Module Descriptors
FINANCIAL & LEGAL ASPECTS OF BUSINESS
ACCT40143
Key Facts
School of Justice, Security and Sustainability
Level 4
30 credits
Contact
Leader: Alison Maguire
Hours of Study
Scheduled Learning and Teaching Activities: 70
Independent Study Hours: 230
Total Learning Hours: 300
Assessment
  • MULTI-CHOICE TEST weighted at 50%
  • EXAMINATION - UNSEEN IN EXAMINATION CONDITIONS weighted at 50%
Module Details
Module Additional Assessment Details
Period 1
1 x end of semester 1 exam (weighting 50%) will assess learning outcomes 1, & 2

Period 2
1 x 1 hour end of semester exam (weighted 50% will assess learning outcomes 3 & 4.

Module Texts
Kelly, D., Hayward, R.,Hammer, R.,& Hendy, J. (2011) Business Law 6th Edn. Routledge,
Marson, J., (2011) Business Law, OUP, Oxford
Evans, D., (2011) A student's guide to Corporate Finance and Financial Management, Kaplan Publishing

Module Resources
A range of resources, including, University library and IT facilities, the Internet, journals and databases
Module Indicative Content
The first 12 weeks of the module will commence with a broad introduction to the legal environment within which business operates.

Period 1
Issues covered include:

The fundamental distinction between civil and criminal law.
Analysis of the main sources of law operating within the English legal system.
The formation of business contracts and obligations arising.
The law relating to the tort of Negligence and the implications for business organisations.
The civil justice process with specific emphasis on the utilisation of the small claims track to protect business interests.
Sole traders and partnerships the legal implications.
Within the context of various types of trading and manufacturing businesses, including sole traders and partnerships, which operate within the legal framework introduced in period 1, the second 12 weeks consist of a broad introduction to the alternative sources of finance, techniques used to manage the financial resources and financial analysis and interpretation of business performance.

Period 2

This element of the module will cover the fundamental principles and practices of financial accounting and will include:-

The role of the accounting function in Business management and control
Using accounting records to prepare the following statements:
Trial balance
Trading and profit and loss account
Balance sheet
Cash Flow
The interpretation of accounts using appropriate financial techniques will also be included plus an introduction to financial resources available to start and grow an organisation.

Module Learning Strategies
In period 1 there will be whole group sessions - a series of participatory lectures will disseminate basic knowledge and understanding as the foundation for a structured programme of tutorial sessions. Lectures - 2 hours per week x 12 weeks = 24 hours.

In addition to the lectures in period 1 there will be tutorials: - 1hour per week x 10 weeks = 10 hours.

Period 2 is delivered in workshops in which case studies are used to facilitate the understanding of the topics. Workshops - 2 hours per week x 12 weeks = 24 hours.

In addition to the workshops in period 2 there will be tutorials: - 1hour per week x 12 weeks = 12 hours.

Tutorial sessions will examine particular aspects of the Financial and Legal Aspects of Business in which students will enjoy a blend of learning opportunities thereby allowing them to engage positively with the subject area and each other.
Typical learning techniques include: student led tutorials / presentation of written work and interactive exercises.
Students engaged on part-time study will generally enjoy different contact hours which reflect their status and/or other award requirements.

Directed study and independent learning = 230 hours - principally this will consist of preparation for work to be undertaken in seminars and research (individual & collaborative). Directed Study will involve the utilisation of information technology including the LEB web pages and use of the Westlaw database which enable interaction with relevant material at a pace and time, convenient to the user. Students will be provided with general guidance in the module study guide, and receive specific guidance and training where needed. All students studying this module will also be required to submit evidence on a regular basis demonstrating an ability to monitor and reflect upon their learning experience.