Semester 1 - The individual 1000 word assignment weighted at 30% will assess Learning Outcomes 1, 2 and 3. It requires the student to demonstrate understanding and application of basic double entry book-keeping and the preparation and interpretation of financial statements.
Semester 2 - The 2 hour examination, weighted at 70% assesses Learning Outcomes 4, 5 and 6. No more than 20% of the marks of this examination will be MCQs.

This module introduces you to the regulatory framework of accounting, the role of financial accounts, the users of financial information and the relevance of financial statements to them.
You will study the double entry system in relation to fixed and current assets, current liabilities and long term liabilities., the elements of capital, income and expenditure, receipts and payments, profit and loss, reserves and cash flows.
Basic accounting concepts and principles are reviewed. You will study the going concern, matching, prudence, consistency, materiality an dtrue and fair concepts. You will also learn how to record transactions using double entry book-keeping, produce trial balances, and make adjustments for accruals, prepayments, debtor accounts, depreciation and bad debts. This leads on to the preparation of profit and loss accounts and balance sheets for sole traders, partnerships and limited companies.
The control techniques associated with maintaining accounts are also studied. This comprises control accounts and bank reconciliations.
The module concludes with simple interpretation of accounts, utilising profitability, efficiency and liquidity ratios.

1. UNDERSTAND THE LANGUAGE AND CONTEXT OF FINANCIAL ACCOUNTING, FUNDAMENTAL CONCEPTS AND PRINCIPLES
KNOWLEDGE & UNDERSTANDING

2. APPLY THE DOUBLE ENTRY SYSTEM FOR ASSETS, LIABILITIES AND CAPITAL
APPLICATION

3. PROCESS COMMON TRANSACTIONS AND ADJUSTMENTS USING THE DOUBLE ENTRY SYSTEM AND PRODUCE A SET OF ACCOUNTS FOR A SOLE TRADER
APPLICATION

4. UNDERSTAND THE BASIC RELATIONSHIPS BETWEEN BOOKS OF PRIME ENTRY AND LEDGERS AND UTILISE SUITABLE CONTROLS TO PREVENT FRAUD
KNOWLEDGE & UNDERSTANDING
PROBLEM SOLVING

48 hours of formal lectures/large group activity
24 hours of tutorial
228 hours of directed independent study
The lecture/tutorial pattern may vary with some activities taking place in medium sized workshop groups.
There will be formative assessment to monitor progress during the module, in addition to the summative assessments.

Study pack
The University Library and learning resources including online databases
Electronic data such as EBSCO
The module website

FOR INTERNATIONAL COLLABORATIVE PARTNERS ONLY

Berry A & Jarius R (2006) Accounting in a Business Context, 4th edition. Thompson
Thomas A (2003) An Introduction to Financial Accounting. McGraw Hill
Wood F & Sangster A (2008) Business Accounting, 11th edition (IFRS version) Pitman. ISBN 9780273712121