Description
Introduction to Accounting and Finance
Module title | Introduction to Accounting and Finance |
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Module code | INT0006 |
Academic year | 2018/9 |
Credits | 20 |
Module staff | Emdad Aziz (Lecturer) Emdad Aziz (Convenor) Emdad Aziz (Convenor) |
Duration: Term | 1 | 2 | 3 |
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Duration: Weeks | 11 | 10 | 11 |
Number students taking module (anticipated) | 85 |
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Description - summary of the module content
Module description
Accounting, which is concerned with collecting, analysing and communicating financial information, is a key function in any organisation as it informs decision making. All business managers should have a working knowledge of financial reporting and an understanding of the basic techniques of management accounting. This module, which introduces students to the key financial statements and how to complete and interpret them, will cover concepts that enable students to understand and evaluate the financial performance and position of a business.
For this module there is neither a requirement for prior knowledge of accounting and finance, nor pre-requisite or co-requisites.
Module aims - intentions of the module
The aim of the module is to give the student an introduction to financial and management accounting. It outlines some of the basic accounting concepts and procedures used in the preparation of financial statements as well as some of those used in management accounting.
Financial terminology in English will be presented and practised through listening, reading, speaking and writing.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Demonstrate a basic awareness of the fundamental concepts and principles of accounting in the preparation of financial and management accounts
- 2. Produce simple financial statements for a business entity
- 3. Use appropriate budgeting and costing techniques to analyse a business situation and make a reasoned decision
- 4. Use ratios to analyse and interpret financial information
- 5. Demonstrate a knowledge of basic financial terminology when analysing a business situation
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 6. with guidance, analyse, synthesise and present appropriate information to assist with decision making
- 7. evaluate different approaches and procedures and apply them to practical situations
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 8. communicate effectively in the written and spoken form
Syllabus plan
Syllabus plan
- Introduction to accounting
- Introduction to book keeping
- Preparation of financial statements using accounting conventions
- Analysing and interpreting financial reports
- Examining different costing techniques
- Budgeting
- Capital investment appraisal
- Short-term and long-term financing
- Understanding the limitations of financial techniques
Learning and teaching
Learning activities and teaching methods (given in hours of study time)
Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
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60 | 140 | 0 |
Details of learning activities and teaching methods
Category | Hours of study time | Description |
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Classes | 60 | Input of concepts plus in class activities (individual, paired and group work) |
Guided independent study | 140 | ELE resources consisting of concept & language resources, news articles |
Assessment
Formative assessment
Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
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Class tests and activities | 1 or 2 hours | 1-8 | Written comments at the following tutorial session |
Individual report | 1200 words | 1-8 | Immediate verbal comments from tutor and peers after delivery |
Summative assessment (% of credit)
Coursework | Written exams | Practical exams |
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30 | 70 | 0 |
Details of summative assessment
Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
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Individual report | 30 | 1200 words | 1,2,4,5,6,7,8 | Marks, examiner report, individual feedback on demand |
Final exam | 70 | 2 hours | 1,3,5,6,7,8 | Marks |
Re-assessment
Details of re-assessment (where required by referral or deferral)
Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
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Individual report | 1200 words | 1,2,4,5,6,7,8 | Sept entry (Cohort 1): with Jan entry (Cohort 2) Cohort 2: before the Exam Board |
Final Exam | Exam | 1,3,5,6,7,8 | Cohort 1: with Cohort 2 Cohort 2: before the Exam Board |
Re-assessment notes
Deferrals
Mid-term Exam: September entry (C1) will sit this exam with January entry (C2)
Mid-term Exam: Cohort 2 will sit this exam in the resit period before the Cohort 2 Exam Board
Final Exam: C1 - will sit this exam with January entry (Cohort 2)
Final Exam: C2 - will sit this exam in the resit period before the Cohort 2 Exam Board
Deferred exams will not be capped. Where only the final exam is deferred, marks for the mid-term exam will be included in the module grade.
Referrals
Where a student has achieved a mark of less than 40% for the module, they will take a Referral Exam paper (2 hours) covering all learning outcomes. The exam will be taken in the resit period before the Exam Board and will constitute 100% of the module grade. The grade for the referral exam will be capped at 40%.
Resources
Indicative learning resources - Basic reading
Basic reading:
Accounting: A Smart Approach (3rd Edition)
Carey, Knowles & Towers Clark (OUP)
ELE
Web based and electronic resources
Module has an active ELE page
Indicative learning resources - Other resources
Company annual reports
Class hand-outs and activities
Credit value | 20 |
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Module ECTS | 10 |
NQF level (module) | 3 |
Available as distance learning? | Yes |
Origin date | 01/09/2017 |
Last revision date | 31/08/2018 |