This is an archived handbook for a previous year. The current undergraduate and postgraduate handbooks can be viewed using the links above.
Undergraduate Handbook 2025-2026 (archived)
Module ACCT1021: ACCOUNTING AND FINANCE IN BUSINESS
Department: Accounting
ACCT1021: ACCOUNTING AND FINANCE IN BUSINESS
| Type | Level | Credits | Availability | Module Cap | Location |
|---|---|---|---|---|---|
| Open | 1 | 20 | Not available in 2025/2026 | None. | Durham |
Pre-requisites
- GCSE Mathematics at grade A.
Corequisites
- None.
Excluded Combinations
- None.
Aims
- To develop an understanding of the purpose and production of a wide range of financial reports, through study of the fundamentals of financial accounting and management accounting.
- To provide an introduction to financial management and sources of finance, thereby laying foundations for further study in the area.
- To promote development of a set of key skills.
Content
- The nature and role of accounting information, including its limitations
- The spectrum of users' information needs
- Presentation and interpretation of financial accounts
- Generation and interpretation of information for internal use within the organisation, for the purposes of cost control, budgeting and decision-making.
- The structure of the company, principles of corporate governance and the role of the financial manager.
- Sources of funds, management of working capital and introductory investment appraisal.
Learning Outcomes
Subject-specific Knowledge
- By the end of the module students should
- Be able to demonstrate an appreciation of the role of accounting information, including its limitations
- Have an understanding of fundamental accounting principles
- Have an appreciation of the uses and value of accounting and financial information to the managers of an organisation.
- Have an appreciation of financial management and of the range of sources of finance available
Subject-specific Skills
- By the end of the module students should
- Be able to apply fundamental accounting principles and be able to prepare and interpret simple financial statements
- Be able to prepare and interpret a range of reports of use to financial managers of an organisation
- Be able to apply basic investment appraisal techniques
Key Skills
- Written communication and numeracy: through the examination.
Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module
- Teaching is by lectures and seminars. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment is by means of multiple-choice tests. Summative assessment is by means of a written examination to test students' knowledge and understanding of the subject-matter.
Teaching Methods and Learning Hours
| Activity | Number | Frequency | Duration | Total Hours | Attendance Monitored |
|---|---|---|---|---|---|
| Lectures | 40 | 2 per week in terms 1&2 | 1 hour | 40 | |
| Seminars | 8 | 4 per term in terms 1&2 | 1 hour | 8 | Yes |
| Revision sessions | 4 | 2 per week | 1 hour | 4 | |
| Preparation and Reading | 148 | ||||
| Total | 200 | ||||
Summative Assessment
| Component | Component Weighting | Element | Length/Duration | Element Weighting | Resit Opportunity |
|---|---|---|---|---|---|
| Examination | 100% | One written examination | 2 hours | 100% |
Formative Assessment
Multiple choice tests
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.