Units of Assessment

Weighting Towards Module Mark (%)

 

2 Hour Examination (Closed Book)

70%

1 Hour Class Test  (Closed Book)

30%

Alternative Assessment

n/a

Qualifying Condition(s) 

A weighted aggregated mark of 40% is required to pass the module.

Accounting is concerned with measurement and management.  Measurement is concerned with recording past data, and management with the use of that data to make decisions that will benefit the business.

The aim of this module is to:

 ·              Explain the system of recording financial transactions

 ·              Explain the main accounting concepts and accounting adjustments

 ·              Prepare the financial statements for a single entity

On successful completion of this module students will be able to:

 ·              Explain the purpose of accounting records and their role in the accounting system.

 ·              Prepare accounting entries using double entry bookkeeping

 ·              Explain and distinguish between capital and revenue expenditure, cash and profit, income and expenditure, assets and liabilities.

 ·              Understanding the treatment of Non-current assets including the calculation of depreciation

 ·              Prepare accounting entries relating to sales tax and bad debts

 ·              Understand and apply accounting concepts (eg accruals, prudence)

·              Prepare the income statement and statement of financial position from a trial balance with relevant adjustments

·              Users of accounts and their objectives

 ·              Ledger accounts and double-entry bookkeeping

 ·              Accounting concepts and accounting adjustments

 ·              Treatment of Non-current assets

 ·              Preparation of financial statements of a single entity

·              Weekly 2 hour tutorials for students to practice applying the principles

 ·           Support of tutorial material by directed reading and exercises in selected textbooks

 ·            ULearn will be used as an information portal and will contain lecture notes, practical exercises, solutions to practical exercises, past exam papers and class tests and model answers and relevant reading

 ·             Evoting system will be used to provide feedback to students

  Assessment Strategy:

 Students will attempt questions during tutorials. By seeing the students individually working on their answers and by using eVoting to gather the answers for the group as a whole I will be able to assess on an ongoing basis whether students have reached the required level of understanding. The eVoting results will also highlight to students areas they need to focus on. This should ensure students are appropriately prepared for the class test and final exam.

 Essential Reading : A Pearson custom publication to be compiled (based on Frank Wood’s Business Accounting 1)

 Background Reading : Institute Journals

 Financial Management (CIMA)

 Accountancy (ICAEW)

 Accountancy and Business (ACCA)