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:
Current from: 2018/9

Module Convenor: Miss Siwen Liu

Email: s.liu4@reading.ac.uk

Type of module:

Summary module description:

This module introduces students to the business and finance concepts and how accountants support businesses.

This module is delivered at 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:

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. Students are encouraged to develop additional IT skills by use of relevant web resources and communication techniques, including Blackboard.

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.

Contact hours:

	Autumn	Spring	Summer
Lectures		18	4
Practicals classes and workshops		8
Guided independent study		170
Total hours by term		196.00	4.00
Total hours for module	200.00

Summative Assessment Methods:

Method	Percentage
Written exam	75
Class test administered by School	25

Summative assessment- Examinations:
One 2 hour closed book unseen written exam in the Summer term.

Summative assessment- Coursework and in-class tests:

One 1 hour multiple-choice question (MCQ) test in the last week of the spring term.

Formative assessment methods:
Formative assessments are available in the text book for all topics. In addition, exam style questions are 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 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% 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):

Last updated: 4 September 2018