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2015/16 Undergraduate Module Catalogue

LUBS1915 Introduction to Financial Accounting

10 creditsClass Size: 120

Module manager: Prof. Steven Toms

Taught: Semester 1 View Timetable

Year running 2015/16

Pre-requisite qualifications

LUBS1915 is a pre-requisite for the study of the following modules;
- LUBS3120

LUBS1915 is a partial pre-requisite for the study of the following modules;
- LUBS2215
- LUBS2290
- LUBS2295
- LUBS3540
- LUBS3550


LUBS1925Introduction to Management Accounting

This module is not approved as a discovery module


This module aims to introduce students to the basic concepts of financial accounting and the preparation and interpretation of financial statements in a business context.

Learning outcomes
On completion of this module, students will be able to:
- Understand the basic concepts of financial accounting and the preparation of financial statements
- Provide a basic insight into the operations of a simple business

Skills outcomes
Subject specific:
- Apply current technical standards, language and practices of accounting to prepare financial statements
- Competently record and summarise financial transactions

- Extract relevant information from structured scenarios and data in order to identify problems and define solutions
- Competently apply numerical skills to manipulate and interrogate financial and non-financial data


Indicative content:
- nature of accounting and decision making
- double entry bookkeeping
- financial statements
- control accounts
- cost of sales, inventory
- accruals and prepayments
- irrecoverable debts
- non-current assets
- company accounts and analysis

Teaching methods

Delivery typeNumberLength hoursStudent hours
Private study hours68.00
Total Contact hours32.00
Total hours (100hr per 10 credits)100.00

Private study

Preparation of solutions for weekly classes; preparation of solution to formative non-assessed coursework; preparation for examination.

Opportunities for Formative Feedback

Progress will be monitored through contributions to tutorials.

Methods of assessment

Exam typeExam duration% of formal assessment
Standard exam (closed essays, MCQs etc)2 hr 00 mins100.00
Total percentage (Assessment Exams)100.00

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

The reading list is available from the Library website

Last updated: 18/08/2016


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