Module ECOS1081: INTRODUCTION TO FINANCIAL ACCOUNTING

Department: Business School (Economics and Finance) [Queen's Campus, Stockton]

ECOS1081: INTRODUCTION TO FINANCIAL ACCOUNTING

Tied To

• N200: Business (see Undergraduate Handbook 2014-2015 for details)
• N305: Finance
• N306: Finance with Business Placement
• N307: Finance with Study Abroad
• N420: Business Finance
• NN43: Accounting and Finance

Pre-requisites

Corequisites

Excluded Combinations

Aims

• To introduce the basic concepts of financial accounts' preparation and to enable students to understand the financial accounting reports.
• To investigate the different treatments of financial statements’ components.

Content

• Definition of Accounting and objectives of Accounting.
• Income determination and difference between income and cash.
• Accounting concepts and statements.
• Financial statements preparation, including cash flow statement.
• Interpretation of accounts using ratio analysis.

Learning Outcomes

• By the end of this module, student should have:
• a basic knowledge of the legal structure of organisations.
• an understanding of basic financial accounting concepts and the ability to apply these to produce simple financial accounting reports.
• appreciation of the limitations of financial accounting reports.

• understanding of the needs of users for financial information
• understanding of how accounting tries to fulfil needs of users

• Written Communication - through summative assessment.
• Planning, Organisation and Time Management - by preparing for examinations.
• Problem Solving and Analysis - by applying the necessary analytical and quantitative skills, as well as the ability to manipulate concepts in Financial Accounting.
• Numeracy - by applying core mathematical skills to answer a range of examination questions.
• Computer Literacy and Information Retrieval - by accessing and downloading teaching material from DUO

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Teaching is by lectures and tutorials. Learning takes place through attendance at lectures, preparation for and participation in seminar classes, and private study. Formative assessment is by means of computer-based Multiple Choice tests. Summative assessment is by means of a written examination.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

Two or more Multiple Choice Tests