ACCT06029 2022 Financial Accounting 1

General Details

Full Title
Financial Accounting 1
Transcript Title
Financial Accounting 1
Code
ACCT06029
Attendance
N/A %
Subject Area
ACCT - 0411 Accounting & Taxation
Department
BUS - Business
Level
06 - Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
Caroline McNulty, Gary Reynolds, Valerie McTaggart, Geraldine Barry, Kerry Dolan, Aileen Brennan
Programme Membership
SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business SG_BBUSI_C06 202200 Higher Certificate in Business in Business Studies SG_BINTE_B07 202200 Bachelor of Business in International Tourism with Event Management SG_BTEVM_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management SG_BBUSS_B07 202200 Bachelor of Business in General Business SG_BADMN_B07 202200 Bachelor of Business in Business Administration SG_BMKTG_B07 202200 Bachelor of Business in Marketing SG_BMARK_H08 202200 Bachelor of Business (Honours) in Marketing SG_BTOTR_B07 202200 Bachelor of Business in Tourism with Event Management SG_BTOUR_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management SG_BTOTR_H08 202200 Bachelor of Business (Honours) in Tourism with Event Management SG_BBUSJ_B07 202200 Bachelor of Business in Business SG_BBUSI_C06 202200 Higher Certificate in Business in Business SG_BBUSL_C06 202200 Higher Certificate in Business in Business Administration SG_BBUSM_C06 202200 Higher Certificate in Business in Business Studies SG_BBUSB_H08 202200 Bachelor of Business (Honours) in Business SG_BBUSI_H08 202200 Bachelor of Business (Honours) in Business SG_BBUSG_B07 202300 Bachelor of Business in General Business SG_BINTM_B07 202300 Bachelor of Business in International Tourism with Event Management SG_BADMN_C06 202200 Higher Certificate in Business in Business Administration SG_BBUSE_C06 202400 Higher Certificate in Business in Business (exit) SG_BBUSE_B07 202400 Bachelor of Business in Business (exit) SG_BINTM_B07 202400 Bachelor of Business in International Tourism with Event Management
Description

Basic Introduction to both Bookkeeping principles and Financial accounting. Students will gain an insight into the fundamental basics of Financial Accounting.

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Discuss the relationship between bookkeeping and accounting

2.

Prepare books of original entry and post transactions to ledgers and extract trial balance

3.

Identify and prepare basic Income Statement and Statement of Financial Position

4.

Demonstrate knowledge of key financial accounting terminology and indicators for a business

Teaching and Learning Strategies

Comprises of Lectures & Tutorials.

Module Assessment Strategies

Written Exam and/ or Moodle Quiz with theory and numerical content.

Repeat Assessments

Written Exam and/ or Moodle Quiz with theory and numerical content.

Indicative Syllabus

  • Introduction to history and objectives of financial accounting.
  • Introduction to key financial accounting terminology and indicators of a business.
  • Introduction to double entry bookkeeping , Accounting equation, ledgers and trial balance.
  • Introduction to the books of original entry.
  • Introduction to columnar day books (including Vat).
  • Preparation of basic Income statement and Statement of financial position.

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
50 %
End of Semester / Year Formal Exam
50 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Multiple Choice Class Quizzes/ MCQ Coursework Assessment Multiple Choice/Short Answer Test 25 % Week 4 1,2,3,4
2 Continuous Assessment Coursework Assessment Assignment 25 % Week 9 1,2,3,4
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final assessment Final Exam Open Book Exam 50 % End of Term 1,2,3,4
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Tiered Classroom Lecture 3 Weekly 3.00
Tutorial Flat Classroom Tutorial 1 Weekly 1.00
Independent Learning Not Specified Independent Learning 3 Weekly 3.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Required Reading
2021 Frank Wood's Business Accounting
ISBN 1292365439 ISBN-13 9781292365435

Frank Wood's Business Accounting Volume 1, the world's best-selling textbook on book-keeping and accounting, continues to provide an indispensable introduction for students and professionals across the globe.

Module Resources

Non ISBN Literary Resources
Journal Resources
URL Resources
Other Resources

None.

Additional Information

In semester 2, students must select either of the following modules as a mandatory module:

Module Ref: Acct06030 Financial accounting 2, or Module ref:Acct06033 Accounting & Payroll.