Modiwl ASB-2515:
Financial Accounting 1

Ffeithiau’r Modiwl

Rhedir gan Bangor Business School

10.000 Credydau neu 5.000 Credyd ECTS

Semester1

Trefnydd: Dr Sara Closs-Davies

Amcanion cyffredinol

NOTE: If you are registered for BA/BSc Accounting and Finance, you must achieve a grade of at least 40% in this module in order to proceed to Year 3.

To provide advanced coverage of financial accounting and financial reporting, by examining the objectives and contents of selected key international accounting and financial reporting standards. The focus will be on the presentation of financial statements for publication, consolidated financial statements for groups of companies, equity accounting for associated companies, and tangible and intangible non-current and current assets. In each case current international accounting standards will be critically examined in the context of the range of accounting methods available.

Cynnwys cwrs

Presentation of financial statements under international accounting standards; accounting for, and costing, inventory; property, plant & equipment, including investment property; government grants; intangible assets; impairment of assets; legal requirements of group accounting and preparation of financial statements for groups; accounting for associated companies.

Meini Prawf

trothwy

D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

dda

B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

rhagorol

A- to A+ (70%+): Outstanding Performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

C- i C+

C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Canlyniad dysgu

  1. Apply a critical and analytical approach to accounting and the development of accounting and financial reporting standards.

  2. Understand the objective, development and application of international accounting and financial reporting standards in relation to the presentation of financial statements, non-current assets, and inventory.

  3. Prepare consolidated financial statements, including associates, in accordance with international accounting and financial reporting standards.

  4. Understand the different types of relationships that can exist when a company invests in another company, including associates and subsidiaries, and apply the appropriate accounting methods.

Dulliau asesu

Math Enw Disgrifiad Pwysau
EXAM End of semester exam

The exam assess any aspect of the module's syllabus, and will mainly require computationally-based answers.

 60.00
CLASS TEST Online class test mid-semester

Online test multiple-questions test which assesses the topics discussed during the first six lectures.

 40.00

Strategaeth addysgu a dysgu

Oriau
Workshop

Workshops are an opportunity to work through practice questions and discuss elements of the module's syllabus. There are five workshops during the semester.

 5
Lecture

One 2-hour lecture per week which will include the use of worked examples to demonstrate accounting computations.

 20
Private study

Self-study, to include: - reading; - preparation towards lectures and tutorials; - practising and working on lecture and tutorial material; - practising and answering additional questions, including past exam papers and class tests, textbooks etc.; and - preparation towards the exam and class test.

 75

Sgiliau Trosglwyddadwy

  • Literacy - Proficiency in reading and writing through a variety of media
  • Numeracy - Proficiency in using numbers at appropriate levels of accuracy
  • Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
  • Exploring - Able to investigate, research and consider alternatives
  • Information retrieval - Able to access different and multiple sources of information
  • Inter-personal - Able to question, actively listen, examine given answers and interact sentistevely with others
  • 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.
  • Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
  • Self-awareness & Reflectivity - Having an awareness of your own strengths, weaknesses, aims and objectives. Able to regularly review, evaluate and reflect upon the performance of yourself and others

Sgiliau pwnc penodol

  • knowledge of some of the contexts in which accounting can be seen as operating (examples of contexts include the legal, ethical, social and natural environment; the accountancy profession; the business entity; the capital markets; the public sector)
  • knowledge of the main current technical language and practices of accounting (for example, recognition, measurement and disclosure in financial statements; managerial accounting; auditing; taxation) in a specified socio-economic domain
  • knowledge of some of the alternative technical languages and practices of accounting (for example, alternative recognition rules and valuation bases, accounting rules followed in other socio-economic domains, alternative managerial accounting approaches to control and decision-making)
  • skills in recording and summarising transactions and other economic events; preparation of financial statements; analysis of the operations of business (for example, decision analysis, performance measurement and management control); financial analysis and projections (for example, analysis of financial ratios, discounted cash flow analysis, budgeting, financial risks)
  • knowledge of contemporary theories and empirical evidence concerning accounting in at least one of its contexts (for example, accounting and capital markets; accounting and the firm; accounting and the public sector; accounting and society; accounting and sustainability) and the ability to critically evaluate such theories and evidence age
  • An ability to understand financial statements, and a basic appreciation of the limitations of financial reporting practices and procedures (eg financial statement analysis; the relation between cash flow accounting and accrual accounting; discretionary accounting practices).
  • Ability to work with people from a range of cultures.
  • Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.
  • Self reflection: self-analysis and an awareness/sensitivity to diversity in terms of people and cultures. This includes a continuing appetite for development.

Adnoddau

Goblygiadau o ran adnoddau ar gyfer myfyrwyr

Students are advised to purchase the core textbook for the course.

Rhestr ddarllen Talis

http://readinglists.bangor.ac.uk/modules/asb-2515.html

Rhestr ddarllen

Core textbook: Elliott, B. & Elliott, J. 2019. Financial Accounting and Reporting. 19th Edition, Pearson.

Rhagofynion a Chydofynion

Cyrsiau sy’n cynnwys y modiwl hwn

Gorfodol mewn cyrsiau:

Opsiynol mewn cyrsiau: