Module ECOS1081: INTRODUCTION TO FINANCIAL ACCOUNTING

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

ECOS1081: INTRODUCTION TO FINANCIAL ACCOUNTING

Prerequisites

• None.

Corequisites

• None.

Excluded Combination of Modules

• None.

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

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University