AAT – Business Awareness

This course introduces students to the fundamentals of business, its environment, and how this influence organizational structure, the accounting function, and business performance. Students will explore various business types and the roles and responsibilities of key stakeholders. The course covers both micro- and macro-economic impacts on business decisions and performance, including essential business law for financial reporting.

Students will also delve into risk management, learning about different types of risks and how to manage them effectively. The importance of professional ethics and ethical management is emphasized, particularly how the finance function collaborates with other business areas to boost efficiency. Students will learn and apply the ethical code for accountants, analyze ethical dilemmas, and understand the principles underlying ethical behavior, including anti-money laundering regulations.

The role of technology in transforming the accounting profession is a key focus. Students will examine how emerging technologies like blockchain, artificial intelligence (AI), and cloud accounting affect data analysis and accounting processes. They will also develop skills in data visualization and interpretation to enhance business decision-making.

Learning Outcomes:
On successful completion of this subject, you should be able to:

1. Understand business types, structures and governance, and the legal framework in which they operate
2. Understand the impact of the external and internal environment on businesses, their performance and decisions
3. Understand how businesses and accountants comply with principles of professional ethics
4. Understand the impact of new technologies in accounting and the risks associated with data security
5. Communicate information to stakeholders