AC103-Introduction to Business and Finance
Module Provider: Business Informatics, Systems and Accounting
Number of credits: 20 [10 ECTS credits]
Level:4
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Module version for: 2016/7
Module Convenor: Innocent Okwuosa
Email: innocent.okwuosa@henley.ac.uk
Summary module description:
This module introduces students to the business concept and how accountants support businesses.
This module is delivered at University of Reading, University of Reading Malaysia and Beijing Institute of Technology.
Aims:
This module aims to provide students with an introduction to the key features of the internal and external environment which provide the context for business strategy and operations. It also provides students with an understanding of how the accounting and finance functions support businesses in achieving their objectives.
Assessable learning outcomes:
By the end of the module it is expected that students will be able to:
1. Identify and discuss the general objectives of business and the functions and tasks that businesses perform in order to meet their objectives.
2. Specify the nature and characteristics of different forms of business and organisational structure and discuss their advantages and disadvantages.
3. Assess the impact on a business of the economic environment in which it operates.
4. Identify the purpose of the financial information produced by businesses.
5. Discuss how accounting and finance functions support business operations and how they should run.
6. Assess the importance of the accounting profession in providing information and assurance to the public.
7. Consider the impact of law on the accountant as a professional.
Additional outcomes:
Structured activities are designed to develop independent learning, including reflective adaptive and collaborative learning.
Outline content:
• Managing a business
• Organisational and business structures
• Introduction to business strategy
• Introduction to risk management
• Fundamental economic framework
• Introduction to the professional accountant
• Purpose of financial information produced by businesses
• Role of the finance function
• Structure and regulation of the accountancy profession
• External regulation of business
Brief description of teaching and learning methods:
The module is delivered through a combination of interactive lectures which will introduce students to topic areas and practical workshops where students will consolidate their understanding through guided question practice and discussion.
Summative Assessment Methods:
| Method |
Percentage |
| Written exam |
75 |
| Class test administered by School |
25 |
Other information on summative assessment:
Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy.
where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.
The University policy statement on penalties for late submission can be found at:
http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.
Length of examination:
One 2 hour closed book unseen written exam in the Summer term.
Requirements for a pass:
A minimum mark of 40% is required for a University pass.
This module contributes to the Business and Finance module of the ACA Professional Stage Knowledge level. In order to apply for ICAEW credit for prior learning a minimum mark of 50% must be obtained in this module.
Reassessment arrangements:
Reassessment is through written exam in August/September of the same year.
Additional Costs (specified where applicable):
1) Required text books: Students will be expected to purchase the relevant ICAEW study manual and question bank from the ICAEW publishers, Total cost will be in the region of £30.
2) Specialist equipment or materials:
3) Specialist clothing, footwear or headgear:
4) Printing and binding:
5) Computers and devices with a particular specification:
6) Travel, accommodation and subsistence:
Last updated: 21 December 2016