Program Overview

Module Overview

The module introduces students to Financial Accounting by covering fundamental accounting concepts and their application in the maintenance of the ledgers and preparation of financial statements.

Module Details

• Module code: MAN1061
• Module provider: Surrey Business School
• Module Leader: MATHEW Benita Rose (SBS)
• Number of Credits: 15
• ECTS Credits: 7.5
• Framework: FHEQ Level 4
• Module cap (Maximum number of students): N/A

Module Content

Indicative content includes:

• The framework of accounting and accounting concepts and characteristics
• Ledger accounts and double-entry bookkeeping
• Accounting adjustments including depreciation, bad and doubtful debts, accruals, and prepayments
• Preparation of final financial statements for sole traders
• Bank reconciliations
• Control and suspense accounts
• Methods used to detect and correct errors in accounts

Assessment Pattern

Assessment type | Unit of assessment | Weighting
---|---|---
School-timetabled exam/test | School-timetabled exam/test 50 min | 30
Examination | Examination 120 min | 70

Alternative Assessment

Not applicable

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate their knowledge and understanding to produce financial statements for a sole-trader and their ability to produce and analyze detailed calculations for fundamental accounting concepts.

Module Aims

• Provide a solid grounding in fundamental accounting concepts
• Apply these concepts in the maintenance of the ledgers
• Prepare and produce the financial statements for a sole trader

Learning Outcomes

| | Attributes Developed
---|---|---
001 | Record the framework of accounting and prepare accounting entries using double entry bookkeeping | KP
002 | Explain and distinguish between capital and revenue expenditure, cash and profit, income and expenditure, assets and liabilities | K
003 | Calculate depreciation for presentation in the financial statements and complete the accounting entries required on disposal of Non-current assets | K
004 | Record accounting entries relating to irrecoverable debts and accruals & prepayments and explain how and why accounting concepts are applied (e.g. accruals, prudence, matching, duality) | KCPT
005 | Prepare the income statement and statement of financial position for a sole-trader, from a trial balance with relevant adjustments and detect and correct any errors in the books of account. | KCPT

Attributes Developed:

• C - Cognitive/analytical
• K - Subject knowledge
• T - Transferable skills
• P - Professional/Practical skills

Methods of Teaching / Learning

The learning and teaching strategy is designed to give students the opportunity to gain knowledge and understanding of financial accounting and equip them with a practical awareness to produce accounts and calculations for a sole trader.

Programmes this Module Appears In

Programme | Semester | Classification | Qualifying conditions
---|---|---|---
Accounting and Finance BSc (Hons) | 1 | Compulsory | A weighted aggregate mark of 40% is required to pass the module

Other Information

Surrey Business School is committed to developing graduates with strengths in Employability, Digital Capabilities, Global and Cultural Capabilities, Sustainability, and Resourcefulness and Resilience. This module is designed to allow students to develop knowledge, skills, and capabilities particularly in these areas.