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AC2530: FINANCIAL ACCOUNTING 2 (2017-2018)

Last modified: 31 Aug 2017 13:45


Course Overview

The objective of FA2 is to build upon material introduced in first year in order to develop students'  technical skills in financial statement preparation. Students will gain an appreciation of the regulatory framework for financial reporting. They will examine the usefulness of financial statement information, by looking at the form and content of accounts produced by partnerships and public limited companies.  Students will explore how to account for basic transactions through the implementation of current accounting standards and apply their knowledge in both the manual and the computerised environment, the latter through the SAGE accounting package.

Course Details

Study Type Undergraduate Level 2
Session Second Sub Session Credit Points 15 credits (7.5 ECTS credits)
Campus None. Sustained Study No
Co-ordinators
  • Mrs Lindsay Tibbetts

Qualification Prerequisites

  • Programme Level 2

What courses & programmes must have been taken before this course?

  • One of AC1513 Accounting and Entrepreneurship (Passed) or AC1514 Accounting and Entrepreneurship (Passed) or AC1515 Accounting and Entrepreneurship (Passed)
  • Any Undergraduate Programme (Studied)

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

Are there a limited number of places available?

No

Course Description

  1. Introduction & overview
  2. Types of business organisations
  3. Regulation and governance of companies: ASB & IASB
  4. Cash flow statements 1
  5. Non-current assets
  6. Liabilities
  7. Provisions, contingent assets & liabilities
  8. Accounting for groups, associates and foreign operations

Degree Programmes for which this Course is Prescribed

  • Accountancy Joint
  • Accountancy Major
  • MA Accountancy
  • MA Accountancy-Finance
  • MA Accountancy-Legal Studies

Contact Teaching Time

58 hours

This is the total time spent in lectures, tutorials and other class teaching.

Teaching Breakdown


Assessment

1st Attempt: 1 two-hour examination (70%); in-course assessment (30% = 20% weekly hand ins/presentations + 10% SAGE assignment). All students will be required to sit an in-course double entry book-keeping test. Failure to pass the test after three attempts will result in the withdrawal of their class certificate.
Resit: 1 two-hour examination (100%)

Formative Assessment

This will take place via seminar discussions and availability of a specimen exam with model answers.

Feedback

Written feedback is given on the seminar tests and individual assessments.
On a less formal basis, via verbal feedback during tutorial discussions.

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