Introduction to Financial Accounting

Description

This initial Accounting and Finance module provides a firm foundation on which to build further study. Assuming no prior knowledge of accounting, you will begin with an introduction to the subject, its purpose, its role and its limitations. The published accounts of every business remain the main vehicle by which it tells the outside world about its performance, solvency, cashflow and investor attractiveness. You will learn the basic language of accounting and use this knowledge to prepare examples of the two principal accounting statements. You will also examine different organisation types from sole traders through partnerships to limited companies and learn aspects of their legal, tax and accounting characteristics. You will also study aspects of the various sources of finance available to businesses. Finally, you will learn how to analyse business performance using accounting ratios and to extract useful information from statements of cash flow. Location/Method of Study Stirling, On Campus/On Campus, UK Additional Costs There are no additional costs associated with this Module. Core Learning Outcomes On successful completion of the module, you should be able to: explain the processes, benefits and limitations of accounting and how this relates to meeting the informational needs of different types of business organisation; utilise trial balance information and appropriate adjustments, to prepare commonly used accounting statements; calculate and apply ratio analysis to interpret accounting statements, including the analysis of statements of cash flow. Introductory Reading and Preparatory Work Gowthorpe C (2021) Business Accounting and Finance, 5th edition (Cengage). Delivery Independent Study Hours 170 hours Independent activities required to complete the module Total Study Time 200 hours Attendance Requirements Your engagement with the learning content, any live sessions, and offline collaboration and task completion is extremely important. Full engagement in your studies will enable you to get the most out of the course and help you perform at your best when it comes to assessment. We expect you to engage with all aspects of this module and with your programme of study. Engagement in online and digital learning provides a range of monitoring indicators and analytics to the module staff. We will use these throughout the semester to help identify those students who have limited participation so that we can provide appropriate support and guidance. It is therefore essential that you: Engage with all sessions outlined in the timetable of activity provided in this module Actively participate in the formative tasks set in the module and work through the content provided in full Prepare in advance by undertaking the required reading and/or other forms of preparation Attend meetings with your personal tutor, module co-ordinator or programme director if requested (these will likely be via Teams) Engage in extra-curricular events, groups and meetings where provided which are designed to support and inform your studies Attend in-sessional English language classes (if applicable) Submit coursework/assessment by the due time and date Submit class tests at the specified time and date Make your module co-ordinator aware at the earliest opportunity if you experience problems which may impact on your engagement Inform the University of absence (planned or unplanned), e.g. illness, emergency as outlined at: http://www.stir.ac.uk/registry/studentinformation/absence Assessment % of final grade Learning Outcomes Class Test 20 2,1 Class Test 20 2,1 Exam (Canvas - on campus) 60 1,2,3 Coursework: 40% Examination: 60% Available to Visiting Study Abroad Students? Yes