Financial Accounting - ACCT3000

Overview

This is an introductory module to introduce students to the role and evolution of accounting
Topics to be covered may include: single entry accounting; double entry bookkeeping; financial reporting conventions; recording transactions and adjusting entries; principal financial statements; institutional requirements; auditing; monetary items; purchases and sales; bad and doubtful debts; inventory valuation; non-current assets and depreciation methods; liabilities; sole traders and clubs, partnerships, companies; capital structures; cash flow statements; interpretation of accounts through ratio analysis; problems of, and alternatives to, historical cost accounting.

Details

Contact hours

Total contact hours: 65
Private study hours: 235
Total study hours: 300

Method of assessment

Main assessment methods:
Exam, 3 hours (70%)
Essay of 1000 words (10%)
VLE Test 1 (10%)
VLE Test 2 (10%)

Reassessment method:
100% examination

Indicative reading

Thomas, A & Ward, A. (2019) Introduction to Financial Accounting, London: McGraw Hill Education, ISBN: 9781526803009

Kaplan Publishing (2020) ACCA Financial Accounting (FA), Kaplan Publishing, Wokingham, Berks, ISBN: 9781787406131

Benedict, A & Elliot, B (2011) Financial Accounting an Introduction, Harlow: Prentice Hall, ISBN: 9780273688853

Learning outcomes

The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- identify the professional and regulatory environments within which financial statements are prepared.
- define the conceptual framework underpinning the preparation of financial statements.
- manipulate financial data and analyse financial performance.
- record and summarise economic events through double entry bookkeeping and prepare financial statements.
The intended generic learning outcomes.
On successfully completing the module students will be able to:
- exercise independent and self-managed learning.
- communicate effectively to a variety of audiences and/or using a variety of methods.
- critically evaluate arguments and evidence.
- retrieve information from a variety of sources.