Accounting

Module description

Financial literacy is an important skill in the business world.  It helps you to understand how you can support the mission of any organisation and how you can add (or destroy) value.  Whether you are an employee, a small business owner or in management of a larger business, understanding the principles of accounting helps you to understand the financial operations of the organisation.

The module incorporates Colour Accounting™, a new way of presenting financial information using colour and diagrams.  At the heart of the system is a diagram called the BaSIS Framework™ that is a holistic and graphical view of a balance sheet and income statement.  It is highly creative and involves colour, movement, language, visualisation and breathtaking simplicity.

We examine the principles of accounting and financial statements and explore how to understand them. 

Full module specification

Module title:Accounting
Module code:BEP1070
Module level:1
Academic year:2016/7
Module lecturers:
  • Mr David Kolitz - Convenor
Module credit:15
ECTS value:

7.5

Pre-requisites:

None

Co-requisites:

None

Duration of module: Duration (weeks) - term 2:

11

Module aims

The aim of this module is to introduce you to the fundamentals of financial accounting with the purpose of enabling you to understand financial statements.  You will be introduced to the recording of transactions, the content of financial reports, and the interpretation financial information. 

The focus of the module is from the perspective of a user of financial information. 

ILO: Module-specific skills

  • 1. explain and apply the accounting concepts which underpin the IASB (International Accounting Standards Board) accounting framework
  • 2. analyse and process a broad range of typical business transactions
  • 3. prepare a set of basic financial statements
  • 4. explain and process elementary transactions for non-current assets and depreciation
  • 5. explain and process elementary transactions for inventory, receivables and cash.
  • 6. prepare a simple statement of cash flows.
  • 7. analyse and interpret financial statements.

ILO: Discipline-specific skills

  • 8. use accounting concepts and conventions to apply accounting principles in practical situations

ILO: Personal and key skills

  • 14. demonstrate basic written communication skills
  • 15. demonstrate basic problem solving skills

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad
311190

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Scheduled learning and teaching activities20Lectures
Scheduled learning and teaching activities1Revision lecture
Scheduled learning and teaching activities10Tutorials

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Weekly tutorials3-4 hours preparations by student/ 1 hour in-class discussion1-10Discussion in tutorial and suggested solutions on ELE

Summative assessment (% of credit)

CourseworkWritten examsPractical exams
01000

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
In-class exercises2010 minutes every week for 10 weeks1-10Indicative answers posted on line. Tutorial discussion
MCQ2045 minutes1-3 & 8-10Indicative answers posted on line. Tutorial discussion
End of module examination602 hours1-10Indicative answers posted on line.
0

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Examination and, in class exercises and MCQ 100% examination1-10August

Syllabus plan

  • Introduction to accounting
  • Fundamental accounting concepts
  • Analysis and recording of transactions: financial position
  • Analysis and recording of transactions: financial performance
  • Basics of bookkeeping
  • Non-current assets
  • Current assets
  • Statement of cash flows
  • Analysis and interpretation of financial statements
  • Using published financial statements

Indicative learning resources - Basic reading

Core text:

Scott, P. (2015) Accounting for Business, 2nd edition, Oxford University Press

Frampton, P and Robilliard, M. Accounting Comes Alive: Introducing Colour Accounting, Colour Accounting International (an interactive e-book).

Other recommended texts

Atrill and McLaney (2010) Accounting an Introduction, 5th edition, Pearson Education.

Kolitz, DL. (2015) A Concepts-Based Introduction to Financial Accounting, 5th edition, Juta.

Weetman, P. Financial Accounting: An introduction, Pearson

Module has an active ELE page?

Yes

Indicative learning resources - Web based and electronic resources

http://vle.exeter.ac.uk/course/view.php?id=5905

Indicative learning resources - Other resources

Other resources: as provided and recommended during classes and via ELE

Origin date

01/09/2014

Last revision date

16/01/2017