This is an archived handbook for a previous year. The current undergraduate and postgraduate handbooks can be viewed using the links above.
Undergraduate Handbook 2020-2021 (archived)
Module ACCT1041: INTRODUCTION TO FINANCIAL ACCOUNTING
Department: Accounting
ACCT1041: INTRODUCTION TO FINANCIAL ACCOUNTING
| Type | Level | Credits | Availability | Module Cap | Location |
|---|---|---|---|---|---|
| Tied | 1 | 20 | Available in 2020/2021 | None. | Durham |
Tied To
- N204: Accounting and Management with Placement Year
- N206: Accounting and Management with Study Abroad
- N302: Accounting and Finance with Placement Year
- N304: Accounting and Finance with Study Abroad
- N305: Finance
- N306: Finance with Placement Year
- N307: Finance with Study Abroad
- NN42: Accounting and Management
- NN43: Accounting and Finance
Pre-requisites
- None.
Corequisites
- None.
Excluded Combinations
- 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
Subject-specific Knowledge
- 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.
Subject-specific Skills
- understanding of the needs of users for financial information
- understanding of how accounting tries to fulfil needs of users
Key Skills
- Written Communication
- Planning, Organisation and Time Management
- Problem Solving and Analysis
- Numeracy
- Computer Literacy and Information Retrieval
Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module
- Learning takes place through attendance at, preparation for, and participation in lectures, seminars, directed study, and independent study.
- Formative assessment is by means of an assessment examining a financial accounting topic(s).
- Summative assessment is by means of a written examination.
Teaching Methods and Learning Hours
| Activity | Number | Frequency | Duration | Total Hours | Attendance Monitored |
|---|---|---|---|---|---|
| Lectures | 10 | 1 per week | 3 hour | 30 | |
| Seminars | 10 | 1 per week | 1 hour | 10 | |
| Preparation and Reading | 160 | ||||
| Total | 200 |
Summative Assessment
| Component | Component Weighting | Element | Length/Duration | Element Weighting | Resit Opportunity |
|---|---|---|---|---|---|
| Examination | 100% | One written examination | 2 hours | 100% | same |
Formative Assessment
An assignment on a financial accounting topic(s).
Students who do not attend monitored activities shown under Teaching Methods
and Learning Hours, or who fail to complete the summative or formative
assessment(s) specified above, may be subject to the Academic Progress
procedures defined in the University's General Regulation V, and may be
required to leave the University.