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2005/06 Undergraduate Module Catalogue

LUBS1900 Foundations of Accounting

20 creditsClass Size: 136

Module manager: Ms Denise Gallagher
Email: dg@lubs.leeds.ac.uk

Taught: Semesters 1 & 2 (Sep to Jun) View Timetable

Year running 2005/06

Pre-requisite qualifications

Mathematics of at least GCSE grade A standard.

Co-requisites

Students must also take LUBS1910 Computing for Accounting.

This module is not approved as an Elective

Objectives

To introduce students to the basic concepts of financial accounting and management accounting, and the preparation and interpretation of financial statements, in a business context. On completion of this module, students will be able to: understand the basic concepts of financial accounting and the preparation of financial statements; prepare a set of financial statements from underlying business transactions; analyse and interpret financial statements; understand the basic concepts of management accounting and its role in planning, decision making and control; and understand and apply the concepts of decision making in the short and long term.

Syllabus

Nature of accounting and decision making; the balance sheet, income statements; accounting records ? double entry bookkeeping; fixed and intangible assets - valuation, revaluation, depreciation and disposal; company accounts; cash flow statements; analysis and interpretation; management accounting - the framework for planning, decision making and control; cost behaviour and estimation; cost-volume-profit analysis; relevant cost and benefits for decision making; scarce resources in short-term decision making, decision making in the longer term; payback, accounting rate of return, NPV and IRR; capital rationing, sensitivity analysis and the cost of capital; and the budgetary process; and preparation of budgets and behavioural aspects.

Teaching methods

Lectures/workshops: 22 x 3 hours.

Private study

For each 20 credits of study taken, the expectation is that the normal study time (including attendance at lectures and tutorials, self-study and revision) is 200 hours.

Opportunities for Formative Feedback

Students will be given solutions to questions considered in the classes. In addition on-line MCQ tests and tutor-marked non-assessed coursework will provide further formative feedback.

Methods of assessment

3 hour examination

Reading list

The reading list is available from the Library website

Last updated: 22/08/2006

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