Department:Accounting and Finance
Course Convenor:Dr S Talib
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The following modules may not be taken:
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CMod descriptionback to top
This course provides an overview of accounting and finance. It includes: an introduction to the methods used by accountants to record, report, and interpret business information; the preparation and presentation of published accounts of UK companies; basic financial mathematical techniques; investment appraisal methods; financing methods and determining the cost of capital for firms; an introduction to financial environment of companies.
Curriculum Design: Pre-requisites/Co-requisites/Exclusionsback to top
Compulsory for which categories of student:
Intended major or joint major in Accounting and Finance degree schemes.
Entry requirements to the particular course:
There are no specific 'A' level entry requirements for Part I Accounting and Finance. However, at least a grade 'B' in GCSE Mathematics is required. Accounting and Finance at Part I level does not require advanced mathematical training, but does demand an ability to handle numbers and basic mathematical expressions.
Students intending to proceed to major in Accounting and Finance at Part II who do not possess an
A-level in a mathematical subject are very strongly advised to take an appropriate quantitative methods course in their first year as advised by the Department (eg Management Science). This is (a) to develop confidence in their ability to use mathematical methods; (b) to enable them to cope with two compulsory statistics and quantitative methods courses in their second year; and (c) to open up quantitatively orientated options in the third year of the degree. Students intending to major in Finance or in Finance and Economics must have at least a grade 'B' in GCSE mathematics and are required to take appropriate quantitative or mathematical courses if they have not passed A-level mathematics at grade 'C' or better.
What must be taken with the course (the co-requisites):
All students registering for the Part I course in Accounting and Finance (AC.F 100) must register concurrently for Part I Economics if they wish to proceed to a major or joint major programme including Accounting or Finance at Part II. In addition to the major schemes in Accounting and Finance, in Finance and Accounting, Auditing and Finance, there are joint degrees in Accounting with other subjects including Economics, Mathematics or Computer Science. There is also a joint degree in Finance and Economics. There are also Business Studies degrees majoring in Accounting or Finance.
Educational Aims: Subject Specific: Knowledge, Understanding and Skillsback to top
This course aims to introduce students to studies in both Accounting and Finance, as well as providing students an overview of the links between accounting and finance and the wider business world. The course consists of four distinct parts: (i) financial accounting; (ii) managerial finance; (iii) financial statement analysis; and (iv) the business environment. Some sections of the course are taught by means of lectures, workshops and tutorials, whilst other parts of the course are primarily completed through self-study or group working.
The course is designed to act as the foundation for students wishing to undertake future study in the subject as a majoring student, as well as offering consortial and minoring students an opportunity to gain an overview of the subject whether they wish to follow further study or not. The course will introduce you to the key subject areas of Accounting and Finance, and its Business Environment. This is will involve study of the following aspects:
1. The basic principles of financial accounting and the techniques used in preparing accounts.
2. The concepts of finance and the operation of financial markets.
3. The analysis of businesses financial strategies based upon their financial statements; and
4. How accounting and finance fits into the wider business world.
Learning Outcomes: Subject Specific: Knowledge, Understanding and Skillsback to top
After following this course you should be able to:
- Appreciate the distinction between internal and external reporting, and the demands of different users of external financial reporting.
- Analyse and record basic transactions using double entry book-keeping and to prepare basic balance sheets and profit and loss accounts.
- Understand how financial markets work and appreciate the importance of financial management.
- Use financial models to make decisions between competing investments.
- Use a number of techniques to interpret and analyse a set of financial statements.
- Express your understanding of conceptual and practical issues relating to Accounting and Finance orally and in writing.
- Work in a group, and complete group-written reports and oral presentations.
Assessment: Details of Assessmentback to top
Assessment method and timing:
The course involves lectures, workshops and tutorials. The nature of the course demands careful study and regular practice in accounting and finance techniques. There is also a range of required background reading on the context and rationale for Accounting and Finance.
Assessment for this course is by 50% coursework and 50% examination. The coursework assessments may include class tests under examination conditions, homework essays and reports, or presentations. Some coursework will be assessed on an individual basis and other elements will be based upon a group allocated mark. The regular coursework assessments are intended to provide students useful feedback on their understanding of key topic areas as the course progresses.
A guide of the coursework assessments for the academic year is presented below (Note this is subject to change):
The coursework component (50%) comprises the following four elements:
1. Financial Accounting (10%) in Term 1, a mid-term multiple-choice test (2.5%) and an end of term test (7.5%).
2. Managerial Finance (10%) in Term 2, a mid-term multiple-choice test (2.5%) and an end of term test (7.5%).
3. Business Environment project (25%), in Term 1, a group written report analysing source materials (5%). In Term 2, an individual written essay of 1,250 words (10%) and, in Term 3, a group report of 2,000 words (5%) and group presentation (5%).
4. Course participation (5%), this comprises two elements:
- Tutorial attendance (2% for eighty percent or more attendance at tutorials, 1% for 70% or more attendance, and zero for attendance lower than 70%. Only specifically condoned absences will be allowed under exceptional circumstances), and
- Tutorial preparation (3% for tutorial written preparation, which will be taken in without prior notice by tutors and perused for two or three tutorials in each of the first two terms, and for one or two tutorials in the Summer term).
Please note: The Department reserves the right to adjust coursework marks after coursework has been returned to students in order to ensure that the coursework marks have an appropriate distribution.
The examination component (50%) comprises a single three-hour examination in Summer 2012 of four sections. Section A, Financial Accounting, will be one question from two, and Section B, Managerial Finance, also one question from two. Section C, the Business Environment, will comprise two questions from four on the Business Environment, and Section D will comprise one question from two on Financial Statement Analysis and Financial Environment. Sections A and B will comprise one third of the paper each, and Sections C and D one sixth of the paper each.
In order to proceed to Part II of your degree, for most subjects you need to get an overall mark of at least 45% in your major subject and at least 40% in your other subjects.
To major in Accounting and / or Finance degrees in addition to getting 45% overall in Accounting & finance, you must also get 40% on the examination component and 40% in the coursework component. Certain other degrees have additional requirements, not discussed here. You are advised to check these requirements with your programme director.
Curriculum Design: Select Bibliographyback to top
The main texts for the course are:
For the Michaelmas term you are expected to purchase a custom-made book for Ac.F100. It will be used extensively throughout the financial accounting segment of the course.
Taylor, P. and Beekes, W. (2011) Introduction to Accounting and Financial Statement Analysis, 2nd Edition, Harlow: Pearson Education Limited.
A reading material pack is available to purchase. The pack contains articles and chapters from academic and professional journals, business magazines and books. You are expected to be familiar with the contents of this essential readings material pack in independent study.