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AC.F100: Introduction to Accounting and Finance
|Department: Accounting and Finance||NCF Level: FHEQ/QCF/NQF4//RQF4|
|Study Level: Part I||Credit Points: 40.0|
|Start Date: 09-10-2017||End Date: 25-05-2018|
|Available for Online Enrolment?: Y||Enrolment Restriction: Fully available to all students|
|Module Convenor: Mr AK Smerdon|
- Syllabus Rules and Lancaster Part II Pre-requisites
- Curriculum Design
- Assessment Weights
- Educational Aims
- Learning Outcomes
- Part 1 Modules Video
- Teaching Pattern
Syllabus Rules and Pre-requisites
- The following modules may not be taken:
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/Exclusions
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.
- 50% Exam
- 50% Coursework
Assessment: Details of Assessment
This module provides a comprehensive introduction to the basic concepts and techniques of Accounting and Finance, which include financial accounting, managerial finance, and financial statement analysis.
An important element of this module is that it provides exposure to the business and financial environment within which the discipline of Accounting and Finance operates, using real-world financial data for actual companies.
The module covers concepts, techniques and interpretive skills that relate to the external financial reporting of companies and their relationship to the stock market, and to the use of accounting information for internal management purposes.
Educational Aims: Subject Specific: Knowledge, Understanding and Skills
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 Skills
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.
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