Accounting

Module title	Accounting
Module code	BEP1070
Academic year	2023/4
Credits	15
Module staff	Mr David Kolitz (Convenor)

Duration: Term	1	2	3
Duration: Weeks		11

Number students taking module (anticipated)	60

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.

Module aims - intentions of the module

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.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

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

On successfully completing the module you will be able to...

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

ILO: Personal and key skills

On successfully completing the module you will be able to...

9. demonstrate basic written communication skills and numerical skills;
10. demonstrate basic problem solving skills.

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

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

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
31	119	0

Details of learning activities and teaching methods

Category	Hours of study time	Description
Scheduled learning and teaching activities	20	Lectures, seminars and workshops
Scheduled learning and teaching activities	1	Revision session
Scheduled learning and teaching activities	10	Tutorials
Guided independent Study	59	Preparation for taught sessions
Guided independent Study	69	Reading, reviewing of material and revision

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Weekly tutorials	3-4 hours preparations by student / 1 hour in-class discussion	1-10	Discussion in tutorial and suggested solutions on ELE

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
0	100	0

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Mid-term exam	30	1 hour	1-5 & 8-10	Tutorial discussion
End of module examination - written component	56	1 hour 40 minutes	1-10	Indicative answers posted online
End of module examination - MCQ component	14	30 minutes	1-10	Indicative answers posted on line
	0
	0
	0

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
Mid-term exam (MCQ) (30%)	MCQ 1 hour (30%)	As above	August reassessment period
End of module examination - written component (56%)	Examination - written component 1 hour 40 mins (56%)	1-10	August reassessment period
End of module examination - MCQ component (14%)	Examination - MCQ component 30 mins (14%)	1-10	August reassessment period

Re-assessment notes

The written and MCQ components of the end of module exam are one assessment and are not separable.

Indicative learning resources - Basic reading

Core text:

Scott, P. (2019) Introduction to Financial Accounting, 3^rd 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, 6^th edition, Juta.

Weetman, P. Financial Accounting: An introduction, Pearson

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

Key words search

Introductory accounting, basic accounting, business accounting, accounting

Credit value	15
Module ECTS	7.5
Module pre-requisites	None
Module co-requisites	None
NQF level (module)	4
Available as distance learning?	No
Origin date	01/09/2014
Last revision date	05/01/2022