| Module Identifier |
AC11020 |
| Module Title |
FINANCIAL ACCOUNTING FOR SPECIALISTS |
| Academic Year |
2006/2007 |
| Co-ordinator |
Ms Megan R Williams |
| Semester |
Semester 2 (Taught over 2 semesters) |
| Mutually Exclusive |
AC10120 |
| Course delivery |
Lecture | 20 hours per semester |
| |
Seminars / Tutorials | 6 hours per semester |
| Assessment |
| Assessment Type | Assessment Length/Details | Proportion |
|---|
| Semester Exam | 3 Hours | 70% |
| Semester Assessment | Class Test - 20%; Coursework 10% | 30% |
| Supplementary Exam | 3 Hours | 100% |
|
Learning outcomes
Having followed this module a student should be able to:
-
describe and explain the conventions which underpin financial accounting
-
describe, compare and contrast the different forms of UK business organisations
-
explain, apply and illustrate and rules by which assets, liabilities, income and expense are determined for insertion into financial accounts
-
describe and evaluate the financial recording procedures followed by organisations
-
interpret a trial balance and thence prepare a set of accounting statements
-
prepare partnership accounts
-
describe, explain, apply, interpret and criticise the common simple methods of financial statement analysis
-
use accounting computer software to record business transactions
Aims
This module aims to give students a thorough grasp of the basics of financial reporting (context, purposes, regulatory framework) and build towards a proficiency in the recording of business transactions, and the preparation and interpretation of the primary financial statements (profit and loss account, balance sheet and cash flow statement). It also aims to build proficiency in the use of accounting computer software.
The module also aims to assist the development of a variety of personal transferable skills by encouraging students to:
-
identify and distil key features covered by lectures, tutorials and recommended readings
-
develop basic information accessing and research skills; discriminate between relevant and irrelevant information for the purposes of decision making; analyse data, apply judgement and solve problems
-
communicate effectively both orally and in writing; participate actively in tutorials either by leading discussions or responding to issues raised; and work under pressure and meet deadlines
Brief description
This module provides a thorough grounding in the context, purposes and practices of financial reporting, and an intorduction to the interpretation of financial accounts.
NOTE
This is a compulsory module for first year BScEcon Accounting and Finance (single, joint, major and minor) and Business Finance students.
For a student to progress to Part 2 and to remain on a single, joint, major or minor Accounting and Finance degree scheme AC11020, AC10710 and AC10210 MUST be passed with a mark of 40 or better for each module.
Content
-
context and purposes of financial reporting in the UK and internationally
-
regulatory framework and standards for financial reporting
-
accounting concepts, policies and treatments
-
recording business transactions
-
preparation of financial staments (profit and loss account, balance sheet and cash flow statement)
-
interpretation and analyis of financial statements
-
use of accounting software
Reading Lists
Books
** Recommended Text
Attrill, P and McLaney, E (2006) Accounting an Introduction
3rd edition. Prentice Hall
Bebbington, J., Gray, R. and Laughlin, R. (2001) Financial Accounting Practice and Principles
3rd edition. Thomson Learning
Britton, A and Waterson, C (2006) Financial Accounting
4th edition,. Prentice Hall
Thomas, A (2002) Introduction to Financial Accounting
4th edition. McGraw-Hill
Weetman, P. (2006) Financial Accounting: An Introduction
4th edition. Prentice Hall
** Supplementary Text
Davies, T and Boczko, T (2005) Financial Accounting an Introduction
McGraw
Gowthorpe, Catherine (2005) Business Accounting and Finance for Non-specialists
2nd edition. Thomson
Notes
This module is at CQFW Level 4