AC105B-Introductory International Financial Accounting B

Module Provider: Business Informatics, Systems and Accounting
Number of credits: 10 [5 ECTS credits]
Level:4
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites: AC105A Introductory International Financial Accounting A
Modules excluded:
Module version for: 2017/8

Module Convenor: Ms Edel Byrne

Email: edel.byrne@henley.ac.uk

Summary module description:

This module covers double entry bookkeeping and introduces the preparation of financial statements for sole traders and limited companies.


Aims:
This module aims to develop further students’ knowledge and understanding of international corporate financial reporting and the skills to apply this to the preparation of company financial statements.

Assessable learning outcomes:

By the end of the unit it is expected that students will be able to:



1. Apply further the principles and underlying concepts relating to financial accounting with respect to the process of recording, summarising and presenting financial accounting data



2. Organise and present information clearly, succinctly and in the required format under timed conditions


Additional outcomes:
Workshops and assignments are also designed to encourage the development of oral communication and student effectiveness in group situations. Structured activities are designed to develop independent learning skills. IT skills are developed by the use of the Blackboard course management system and the on-line textbook linked VLE

Outline content:
Reviewing the conceptual framework of financial accounting and reporting; recording transactions and events using double-entry accounting; preparation and presentation of the statement of financial position and the income statement including adjustments for cost of sales, accruals and prepayments, irrecoverable debts and allowances, and depreciation; inventory valuation; accounting for non-current assets; company financial statements including the statement of comprehensive income and the statement of changes in equity and the statement of cash flows.

Brief description of teaching and learning methods:
Lectures will be used for the exposition of the main concepts, principles and techniques associated with the discipline. Workshops will focus on discussion and numerical practice.

Contact hours:
  Autumn Spring Summer
Lectures 18
Practicals classes and workshops 10
Guided independent study 72
       
Total hours by term 100.00
       
Total hours for module 100.00

Summative Assessment Methods:
Method Percentage
Written exam 100

Other information on summative assessment:

Formative assessment methods:
Work will be set for most weeks of the unit to enable students to gain the necessary numerical practice. Most of this work is primarily designed as a learning vehicle in support of independent learning.

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 1.5 hour unseen written paper to be held during the May/June examination period.

    Requirements for a pass:
    A minimum mark of 40%

    Reassessment arrangements:
    Re-assessment by examination. Re-assessment for Part 1 modules takes place in August/September of the same year.

    Additional Costs (specified where applicable):

    1) Required text books: P. Atrill &E.McLaney, Accounting and Finance: An Introduction with MyAccountingLab access card, Prentice Hall/Pearson, 7th ed. 2014 ISBN: 9781292012650. Cost approximately £45.


    Last updated: 31 March 2017

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