departments of Finance and Management, was ranked as the UK leader for Business and Management Studies in the most recent National Research Assessment Exercise.

On this three week intensive programme, you will engage with and learn from full-time lecturers from the LSE’s accounting faculty.

Reading materials

P. Atrill & E. McLaney, Financial Accounting for Decision Makers, (8th Edition), Pearson (2015)

*A more detailed reading list will be supplied prior to the start of the programme

**Course content, faculty and dates may be subject to change without prior notice

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