This is an introductory module to introduce students to the role and evolution of accounting
Topics to be covered may include: single entry accounting; double entry bookkeeping; financial reporting conventions; recording transactions and adjusting entries; principal financial statements; institutional requirements; auditing; monetary items; purchases and sales; bad and doubtful debts; inventory valuation; non-current assets and depreciation methods; liabilities; sole traders and clubs, partnerships, companies; capital structures; cash flow statements; interpretation of accounts through ratio analysis; problems of, and alternatives to, historical cost accounting.
Total contact hours: 65
Private study hours: 235
Total study hours: 300
Main assessment methods:
Exam, 3 hours (70%)
Essay of 1000 words (10%)
VLE Test 1 (10%)
VLE Test 2 (10%)
Reassessment method:
100% examination
Thomas, A & Ward, A. (2019) Introduction to Financial Accounting, London: McGraw Hill Education, ISBN: 9781526803009
Kaplan Publishing (2020) ACCA Financial Accounting (FA), Kaplan Publishing, Wokingham, Berks, ISBN: 9781787406131
Benedict, A & Elliot, B (2011) Financial Accounting an Introduction, Harlow: Prentice Hall, ISBN: 9780273688853
See the library reading list for this module (Canterbury)
See the library reading list for this module (Medway)
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- identify the professional and regulatory environments within which financial statements are prepared.
- define the conceptual framework underpinning the preparation of financial statements.
- manipulate financial data and analyse financial performance.
- record and summarise economic events through double entry bookkeeping and prepare financial statements.
The intended generic learning outcomes.
On successfully completing the module students will be able to:
- exercise independent and self-managed learning.
- communicate effectively to a variety of audiences and/or using a variety of methods.
- critically evaluate arguments and evidence.
- retrieve information from a variety of sources.
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