Introduction to Accounting
This module is intended for non-accounting students who would like an introduction to the role of financial and management accounting from the perspective of the modern manager.
The internationalisation of accounting standards and management accounting practices is emphasised in the teaching of the module. This would allow students not only to get an understanding of working abroad in accounting and general business departments, but also to consider the development and future prospects of related developments.
Sustainable and unsustainable practices will be discussed throughout the module. Corporate accounting is examined as a whole, not only looking at the financial elements, but also trying to identify patterns and explain the social and environmental ones.
Since students will be taught current national and international corporate accounting practices, they will acquire an understanding of basic accounting knowledge that is necessary for working in accounting or general business departments in the UK or abroad. They will also be able to develop their transferable skills in basic writing, problem solving, numeracy, communication, and time management.
Full module specification
|Module title:||Introduction to Accounting|
Not to be taken with BEA1008 or BEA1009.
|Duration of module:||
Duration (weeks) - term 1: |
This module aims to provide students with a broad understanding of the fundamentals of recording transactions, the content of financial reports, the scope of financial reporting in the UK and the basics of the interpretation of published accounting information.
The module also introduces management accounting and shows how accounting information can be provided to support an organisation’s management in decision-making and control. It concludes by examining recent developments in social and environmental accounting. The overall aim is therefore to give an introduction to accounting from a wider user perspective.
ILO: Module-specific skills
- 1. explain and apply the accounting concepts which underpin the IASB accounting framework
- 2. construct simple statements of financial performance and position and understand the key accounting adjustments made to these statements.
- 3. understand fundamentals of ratio analysis
- 4. describe the elements of cost accounting
- 5. identify different costing systems
- 6. apply management accounting information for short-run decision making
- 7. apply management accounting information for long-run decision making employing basic investment appraisal techniques
- 8. describe the role of budgeting in financial planning and control
- 9. describe the relevance of non-financial information in corporate reporting and the recent developments in the field of social and environmental accounting.
ILO: Discipline-specific skills
- 10. use accounting concepts and conventions to apply accounting principles in practical situations
- 11. understand how accounting data is used by diverse stakeholder groups
- 12. with guidance identify, synthesise, analyse and present appropriate information to assist management with controlling the business and taking financial decisions
ILO: Personal and key skills
- 13. demonstrate basic written communication skills
- 14. demonstrate basic problem solving skills
Learning activities and teaching methods (given in hours of study time)
|Scheduled Learning and Teaching Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Contact Hours||2||Revision Lectures|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Audience Response Systems||Online Multiple Choice self check questions||1-14||In-class (lectures)|
|Weekly tutorials for discussion||3 hrs preparation by student / 1 hr in class discussion||1-14||In-class (lectures)|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Examination||80||2 hours||1-14||Mark awarded Indicative answers posted on line.|
|Multiple choice test||20||45 minutes||1-6 & 9-14||Mark awarded Indicative answers posted on line.|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
|Multiple Choice Test and Examination||2 hr written examination (100%)||1-14||Re-sit exam the following summer (August).|
Should a re-sit be required for this module, it will be by means of one two-hour examination accounting for 100% module marks.
1) The accounting world, principles and rules
2) The accounting equation and financial statements
3) Adjusting financial statements: accruals, prepayments, depreciation and bad debts. Introduction to ratio analysis and the cash flow statement
4) Classification of costs and costing systems (marginal costing)
5) Principles of capital investment appraisal and long-term decision making Planning and control – introduction to budgeting
6) Absorption costing
7) Social and environmental accounting
Indicative learning resources - Basic reading
Scott (2016) Accounting for Business 2nd edition. Oxford University Press. (ISBN 978-0-19-871986-1)
Atrill and McLaney (2013) Accounting and finance for non-specialists. 8th ed. Pearson Education.
Proctor, R. (2009) Managerial Accounting for Business Decisions, 3rd edition, Pearson Education.
Dyson, J. (2010) Accounting for non-accounting students, 8th edition, Pearson Education.
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