Module

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:2021/2
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 discuss the nature of accounting and accounting information;
  • 2. analyse and process a broad range of typical business transactions;
  • 3. explain and process electuary transactions relating to recognition and measurement of items on a statement of financial position;
  • 4. explain and process elementary transactions relating to recognition and measurement of items on a statement of profit or loss;
  • 5. prepare a set of basic financial statements
  • 6. describe the forms of business organisation; explain and process elementary transactions relating to financing of a business;
  • 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 and numerical 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, seminars and workshops
Scheduled learning and teaching activities1Revision session
Scheduled learning and teaching activities10Tutorials
Guided independent Study59Preparation for taught sessions
Guided independent Study69Reading, reviewing of material and revision

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
ICT 1 (MCQ)1030 minutes10 minutes every week for 10 weeks1-2 & 8-10Tutorial discussion
ICT 2 (MCQ)2045 minutes1- 5 & 8-10Tutorial Discussion
End of module examination702 hours1-10Indicative answers posted on line.

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

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
ICT 1 (MCQ) (10%)MCQ 30 min (10%)1-2 & 8-10As soon as possible after the test
ICT 2 (MCQ) (20%)MCQ 45 min (20%)1-5 & 8-10As soon as possible after the test
End of module examination (70%)Examination 2 hrs (70%)1-10August

Syllabus plan

  • Introduction; Funding butterfly and BaSIS framework
  • Analysing transactions on the BaSIS Board: Part 1
  • Analysing transactions on the BaSIS Board: Part 2
  • Statement of financial position
  • Statement of profit or loss: Part 1
  • Statement of profit or loss: Part 2
  • Business organisations and funding of a business
  • Ratio analysis: Part 1
  • Ratio analysis: Part 2

Indicative learning resources - Basic reading

Core text:

Scott, P. (2019) Introduction to Financial Accounting, 3rd Edition, Oxford University Press

 

Core material

Colour Accounting pack (provided to all BSc Business students registered for this module)

 

Other recommended texts

Kolitz, DL. (2019) A Concepts-Based Introduction to Financial Accounting, 6th edition, Juta.

Weetman, P. Financial Accounting: An introduction, Pearson

Module has an active ELE page?

Yes

Indicative learning resources - Web based and electronic resources

https://vle.exeter.ac.uk/course/view.php?id=10140

Indicative learning resources - Other resources

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

Origin date

01/09/2014

Last revision date

27/01/2021