Module code: MAN1120

Module Overview

This module introduces students to financial accounting. It covers fundamental accounting principles and their application in the preparation and interpretation of financial statements.

Module provider

Surrey Business School

Module Leader


Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 4

JACs code: N400

Module cap (Maximum number of students): N/A

Module Availability

Semester 2

Prerequisites / Co-requisites


Module content

  • The accounting framework and accounting concepts

  • Double entry bookkeeping

  • Accounting adjustments including depreciation, bad and doubtful debts, accruals and prepayments

  • Financial statements for sole traders and companies

  • Statement of cashflows

  • Accounting ratios and interpretation of financial statements

Assessment pattern

Assessment type Unit of assessment Weighting
Coursework Preparation of an income statement (IS) and statement of financial position (SFP) from a trial balance 40
Coursework Preparation of a statement of cashflows and commentary 20
Coursework Calculation of key performance indicators and commentary 20
Coursework Contribution to webinars and online discussions 20

Alternative Assessment

Not applicable.

Assessment Strategy

The assessment strategy is designed for students to demonstrate their understanding and application of the key learning outcomes.

Formative assessment:

Students’ understanding will be assessed on an ongoing basis through the weekly practice questions. These give students practice in preparation for the formal assessments.

Elements of self-assessment are built into the course. Students need to attempt the homework questions and check against the answers provided to take ownership of their studies.

Summative assessment:

The summative assessment consists of:

  • Preparing a statement of financial position and income statement (40%)

  • Preparing of a statement of cashflows (20%)

  • Calculating and using key financial ratios to interpret a business’s results (20%)

  • Contribution to webinars and online discussions (20%)

Students will be provided with the assessment criteria and weighting for each component as the relevant topics are introduced during the semester.

Module aims

  • Explain the system of recording financial transactions
  • Explain and apply the main accounting concepts and adjustments
  • Prepare the financial statements for a single entity

Learning outcomes

Attributes Developed
001 Explain the accounting framework KPT
002 Prepare accounting entries using double entry bookkeeping CKPT
003 Explain and distinguish between capital and revenue expenses, cash and profit, income and expenses and assets and liabilities CKP
004 Understand the treatment of non-current assets, including calculation of depreciation of non-current assets CKP
005 Write-off bad debts and make allowances for doubtful debts CKPT
006 Make adjustments for accruals and prepayments CKPT
007 Prepare the income statement and the statement of financial position from a trial balance with relevant adjustments CKPT
008 Prepare the statement of cashflows CKPT
009 Calculate ratios and use them to interpret financial statements CKPT
010 Explain how and why accounting concepts are applied KPT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Overall student workload

Independent Study Hours: 30

Lecture Hours: 30

Methods of Teaching / Learning

The teaching and learning methods include face to face and online lectures/ webinars to facilitate discussion on key areas of learning. SurreyLearn will be used as a virtual learning portal and will contain lecture notes, questions and practical exercises. Model answers for the exercises will also be provided.

The initial focus of the module is to understand the system of recording financial transactions. Weekly questions will build students’ confidence to undertake the process of entering information into the accounting system. Students then learn how to make adjustments to accounts, while applying the accounting concepts. As the course progresses students will see how all the individual components are pulled together and be able to prepare the income statement and the statement of financial position from a trial balance. Students will also learn how to prepare a statement of cashflows utilising the information in the statement of financial position and income statement. Students will then be ready to interpret the accounts.

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list


Other information


Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2019/0 academic year.