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2021/22 Undergraduate Module Catalogue

LUBS1235 Introductory Financial Accounting

10 creditsClass Size: 303

Module manager: Jessica Johnson

Taught: Semester 1 (Sep to Jan) View Timetable

Year running 2021/22

This module is mutually exclusive with

LLLC1387Accounting for Non-Specialists
LUBS1225Accounting for Managers
LUBS1915Introduction to Financial Accounting
LUBS1925Introduction to Management Accounting
LUBS2035Finance for Small Business
LUBS2120Accounting 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.


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:
- 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


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 typeNumberLength hoursStudent hours
Private study hours80.00
Total Contact hours20.00
Total hours (100hr per 10 credits)100.00

Private study

This could include a variety of activities, such as reading, watching videos, question practice and exam preparation.

Opportunities for Formative Feedback

Your teaching methods could include a variety of delivery models, such as face-to-face teaching, live webinars, discussion boards and other interactive activities. There will be opportunities for formative feedback throughout the module.

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

The resit for this module will be 100% by 2 hour examination.

Reading list

The reading list is available from the Library website

Last updated: 09/09/2021 14:37:41


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