2017/18 Undergraduate Module Catalogue

LUBS1235 Introductory Financial Accounting

10 creditsClass Size: 167

Module manager: John Smith
Email: J.E.Smith@lubs.leeds.ac.uk

Taught: Semester 1 (Sep to Jan) View Timetable

Year running 2017/18

This module is mutually exclusive with

LUBS1225	Accounting for Managers
LUBS1915	Introduction to Financial Accounting
LUBS1925	Introduction to Management Accounting
LUBS2035	Finance for Small Business
LUBS2120	Accounting for Managers

This module is approved as a discovery module

Module summary

The module is intended for non-accounting specialists and aims to introduce you to the basic concepts of financial accounting and interpretation of financial statements in a business context. The module provides an insight into how financial information is used and reported in business and provides a platform for those interested in pursuing the more advanced financial accounting modules in levels 2 and 3.

Objectives

The aim of this module is to introduce students to the basic concepts of financial accounting and interpretation of financial statements in a business context and provide grounding in the basic concepts of financial accounting.

Learning outcomes
Upon completion of this module students will be able to:
- Recognise and explain how simple financial transactions are recorded and outline the current technical standards, language and practices of accounting
- Interpret financial and non-financial information and data to provide a basic insight into the operations of a simple business

Skills outcomes
Upon completion of this module students will be able to:
Transferable
- Extract relevant information from structured scenarios and data to identify problems and define solutions

Subject specific
- Competently apply numerical skills to manipulate and interrogate financial data

Syllabus

Indicative Content
Essential accounting terminology and concepts, and an introduction to basic financial statements of sole traders and limited companies
The preparation of accounts
The interpretation of accounts, including an introduction to the calculation and interpretation of financial statements and financial ratios as a means of assessing company performance

Teaching methods

Delivery type	Number	Length hours	Student hours
Lecture	11	1.00	11.00
Seminar	10	1.00	10.00
Private study hours			79.00
Total Contact hours			21.00
Total hours (100hr per 10 credits)			100.00

Private study

For each 10 credits of study taken the expectation is that the normal study time (including attendance at lectures and classes, self-study and revision) is 100 hours.

Opportunities for Formative Feedback

- Students will be given solutions to questions considered in classes.
- In addition on-line MCQ tests will provide further additional feedback.
- There will be an opportunity to receive formative feedback on a practice assignment.

Methods of assessment

Exams

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

The resit for this module will be 100% by examination.

Reading list

The reading list is available from the Library website

Last updated: 25/01/2018

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