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Module

ACC1053 : Introductory Quantitative Methods and Principles of Taxation

  • Offered for Year: 2021/22
  • Module Leader(s): Mrs Tracey Wilson
  • Owning School: Newcastle University Business School
  • Teaching Location: Newcastle City Campus
Semesters
Semester 1 Credit Value: 10
Semester 2 Credit Value: 10
ECTS Credits: 10.0

Aims

•       To introduce the mathematical and statistical techniques and concepts necessary in the field of Accounting and Finance.
•       To enable students to understand the general objectives of taxation
•       To study the principles of income tax, capital gains tax, corporation tax, VAT, national insurance and ethical issues in relation to taxation.
•       To prepare tax computations for individuals and companies.

Outline Of Syllabus

The mathematics/ statistical element will be taught throughout semesters one and two, the principles of tax element will be taught in semester two only.
Maths/stats:
•       Linear equations and non-linear equations (3 lecture sessions)
• Differentiation, partial differentiation and optimisation (4 lecture sessions)
• Descriptive statistics (4 lecture sessions)
• Basic probability and distribution (3 lecture sessions)
• Estimation and hypothesis testing (3 lecture sessions)
• Regression analysis (3 lecture sessions)
• Revision (2 lecture session)
Principles of Tax:
•       Obligations the system of taxes imposes on taxpayers and implications for taxpayers of non-compliance
•       UK ethical issues arising in the course of performing tax work
•       Income tax for individuals and trustees
•       Capital gains tax for individuals and trustees
•       National insurance
•       Corporation tax
•       VAT

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Scheduled Learning And Teaching ActivitiesLecture102:0020:00Maths lecture sessions - PIP
Scheduled Learning And Teaching ActivitiesLecture122:0024:00Principles of Tax Lectures (NN14 students only) - PIP
Guided Independent StudyAssessment preparation and completion131:0031:00Tax assessment preparation and completion
Guided Independent StudyAssessment preparation and completion145:0045:00Maths assessment preparation and completion
Scheduled Learning And Teaching ActivitiesSmall group teaching31:003:00Maths small groups - PIP
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:00Tax seminars - PIP
Scheduled Learning And Teaching ActivitiesWorkshops31:003:00Maths Workshops - PIP
Guided Independent StudyIndependent study168:0068:00Maths/tax independent study
Total200:00
Jointly Taught With
Code Title
ACC1012Professional Skills for Accounting and Finance
Teaching Rationale And Relationship

Mathematics and statistics (for both N400 and NN14 students) will be taught with lecture materials to introduce concepts and techniques, supported by workshop sessions where students will discuss and obtain feedback on their work on case studies designed to put into practice the material taught in lectures and have an opportunity to practice and obtain feedback on their attempts at in-class computer-based assignments. Students will also be set weekly practice questions with solutions that develop their ability to apply the key concepts of the module.

Principles of Tax (NN14 only) will be taught in the cohort group which allows for both formal lecture material and question practice.

NB- only the Maths and Stats elements will be jointly taught with the ACC1012 Maths and Stats elements.

Assessment Methods

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

Exams
Description Length Semester When Set Percentage Comment
Written Examination1202A50Paired with maths exam for ACC1012
Written Examination902A30Principles of Tax exam
Exam Pairings
Module Code Module Title Semester Comment
ACC1012Professional Skills for Accounting and Finance2Only the 50% Maths and Stats exam is paired with the maths and stats exam on ACC1012.
Other Assessment
Description Semester When Set Percentage Comment
Prof skill assessmnt1M10CBAs and case studies for a total of 10% of the module mark.
Prof skill assessmnt2M10CBAs, case study and Minitab assignment for a total of 10% of the module mark.
Formative Assessments
Description Semester When Set Comment
Prob solv exercises2MQ and A homework set and self marked (Tax element)
Written Examination2MTax mock exam
Prob solv exercises1MFor maths - students are able to sit practice mode CBAs and will be provided with practice questions.
Prob solv exercises2MFor maths - students are able to sit practice mode CBAs and will be provided with practice questions.
Assessment Rationale And Relationship

The formal examination and individual assignment will test the mathematics and statistical concepts and techniques introduced in the module. The principles of tax examination will assess knowledge and understanding as well as relevant cognitive and professional skills. Its use also meets ICAEW’s Certificate Level examination requirements.

Only the 50% Maths and Stats exam is paired with the maths and stats exam on ACC1012.

Where necessary the examinations/assessments can be converted into online 24 hour take home examinations/assessments in line with the 2020/21 approach.

Reading Lists

Timetable