Module Descriptors
SOLICITORS ACCOUNTS
LAWS70674
Key Facts
Health, Education, Policing and Sciences
Level 7
1 credits
Contact
Leader: Giles Gater
Email: giles.gater@staffs.ac.uk
Hours of Study
Scheduled Learning and Teaching Activities:
Independent Study Hours:
Total Learning Hours:
Pattern of Delivery
- Occurrence B, Stoke Campus, PG Semester 1 to PG Semester 2
Sites
- Stoke Campus
Assessment
- EXAMINATION - UNSEEN IN EXAMINATION CONDITIONS weighted at 100%
Module Details
Module Special Admissions Requirements
None
Module Texts
OUP Solicitors' Accounts Manual (annually updated)
Module Resources
Lecture and workshop materials. Blackboard
Module Additional Assessment Details
Assessed in one 2 hour written assessment
Module Learning Strategies
Solicitors' accounts is taught within 5 x one hour lecture sessions and 3 x two hour workshop sessions. Additionally, for students following a blended-learning mode of delivery there will be on-line activities.
Module Indicative Content
ELEMENT 1: INTRODUCTION TO ACCOUNTING TERMS AND PRINCIPLES
1. double entry system,
2. trial balances
ELEMENT 2: THE SOLICITORS' ACCOUNTS RULES
1. Clients' money and accounts, withdrawals, transfers and trust money.
2. books of account, Solicitors' Accounts Rules and the SRA's powers
ELEMENT 3: SOLICITORS' ACCOUNTS
1. Client and office ledgers
2. Client account and client ledger accounts
3. Accounting entries
4. Transfers and withdrawals
5. Disbursements
ELEMENT 4: THE TREATMENT OF VAT AND INTEREST ON CLIENT MONEY
1. VAT account
2. VAT on expenses.
3. VAT on fees
4. Bad debts and VAT
5. VAT and disbursements
6. deposit interest
ELEMENT 5: THE CONVEYANCING TRANSACTION AND COMPLETION STATEMENTS
1. Disbursements
2. Deposit
3. Mortgage
4. Completion monies transferred
5. The discharge of the mortgage
6. Completion statements
1. double entry system,
2. trial balances
ELEMENT 2: THE SOLICITORS' ACCOUNTS RULES
1. Clients' money and accounts, withdrawals, transfers and trust money.
2. books of account, Solicitors' Accounts Rules and the SRA's powers
ELEMENT 3: SOLICITORS' ACCOUNTS
1. Client and office ledgers
2. Client account and client ledger accounts
3. Accounting entries
4. Transfers and withdrawals
5. Disbursements
ELEMENT 4: THE TREATMENT OF VAT AND INTEREST ON CLIENT MONEY
1. VAT account
2. VAT on expenses.
3. VAT on fees
4. Bad debts and VAT
5. VAT and disbursements
6. deposit interest
ELEMENT 5: THE CONVEYANCING TRANSACTION AND COMPLETION STATEMENTS
1. Disbursements
2. Deposit
3. Mortgage
4. Completion monies transferred
5. The discharge of the mortgage
6. Completion statements
Web Descriptor
An essential part of every day Solicitors’ practice, students learn accounting methods, preparation of financial statements and the importance of record keeping. Reference is made to a realistic property transaction so that there is real world relevance to this often misrepresented topic.