Business Law and Practice and Solicitors Accounts

Module Identifier: LC31420
Module Title: Business Law and Practice and Solicitors Accounts
Academic Year: 2027/2028
Semester: Semester 1
Co-ordinator: Ms Caroline Whitby
Reading List: View on Aspire
Pre-Requisite: CT10120 or CT10420 or CT20120 or LC10120 or LC10420 or LC20120
Co-Requisite: If intending to prepare for the SQE1 examination students should also pursue: LC31320: LC31520: LC31620: LC31720: LC31820
Other Staff: Miss Tracey Kimberley; Mrs Lauren Harvey; Dr Angharad James

Assessment

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

Learning Outcomes

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

Apply knowledge of business organisations, rules and procedures to advise on a business start up to meet a business’s objectives
Apply the rules and procedures necessary to ensure proper governance of a business and its compliance with statutory and other requirements
Apply the rules for the calculation, distribution and taxation of profits to meet a business’s objectives and ensure regulatory compliance
Apply understanding of business accounting to advise a business
Apply understanding of business finance to meet a business’s objectives
Apply understanding of the law and practice relating to business insolvency to meet a client’s objectives
Apply understanding of solicitors accounts to transactions involving client money and money belonging to the authorised body.
Apply understanding of solicitors accounts to the preparation of ledgers and bank accounts; and to the payment of interest.
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