Financial Accounting 1

Learning Outcomes

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Communicate complex ideas and arguments fluently and effectively in a range of different formats to a variety of different audiences.
• Demonstrate numeracy and problem solving skills;

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• Apply accounting principles and theories to current issues in financial accounting.

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• The regulatory framework surrounding financial reporting, including the value and limitations of statutory audit;
• The underlying principles and regulations to various items within financial accounts;
• The published financial reports of companies in different industries;
• The effects on financial results of management decisions, corporate transactions and the adoption of different accounting policies;
• Current controversies in financial accounting.

• Regulatory structure
• Audit
• Asset valuation
• Interpretation of accounts
• Consolidated accounts
• Selected topics in financial accounting such as revenue recognition, financial instruments.

The course will commence with a workshop revising assumed knowledge. The following six weeks will include a mix of lectures, discussion and exercises. Selected exercises will be used to provide formative feedback to students. Additional exercises and reading will be set for private study. The course will conclude with a revision workshop.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Set exercises - practical exam

• Assessment Type: Formative
• Feedback: This will be marked and feedback provided, so that students not only practice applying technical knowledge but also learn about presentation of examination answers. Other exercises require students to present answers in class and verbal feedback is provided at the time. Further exercises are provided each week for self-study. Solutions are provided, allowing students to check their own progress.
• Final Assessment: No
• Group Work: No

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.