Undergraduate Programme and Module Handbook 2022-2023 (archived)
Module ACCT1041: INTRODUCTION TO FINANCIAL ACCOUNTING
Department: Accounting
ACCT1041: INTRODUCTION TO FINANCIAL ACCOUNTING
| Type | Tied | Level | 1 | Credits | 20 | Availability | Available in 2022/23 | Module Cap | None. | Location | Durham |
|---|
| Tied to | NN43 |
|---|---|
| Tied to | N302 |
| Tied to | N304 |
| Tied to | N305 |
| Tied to | N306 |
| Tied to | N307 |
| Tied to | NN42 |
| Tied to | N204 |
| Tied to | N206 |
Prerequisites
- None.
Corequisites
- None.
Excluded Combination of Modules
- None.
Aims
- To introduce the concepts and techniques involved in the preparation of basic financial accounting reports.
- To enable students to understand financial accounting reports.
Content
- Definition of Accounting and its objectives.
- Accounting concepts.
- Difference between cash flow and profit.
- Recording transactions through the double-entry system.
- Making year-end adjustments.
- Preparation of basic financial statements, including the Statement of Cash Flows.
- Interpretation of accounts using ratio analysis.
Learning Outcomes
Subject-specific Knowledge:
- By the end of this module, student should be able to:
- explain the context and purpose of financial reporting.
- understand the users of financial statements and their needs.
- define basic accounting concepts.
- demonstrate a knowledge of accounting systems.
Subject-specific Skills:
- Students will be able to:
- Apply double-entry accounting techniques.
- Produce a trial balance.
- Prepare basic financial statements for incorporated and unincorporated entities.
- Interpret financial statements.
Key Skills:
- Written Communication
- Planning, Organisation and Time Management
- Problem Solving and Analysis
- Numeracy
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 workshops, directed study, and independent study.
- Formative assessment is by means of online tests.
- Summative assessment is by means of a written examination of two hours duration.
Teaching Methods and Learning Hours
| Activity | Number | Frequency | Duration | Total/Hours | |
|---|---|---|---|---|---|
| Workshops | 20 | 1 per week | 2 hours | 40 | ■ |
| Revision Workshops | 2 | 1 per week in Term 3 | 2 hours | 4 | |
| Preparation and Reading | 156 | ||||
| Total | 200 |
Summative Assessment
| Component: Examination | Component Weighting: 100% | ||
|---|---|---|---|
| Element | Length / duration | Element Weighting | Resit Opportunity |
| One written examination | 2 hours | 100% | same |
Formative Assessment:
Online 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