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:
Current from: 2019/0

Module Convenor: Ms Edel Byrne

Email: edel.byrne@henley.ac.uk

Type of module:

Summary module description:

This module covers double entry bookkeeping and introduces the preparation of financial statements for unincorporated businesses and companies.


Aims:

This module aims to develop knowledge and understanding of international accounting and financial reporting and develop the skills to apply this to preparation of financial statements.


Assessable learning outcomes:

1. Apply 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:

The module also aims to encourage the development of oral communication skills and the students’ effectiveness in group situations. Structured activities are designed to develop independent learning, including reflective, adaptive and collaborative learning.


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 financial position and the statement of cash flows.


Global context:

This module covers internationally used methods of bookkeeping and statements governed by international 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. Tutorials will focus on numerical practice and discussion of examination style questions.


Contact hours:
  Autumn Spring Summer
Lectures 16
Tutorials 10
Guided independent study:      
    Wider reading (directed) 10
    Exam revision/preparation 24
    Completion of formative assessment tasks 30
    Reflection 10
       
Total hours by term 0 76 24
       
Total hours for module 100

Summative Assessment Methods:
Method Percentage
Written exam 100

Summative assessment- Examinations:

The exam will be an unseen exam in the Summer term and will be one and a half hours long. 


Summative assessment- Coursework and in-class tests:

None


Formative assessment methods:

Assessments will be set each week to enable students to practise the material covered. Formative feedback will be given in the form of solutions and suggested answers. These assessments are primarily designed as a learning vehicle in support of independent learning.


Penalties for late submission:
The Module Convener 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[1] (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.

    Assessment requirements for a pass:
    A minimum mark of 40%

    Reassessment arrangements:

    Reassessment by examination, taking place in the same year.


    Additional Costs (specified where applicable):

    1) Required text books: Accounting and Finance: An Introduction with MyAccountingLab access card by Eddie McLaney and Peter Atrill. Published by Pearson. Total cost, approximately £45 plus postage and packing and VAT



    2) Calculator: £15 (Casio FX-83GTPLUS or Casio FX-85GTPLUS)


    Last updated: 8 April 2019

    THE INFORMATION CONTAINED IN THIS MODULE DESCRIPTION DOES NOT FORM ANY PART OF A STUDENT'S CONTRACT.

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