AC110-Introduction to Accounting

Module Provider: Business Informatics, Systems and Accounting
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Autumn / Spring term module
Non-modular pre-requisites:
Modules excluded: MM1F27 Business in Practice: Accounting for managers
Current from: 2022/3

Module Convenor: Mr Leon Coopasamy

Type of module:

Summary module description:

An introduction to double-entry bookkeeping and the preparation of financial statements for sole traders and limited companies.

This module is delivered at the University of Reading, University of Reading Malaysia and Beijing Institute of Technology.


The module aims to help students to develop a sound understanding of the techniques of double-entry bookkeeping, so that they can apply its principles in recording accounting transactions, adjusting financial records and preparing non-complex financial statements.

Assessable learning outcomes:

Programme Level Graduate 

Attributes/Learning Outcomes

By the end of the module, it is expected that students will be able to: Mastery of the discipline Skills in research and enquiry Personal effectiveness and self-awareness Global engagement and multi-cultural awareness Employability
1. Specify why an entity maintains financial records and prepares financial statements and sources of information. 1,2        
2. Describe and discuss the various principles and underlying concepts relating to the preparation of financial statements. 1,2        
3. Apply double-entry accounting techniques to a range of simple transactions. 4 1,2      
4. Prepare ledger accounts and a trial balance. 4 1,2      
5. Identify and correct omissions and errors in accounting records and financial statements, using journal and suspense accounts as appropriate. 4 1,2      
6. Amend a trial balance using journals. 4 1,2      
7. Identify the main components of a set of financial statements and specify their purpose and inter-relationship.   1,2      
8. Prepareand present Statements of Profit or Loss, Financial Position and Cash Flows from accounting records and trial balance. 4,5 1,2      


Additional outcomes:

Workshops and assignments are designed to encourage the development or oral communication and student effectiveness in group situations. Structured activities are designed to develop independent learning, including reflective, adaptive and collaborative learning. 

Outline content:

• Accounting concepts and conventions.

• The Accounting Equation.

• Recording financial transactions, including cost of sales, accruals, prepayments, irrecoverable debts and allowances, inventories, non-current assets and depreciation.

• Ledger accounting and double-entry.

• Preparing basic financial statements, including Statements of Profit or Loss, Statements of Financial Position and Statements of Cash Flows. 

Global context:

The international context of accounting will be considered through discussion of the need for, nature and development of international accounting standards.

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 12 2
Seminars 10 10 2
Guided independent study:      
    Wider reading (independent) 10 10
    Exam revision/preparation 56
    Completion of formative assessment tasks 22 28
    Revision and preparation 20
Total hours by term 80 60 60
Total hours for module 200

Summative Assessment Methods:
Method Percentage
Written exam 80
Class test administered by School 20

Summative assessment- Examinations:

One 2.5 hour closed book, unseen written examination in the main examination period (contributing 80% of the total module mark).

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.


Summative assessment- Coursework and in-class tests:

One 60 minute in-class test, attempted under exam conditions, in the last week of the Autumn term (contributing 20% of the total module mark).

Formative assessment methods:

Formative assessments are available in the textbook for all topics in the module to enable students to gain the necessary practice. In addition, exam-style questions will be available on Blackboard, and students will practice exam-style questions in workshops. Marking guides and feedback are provided where appropriate so that students can assess their own performance.

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

  • where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that 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:
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.

Assessment requirements for a pass:

Requirement for a University pass: a minimum mark of 40% overall. 

This module contributes to the Accounting 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 by examination only.

Additional Costs (specified where applicable):

Required text books: Students are required to purchase the ICAEW Certificate Level Accounting Study Manual and Question Bank 2022 £40 approx.

Calculator: £15 - Casio FX-83GTx or Casio FX-85GTx

Casio FX-83GTPLUS or Casio FX-85GTPLUS

Last updated: 22 September 2022


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