Run by Bangor University International College

20.000 Credits or 10.000 ECTS Credits

Semester 1 & 2

Organiser:

The aim of this module is to provide an introduction to accounting in terms of theory and practice for students who intend to specialise in accounting or finance. It provides students with an understanding of the technical aspects of financial accounting with a focus on limited lability companies. It considers appropriate UK practice but focuses on International Accounting Standard practice.

a) Accounting records and their importance to commercial operations b) Source materials and their use in preparing journals/day-books and ledger accounts c) Recording credit and cash transactions using the system of double-entry bookkeeping; checking accuracy and preparing a trial balance d) Calculation of some key ratios and using these to provide an informed evaluation of a Statement of Financial Position and Income Statement e) Trading and profit and loss accounts, depreciation, stock inventories f) Main applications of ICT in financial accounting

good

Student has scored well in demonstrating a secure knowledge and understanding of many of the topics studied and has achieved a grade enabling progression onto the next phase of the master’s programme

excellent

Student has engaged consistently with all the topics of the module and so has clearly demonstrated a high level of suitability for the next phase of the master’s programme

threshold

Student has performed sufficiently well in demonstrating a basic knowledge and understanding of a number of topics studied to have achieved the lowest level of pass grades.

1. 4) Calculate some key ratios and demonstrate an understanding of how to use them to provide an evaluative interpretation of the Statement of Financial Position and the Income Statement

2. 1) Demonstrate an understanding of accounting concepts and conventions and the regulatory framework within which it operates

3. 2) Operate a manual accounting system using double entry book-keeping and prepare a trial balance in good form

4. 3) Demonstrate knowledge and understanding of a basic statement of Financial Position and Income Statement and the key terms included therein

5. 5) Examine computer based accounting records (SAGE), make appropriate entries and compare the electronic to the manual record system

Type	Name	Description	Weight
	1 written essay		30.00
	2 case study/report		30.00
	final exam		40.00

		Hours
Practical classes and workshops		120
Private study		80

• Numeracy - Proficiency in using numbers at appropriate levels of accuracy
• Computer Literacy - Proficiency in using a varied range of computer software
• Information retrieval - Able to access different and multiple sources of information
• Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.

• Demonstrate numeracy skills required as a basis for further studies in Economics, Financial Accounting and Management

1. Operate a manual accounting system
2. Use software package to create an electronic recording system

Resource implications for students

Students will need to purchase text book

Reading list

Core Reading: Benedict, A. and Elliott, B. (2008) Financial Accounting: An Introduction, Pearson Education

Supplementary Fortes, H (2011) Accounting Simplified Pearson Education Johal, P and Vickerstaff, B (2012) Financial Accounting, Hodder Education

Compulsory in courses:

• N4AM: MSc Accounting (with Incorporated Pre-Masters) year 0 (MSC/ACC1)
• N4AP: MSc Accounting and Finance (with Incorporated Pre-Masters) year 0 (MSC/ACCF1)
• N3CT: MSc Finance (with Incorporated Pre-Masters) year 0 (MSC/FIN1)
• N2AY: MSc Management and Finance (with Incorporated Pre-Masters) year 0 (MSC/MANF1)