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: 2018/9

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:

Having completed the module it is expected that students will be able to:

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:

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 financial position 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		16
Practicals classes and workshops		10
Guided independent study		74
Total hours by term		100.00
Total hours for module	100.00

Summative Assessment Methods:

Method	Percentage
Written exam	100

Summative assessment- Examinations:

One 1.5 hour unseen written exam to be taken during the April-June examination period

Summative assessment- Coursework and in-class tests:

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: 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: 20 April 2018