FINANCIAL ACCOUNTING - 2017/8
Module code: ECO2055
HINDS S Mr (SBS)
Number of Credits
FHEQ Level 5
Module cap (Maximum number of students)
Overall student workload
Independent Study Hours: 128
Lecture Hours: 22
|Assessment type||Unit of assessment||Weighting|
|School-timetabled exam/test||CLASS TEST - 50 MINUTES||30|
|Examination||2 HOUR EXAM (CLOSED BOOK)||70|
Prerequisites / Co-requisites
The module examines the processes which underlie the preparation of the financial statements of listed companies in Europe which are the main source of financial information available to external stakeholders, and the assessment of an organisation’s performance through analysis and interpretation of its financial statements.
help students by providing a broad introduction to the main principles of financial accounting
help students to become familiar with and make sense of the reports of listed companies.
|1||Discuss the conceptual framework of accounting and its evolution; the Statement of Principles and accounting concepts; the statutory / non statutory rules which surround accounting for the different types of business entity (including groups of companies)||KC|
|2||Explain the function and key features of the main financial statements (financial position statement, income statement and cash flow statement) and their limitations.||KC|
|3||Identify the key transactions which impact on each asset or liability||KCP|
|4||Discuss the performance review process and its limitations||KC|
|5||Interpret financial statements and discuss performance in terms of both profit and cash||KCP|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Indicative content includes:
Overview: Financial Position Statement / Income Statement and the underlying transactions which create them.
Accounting framework: accounting concepts and conventions, accounting standards; valuation
Evaluation of results: performance analysis tools; cash flow statements
Methods of Teaching / Learning
The learning and teaching strategy is designed to:
enhance skills in information processing, evaluation and written and verbal presentation
appreciate the complexities of a framework designed to maintain clarity, consistency and comparability in financial reporting in Europe
The learning and teaching methods include:
2 hour lecture/class including illustrative practical exercises per week x 11 weeks
The assessment strategy is designed to provide students with the opportunity to demonstrate
their knowledge of the accounting framework and the manner in which a range of transactions would be reflected in the financial statements
their ability to use the performance analysis tools and evaluate the results shown in a listed company financial report
Thus, the summative assessment for this module consists of:
A mid-semester test that assesses students’ understanding of the accounting framework and the manner in which a range of transactions would be reflected in the financial statements. Written and computational questions
A final semester exam
Formative assessment and feedback
Students will receive verbal feedback during lectures through direct questioning, also from class exercises which will challenge their understanding of the building blocks.
Class exercises and indicative questions given before the test, will be the basis of the midsessional test – students will be encouraged to research these and ask questions. After the class test students will be able to view their marked script so that they can judge their own performance and ask further questions to prepare for the final exam.
Reading list for FINANCIAL ACCOUNTING : http://aspire.surrey.ac.uk/modules/eco2055
Programmes this module appears in
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2017/8 academic year.