1. Understand the language of international financial accounting in line with international accounting standards board (IASB), including the qualitative characteristics of financial information
Knowledge and Understanding
Learning

2. Apply the double entry system to the recording of a variety of transactions and events (T accounts and journal entries)
Application
Knowledge and Understanding
Learning

3. Process common transactions and a range of adjustments using the double entry system to produce a trial balance, statement of comprehensive income and statement of financial position for a range of business structures.
Application
Knowledge and Understanding
Learning

4. Reflect the importance of complete and accurate books of prime entry and the relationship between these and fraud/error free accounting ledgers.
Knowledge and Understanding
Learning
Reflection

5. Compare and report the performance of a company using ratio analysis
Application
Communication
Knowledge and Understanding
Learning

An online exam weighted at 10% and an online exam weighted at 20%. A 2-hour paper exam weighted at 70%.

Formative assessment will be provided throughout the module. Digital tools will be used to enhance learning.

Assessment 1 - This is in two parts and will take the form of two progressive online tests to be undertaken in the first semester or early in the second semester. The first assessment is to encourage early engagement in the module.

i) Online assessment (30 mins)
Week 6 (or close)
20 short online questions
Computational and non-computational
LOs 1 & 2

ii) Online assessment (1 hour)
Week 13 (or close)
20 short online questions
Computational and non-computational
LO’s 1, 2, & 3

The second assessment is to test the skills and knowledge acquired in the first semester

Assessment 2
Examination (2 hours)
LOs 1,2,3,4 & 5

You will learn how to record the accounting entries, record entries to t-accounts, prepare trial balance, prepare statement of financial positions and statement of Profit and Loss.

This module introduces the fundamentals of financial accounting incorporating international terminology, accounting standards and accounting regulations.

You will develop skills in processing a wide range of accounting transactions, adjustments and corrections and action these using the process of duality.

You will study the need for, and the methods of calculating non-current asset depreciation, bad debts and provision for doubtful debts.

The importance of qualitative characteristics will be studied and applied to the preparation of true and fair financial statements.

Supporting calculations will include bank reconciliation, VAT returns and control accounts.

Understanding and appreciation of the importance and value of accurate and complete financial statements will be examined further with the interpretation of financial statements using of a range of accounting ratios.

When studied as part of the BA (Hons) Accounting and Finance, Two Year BA (Hons) Accounting and Finance, the successful completion of this module may lead to an exemption from a professional accountancy qualification - for up to date information on accreditation and exemptions please contact the Course Leader.

Frank Wood's Business Accounting Volume 1; 14th Edition; Alan Sangster, Frank Wood
May 2018, Paperback, 820 pages; ISBN13: 9781292208626; ISBN10: 1292208627

Financial Accounting; An Introduction; 7th Edition; Pauline Weetman; Nov 2015, Paperback, 540 pages
ISBN13: 9781292086699; ISBN10: 1292086696

Financial Accounting and Reporting ; 18th Edition; Barry Elliott; Mar 2017, Paperback, 904 pages
ISBN13: 9781292162409; ISBN10: 1292162406

Module study guide and handbook
The University Library and Learning Resources - books and academic journals
The module VLE
Learning support materials and booklets
Internet
Microsoft Office Excel
Microsoft Office PowerPoint
Padlet and other digital feedback mechanisms
Computer based quizzes

You will learn how to record the accounting entries, record entries to t-accounts, prepare trial balance, prepare statement of financial positions and statement of Profit and Loss.

The learning strategy for this module is based around students committing a total of 300 hours of activities
towards achieving the learning outcomes. These will be split between 72 hours of direct contact with a tutor and 228 hours of directed, guided and self-study, together with preparation for and completion of the assessment tasks. Learning support material will be provided for the module.
The module will draw upon a mixture of activities including lectures, web-based activities, case study analysis, relevant videos and in-class discussions, individual and group problem solving and self-directed learning.