Undergraduate

modules

Modules

ACC1010 : Introduction to Financial Accounting

Semesters
Semester 1 Credit Value: 10
Semester 2 Credit Value: 10
ECTS Credits: 10.0

Aims

To help students acquire a basic foundation of knowledge and skill in financial accounting via an
1.       Understanding at an introductory level, of the academic discipline of accounting within its environmental context;
2.       Understanding design and use of elementary accounting reporting systems;
3.       Understanding the regulatory framework of financial reporting;
4.       Appreciation of the existence of the conceptual framework underlying financial accounting;
5.       Ability to apply recognised accounting reporting practices to external financial reporting.

Outline Of Syllabus

•       The basic structure of accounting and double-entry book keeping
•       An introduction to the regulatory framework of accounting, with particular reference to International Financial Reporting Standards for Company reporting
•       Accounting for assets and liabilities, including an introduction to VAT
•       Accounting for sole traders, partnerships and companies, including the preparation and interpretation of financial statements.
•       Preparation of simple statements of cash flows
•       Use of Control accounts for Payroll, Salary ledger and Purchase ledger; Bank reconciliation.
•       The need for accounting codes.

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion601:0060:00N/A
Scheduled Learning And Teaching ActivitiesLecture281:0028:00N/A
Guided Independent StudyDirected research and reading501:0050:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching101:0010:00N/A
Scheduled Learning And Teaching ActivitiesDrop-in/surgery21:002:00Help sessions
Guided Independent StudyIndependent study501:0050:00N/A
Total200:00
Jointly Taught With
Code Title
NBS8147Fundamentals of Financial Accounting
Teaching Rationale And Relationship

Workshops will be used to examine, explore and develop topics covered by the programme of lectures as well as guided reading and to develop subject specific skills.
In workshops, students are expected to discuss issues relating to the design and use of accounting information as well as gaining experience in the computational aspects of accounting.
Interpersonal communication skills are developed through information seminar work and presentation of students' work in these workshops.
Problem solving and numeracy skills are further developed as part of the assessed work requirements.
Learning is supported by the provision of an external CBL programme as well as Blackboard.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Exams
Description Length Semester When Set Percentage Comment
Written Examination601A25N/A
Written Examination1202A75N/A
Exam Pairings
Module Code Module Title Semester Comment
NBS8147Fundamentals of Financial Accounting1Exam pairings apply to sem 1 and 2
LAC1010Introduction to Financial Accounting1Exam pairings apply to sem 1 and 2
Assessment Rationale And Relationship

The course is designed to give an understanding at an introductory level of the business context of accounting, financial reporting and related issues. Topics are covered in lectures and essential reading, supported by workshops intended to give the students practice in solving related numerical problems and to provide an understanding of the underlying concepts.

The keys skills developed are oral communication in workshops, written communication and numeracy through the module examinations and the ability for independent management of learning and time.

Reading Lists

Timetable