FINANCIAL ACCOUNTING - 2020/1
Module code: MAN1099
This module is intended to provide an introduction to accounting and finance. It is aimed at students who are not majoring in accounting or finance but who are studying introductory level accounting and finance as part of their programme in management and is particularly focused on students specialising in the Hospitality, Tourism and Events sectors.
Hospitality, Tourism & Events Management
LIU Anyu (Hosp & Tour)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 4
JACs code: N400
Module cap (Maximum number of students): N/A
Prerequisites / Co-requisites
Indicative content includes:
- Introduction to accounting and finance – users; purpose; principal accounting structures
- The key financial statements – Statement of Cashflows; Income Statement; Statement of Financial Position
- Understanding of key additional information contained in published annual reports
- Accounting concepts and accounting adjustments
- Interpretation of Accounts
- The importance of working capital to the operations of a business
- Budgets & forecasts – types & functions
|Assessment type||Unit of assessment||Weighting|
|School-timetabled exam/test||60 MINUTE MIDTERM (WEEK 7) TEST (CLOSED BOOK)||30|
|Examination||2 HOUR EXAM (CLOSED BOOK)||70|
The module has number of learning outcomes that directly related to the topics delivered in various weeks. The assessments are designed to capture learning in all the topics. The midterm test consists of multiple choice questions and exercises, and it will assess students on the topics covered over the first 4 weeks. The final exam will assess students’ ability to prepare company accounts, analyse them and discuss the role of auditors and agency theory.
Where students require ALS arrangements for the mid-term test, these will be identified and addressed as required.
Opportunities for formative feedback will be provided through in-class discussions, example multiple choice questions and SurreyLearn discussion forums.
The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of both the theoretical concepts and their practical application.
The summative assessment for this module consists of:
A 60 minutes class-test (30%) scheduled at the mid-point of the course
A two hour closed-book final exam (70%) during the examination period
Formative assessment and feedback
Formative feedback will be given on a continuous manner during the course of the module. Numerous questions are set for completion in tutorials and additional questions given for homework. In doing these, students are not only gaining invaluable practice in preparation for the formal assessments but are also given an opportunity to show their workings and receive additional explanation and help from tutors where needed.
- The principal types of accounting structures including for profit; not-for-profit, sole proprietorships; partnerships and limited companies;
- The relevance of financial reports and analysis;
- How and why data is recorded;
- Preparation and interpretation of financial information;
- How management uses financial information to make strategic, technical and operational business decisions;
- Serve as a foundation for further financial studies to help them succeed in their undergraduate studies and future careers.
|1||Demonstrate an understanding of the information contained in a company's annual report||KPT|
|2||Prepare an Income statement, Statement of financial position and Cash Flow Statement||KCPT|
|3||Discuss the benefits and limitations of key financial statements||KCPT|
|4||Interpret Financial Statements using ratios||KCPT|
|5||Demonstrate an understanding of the different types and functions of budgets and forecasts and how they relate to the business environment||KCPT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Overall student workload
Independent Study Hours: 117
Lecture Hours: 22
Seminar Hours: 11
Methods of Teaching / Learning
The learning and teaching strategy is designed to: give students the opportunity to gain knowledge of the relevant theory and business practices and problems pertinent to the topics covered in the module, in addition to gaining the skills necessary to apply that knowledge in practice.
The learning and teaching methods include:
- Weekly 2 hour lecture to illustrate the principles and practice the application of principles
- Weekly 1 hour tutorial for application of theory utilising discussion and short and long problem solving
- Support of lecture/tutorial material by directed reading and exercises
- Surrey-Learn will be used as an information portal and will contain lecture notes, practical exercises, solutions to practical exercises, sample exam papers & model answers and relevant reading
- On-going feedback in class on an individual and group basis
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 for FINANCIAL ACCOUNTING : http://aspire.surrey.ac.uk/modules/man1099
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 2020/1 academic year.