INU1531 : Introduction to Financial Accounting (for International Year One - January start)
- Offered for Year: 2025/26
- Available to incoming Study Abroad and Exchange students
- Module Leader(s): Dr Michael Cheng
- Lecturer: Mr Alexander Fender, Mrs Ayah Sarhan
- Owning School: INTO Newcastle University
- Teaching Location: Newcastle City Campus
Semesters
Your programme is made up of credits, the total differs on programme to programme.
| Semester 1 Credit Value: | 10 |
| Semester 2 Credit Value: | 10 |
| ECTS Credits: | 10.0 |
| European Credit Transfer System | |
Pre-requisite
Modules you must have done previously to study this module
Pre Requisite Comment
N/A
Co-Requisite
Modules you need to take at the same time
Co Requisite Comment
N/A
Aims
To provide a basic foundation of knowledge and skill in financial accounting in order to
1. Record business transactions using double-entry book-keeping.
2. Define financial accounting concepts.
3. Identify characteristics of different types of business entity.
4. Apply financial accounting concepts to transactions within the framework of financial reporting.
5. Report on the financial performance and position of different types of business entities.
6. Interpret financial statements of businesses.
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.
- Accounting for sole traders and companies.
Teaching Methods
Teaching Activities
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| Guided Independent Study | Assessment preparation and completion | 1 | 74:00 | 74:00 | Preparation work for summative assessment 2 |
| Scheduled Learning And Teaching Activities | Lecture | 18 | 1:00 | 18:00 | Lectures are used to introduce material to students and explain concepts. |
| Scheduled Learning And Teaching Activities | Lecture | 8 | 1:00 | 8:00 | Formative Assessment |
| Scheduled Learning And Teaching Activities | Lecture | 1 | 20:00 | 20:00 | Preparation work for summative assessment 1 |
| Scheduled Learning And Teaching Activities | Small group teaching | 40 | 1:00 | 40:00 | Small group teaching sessions will be used to examine, explore and develop topics. |
| Scheduled Learning And Teaching Activities | Drop-in/surgery | 4 | 1:00 | 4:00 | Study clinics are used to deal with academic issues which may be causing students problems and/or students who need extra support in preparing for their assessments. |
| Guided Independent Study | Independent study | 1 | 36:00 | 36:00 | e.g. reading, exercises for practice. |
| Total | 200:00 |
Teaching Rationale And Relationship
Lectures are used to introduce material to students and explain concepts.
Small group teaching sessions will be used to examine, explore and develop topics covered by the programme of in person lectures as well as guided independent study to develop subject specific skills. Students are expected to interact and discuss issues relating to the computational aspects of accounting. Sessions will also develop interpersonal communication skills and students should be prepared to discuss their work. Problem solving and numeracy skills are further developed as part of the assessed work requirements. Learning is supported by this module's core text for essential reading as well as the virtual learning environment's provision of additional questions with supporting suggested solutions.
Study clinics are used to deal with academic issues which may be causing students problems and/or students who need extra support in preparing for their assessments.
A mock (practice) exam is held at the end of each semester to address any gaps in understanding that would require a targeted intervention to support students. Weekly formative assessments also serve as check points for checking students' understanding and engagement with the material.
Assessment Methods
The format of resits will be determined by the Board of Examiners
Exams
| Description | Length | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|---|
| PC Examination | 60 | 1 | A | 20 | Invigilated present in person exam sat on campus. It includes: MCQs, calculation questions, completing financial statements with a short analysis. |
| PC Examination | 120 | 2 | A | 80 | Invigilated present in person exam sat on campus. It includes: MCQs, calculation questions, completing financial statements with a short analysis. |
Formative Assessments
Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.
| Description | Semester | When Set | Comment |
|---|---|---|---|
| Written Examination | 1 | M | Mock exam is held at the end of semester 1 before the final exam where extra support is provided for students who require assistance with specific topics/skills. |
Assessment Rationale And Relationship
The course is designed to provide an understanding, at an introductory level, of the business context of accounting, financial reporting and related issues. Topics are covered in person and are supported by small group sessions, guided reading and activities intended to provide students with practice in solving related numerical problems and to provide an understanding of the underlying concepts.
The keys skills developed through interaction in small group sessions include communication and numeracy skills. Two mock exams are used as formative assessment in order to prepare them for students for their 2 summative assessments.
The summative assessment (worth 20% of the overall module mark) at the end of semester 1 encourages students to gain a firm foundation of the underlying principles of double entry bookkeeping. The examination at the end of semester 2 (worth 80% of the overall module mark) assesses the students' intended knowledge and skills outcomes as well as problem solving and numeracy.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- INU1531's Timetable