FINANCIAL ACCOUNTING 2 - 2021/2
Module code: MAN2090
Accounting is concerned with measurement and management. Measurement is concerned with recording past data, and management with the use of that data to make decisions that will benefit the business.
Surrey Business School
SAHA Suman (SII DUFE)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 5
JACs code: N410
Module cap (Maximum number of students): N/A
Overall student workload
Independent Learning Hours: 117
Lecture Hours: 22
Seminar Hours: 11
Prerequisites / Co-requisites
Students must have completed Financial Accounting 1 (MAN1061)
Module content encompasses the following topics:
- Published financial statements for a limited company together with relevant notes;
- Statement of cash flows;
- Manufacturing Accounts
- Partnership Accounts
- Club accounts;
- Incomplete records
|Assessment type||Unit of assessment||Weighting|
|Online Scheduled Summative Class Test||ONLINE OPEN BOOK CLASS TEST SET DATE AND TIME (DURATION 50 MINS)||30|
|Examination Online||ONLINE OPEN-BOOK EXAM SET TIME AND DATE (DURATION 120 MIN)||70|
The assessment strategy is designed to provide students with the opportunity to demonstrate and apply knowledge accumulated in HEQ4 and 5.
Summative assessment for this module consists of:
- A mid-term closed-book class test which carries 30% of the total mark of this module. The test is in week 6 of the semester and covers syllabus covered from week 1 to 5.
- A closed-book examination based on the entire module content, carrying 70% of the total module marks.
Formative assessment and feedback
Students’ appreciation of the module will be assessed on an on-going basis through the weekly homework set and discussed in tutorials. Constant feedback is given, especially through the tutorial questions as well as the Surrey-learn discussions. Elements of self-assessment are also built into the tutorial questions. Students should attempt all the sample exam/test papers set on surrey-learn and check against the answers provided to take ownership of their studies. Students also have the opportunity to see tutor during office hours to discuss/obtain feedback on questions.
- Develop and expand on the knowledge brought forward from Financial Accounting 1 by further application of various international accounting standards and industry practices
- Explore the differences between the legal, financing and reporting structure of various business entities
- Prepare and interpret the financial statements for limited companies, clubs and partnerships applying both theoretical and practical knowledge
|001||Explain the difference between various company types including the differences in legal structure, ownership, financing and reporting requirements||KT|
|002||Construct an income statement and statement of financial position for limited companies, clubs and partnerships from a trial balance or from various other sources in the event of incomplete records||KCP|
|003||Prepare and analyse the statement of cash flows for limited companies||KCP|
|004||Analyse the financial statements of limited companies using ratio analysis in conjunction with their published annual reports||KCP|
|005||Explain and apply advanced financial reporting using various IFRSs and IASs||KCPT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Methods of Teaching / Learning
The learning and teaching strategy include the use of weekly two-hour tutorials and one hour drop-in session to illustrate the practical application supported by the theoretical aspects underpinning the applications. Students are also able to practice a range of weekly tutorial questions. Material covered in tutorials will be supported by directed reading and weekly homework exercises will be set to assess students’ appreciation and application on an on-going basis in addition to using the Electronic Voting System in tutorials. Surrey-learn will be used as an information portal and will contain lecture notes, practical exercises, solutions to practical exercises, past exam papers and class tests and model answers and relevant reading. Students are encouraged to post questions/answers and interact/discuss with fellow students on Surrey-learn especially when they are doing independent studying.
The learning and teaching methods include:
- Tutorials 2 hours per week x 11 weeks
- Drop-in sessions 1 hours per week x 11 weeks
- Use of EVS
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.
Upon accessing the reading list, please search for the module using the module code: MAN2090
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 2021/2 academic year.