Gwybodaeth Modiwlau

Module Identifier
LC31420
Module Title
Business Law and Practice and Solicitors Accounts
Academic Year
2023/2024
Co-ordinator
Semester
Semester 1
Pre-Requisite
Co-Requisite
If intending to prepare for the SQE1 examination students should also pursue: LC31320: LC31520: LC31620: LC31720: LC31820
Reading List
Other Staff

Course Delivery

 

Assessment

Assessment Type Assessment length / details Proportion
Semester Assessment Problem-solving written answers  25%
Semester Exam 2 Hours   Online Examination  In person online examination in computer room  75%
Supplementary Assessment Problem-solving written answers  25%
Supplementary Exam 2 Hours   Online Examination  In person online examination in computer room  75%

Learning Outcomes

On successful completion of this module students should be able to:

1. Apply knowledge of business organisations, rules and procedures to advise on a business start up to meet a business’s objectives

2. Apply the rules and procedures necessary to ensure proper governance of a business and its compliance with statutory and other requirements

3. Apply the rules for the calculation, distribution and taxation of profits to meet a business’s objectives and ensure regulatory compliance

4. Apply understanding of business accounting to advise a business

5. Apply understanding of business finance to meet a business’s objectives

6. Apply understanding of the law and practice relating to business insolvency to meet a client’s objectives

7. Apply understanding of solicitors accounts to transations involving client money and money belonging to the authorised body.

8. Apply understanding of solicitors acounts to the preparation of ledgers and bank accounts; and to the payment of interest.

9. Apply understanding of solicitors accounts to accounting entries required; bills; obtaining and delivery of accountants' reports; obligations regarding record-keeping.

Brief description

This module covers the core legal principles and practical rules associated with setting up, operating and termination of business vehicles. The module also covers financing a business and solicitors' accounts.

Students are expected to draw on and apply knowledge from the following areas of law and practice:

Business organisations, rules and procedures.

Taxation of business organisations.

Solicitors' accounts.

Content

​​1. Starting a new business through the vehicle of a company, partnership or as a sole trader.

2. The management of a business and company decision making to ensure compliance with statutory and other legal requirements.

3. The interests, rights, obligations and powers of stakeholders in a business.

4. Financing a business.

5. The calculation, distribution and taxation of a business and its profits.

6. The termination of a solvent business, corporate insolvency and personal bankruptcy.

7. Solicitors Accounts: Transactions involving client money and money belonging to the authorised body.

8. Solicitors Accounts: Operation of ledgers and bank accounts; the payment of interest.

9. Solicitors Accounts: Accounting entries required; bills; obtaining and delivery of accountants’ reports; obligations regarding record-keeping.

Module Skills

Skills Type Skills details
Application of Number Accounting skills
Communication Central to all interactions on this module (core to the professional and ethical elements of the competency requirements)
Improving own Learning and Performance Students will be presented with new and novel scenarios regularly in order to develop their ability to adapt the application of their legal knowledge. Feedback and feedforward sessions reflecting on performance in set tasks.
Information Technology Computer-based assessment. Legal research via electronic databases.
Personal Development and Career planning Practical and client-facing aspects of the module
Problem solving Scenarios and case studies central to module delivery with students developing solutions.
Research skills Central to problem-solving and decision making in the context of legal analysis.
Subject Specific Skills Knowledge of business law and practice and solicitors' accounts
Team work Many of the classroom exercises will require teamwork

Notes

This module is at CQFW Level 6