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ACCT1021: ACCOUNTING AND FINANCE IN BUSINESS

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Type	Open
Level	1
Credits	20
Availability	Not available in 2024/2025
Module Cap	None.
Location	Durham
Department	Accounting

Prerequisites

GCSE Mathematics at grade A.

Corequisites

None.

Excluded Combinations of Modules

None.

Aims

To develop an understanding of the purpose and production of a wide range of financial reports, through study of the fundamentals of financial accounting and management accounting.
To provide an introduction to financial management and sources of finance, thereby laying foundations for further study in the area.
To promote development of a set of key skills.

Content

The nature and role of accounting information, including its limitations
The spectrum of users' information needs
Presentation and interpretation of financial accounts
Generation and interpretation of information for internal use within the organisation, for the purposes of cost control, budgeting and decision-making.
The structure of the company, principles of corporate governance and the role of the financial manager.
Sources of funds, management of working capital and introductory investment appraisal.

Learning Outcomes

Subject-specific Knowledge:

By the end of the module students should
Be able to demonstrate an appreciation of the role of accounting information, including its limitations
Have an understanding of fundamental accounting principles
Have an appreciation of the uses and value of accounting and financial information to the managers of an organisation.
Have an appreciation of financial management and of the range of sources of finance available

Subject-specific Skills:

By the end of the module students should
Be able to apply fundamental accounting principles and be able to prepare and interpret simple financial statements
Be able to prepare and interpret a range of reports of use to financial managers of an organisation
Be able to apply basic investment appraisal techniques

Key Skills:

Written communication and numeracy: through the examination.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

Teaching is by lectures and seminars. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes, and private study. Formative assessment is by means of multiple-choice tests. Summative assessment is by means of a written examination to test students' knowledge and understanding of the subject-matter.

Teaching Methods and Learning Hours

Activity	Number	Frequency	Duration	Total	Monitored
Lectures	40	2 per week in terms 1&2	1 hour	40
Seminars	8	4 per term in terms 1&2	1 hour	8	Yes
Revision sessions	4	2 per week	1 hour	4
Preparation and Reading				148
Total				200

Summative Assessment

Component: Examination		Component Weighting: 100%
Element	Length / Duration	Element Weighting	Resit Opportunity
One written examination	2 hours	100	Same

Formative Assessment

Multiple choice tests

More information

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