FINANCIAL ACCOUNTING - 2017/8

Module code: MAN1099

Module provider

Hospitality & Tourism Management

Module Leader

LIU A Dr (Hosp & Tour)

Number of Credits

15

ECT Credits

7.5

Framework

FHEQ Level 4

JACs code

N400

Module cap (Maximum number of students)

N/A

Module Availability

Semester 2

Overall student workload

Lecture Hours: 20

Seminar Hours: 12

Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test 60 MINUTE MIDTERM (WEEK 7) TEST (CLOSED BOOK) 30
Examination 2 HOUR EXAM (CLOSED BOOK) 70

Alternative Assessment

Not applicable

Prerequisites / Co-requisites

None.

Module overview

This module is intended to provide an introduction to accounting and finance.  It is aimed at students who are not majoring in accounting or finance but who are studying introductory level accounting and finance as part of their programme in management and is particularly focused on students specialising in the Hospitality, Tourism and Events sectors. 

Module aims

The principal types of accounting structures including for profit; not-for-profit, sole proprietorships; partnerships and limited companies;

The relevance of financial reports and analysis;

How and why data is recorded;

Preparation and interpretation of financial information;

How management uses financial information to make strategic, technical and operational business decisions;

Serve as a foundation for further financial studies to help them succeed in their undergraduate studies and future careers.

Learning outcomes

Attributes Developed
Demonstrate an understanding of the information contained in a company's annual report KPT
Prepare an Income statement, Statement of financial position and Cash Flow Statement KCPT
Discuss the benefits and limitations of key financial statements KCPT
Interpret Financial Statements using ratios KCPT
Demonstrate an understanding of the different types and functions of budgets and forecasts and how they relate to the business environment KCPT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Module content

Indicative content includes:


Introduction to accounting and finance – users; purpose; principal accounting structures
The key financial statements – Statement of Cashflows; Income Statement; Statement of Financial Position
Understanding of key additional information contained in published annual reports
Accounting concepts and accounting adjustments
Interpretation of Accounts
The importance of working capital to the operations of a business
Budgets & forecasts – types & functions

Methods of Teaching / Learning

The learning and teaching strategy is designed to: give students the opportunity to gain knowledge of the relevant theory and business practices and problems pertinent to the topics covered in the module, in addition to gaining the skills necessary to apply that knowledge in practice.

The learning and teaching methods include:


Weekly 2 hour lecture to illustrate the principles and practice the application of principles
Weekly 1 hour tutorial for application of theory utilising discussion and short and long problem solving
Support of lecture/tutorial material by directed reading and exercises
Surrey-Learn will be used as an information portal and will contain lecture notes, practical exercises, solutions to practical exercises, sample exam papers & model answers and relevant reading
On-going feedback in class on an individual and group basis

Assessment Strategy

The module has number of learning outcomes that directly related to the topics delivered in various weeks. The assessments are designed to capture learning in all the topics. The midterm test consists of multiple choice questions and exercises, and it will assess students on the topics covered over the first 4 weeks. The final exam will assess students’ ability to prepare company accounts, analyse them and discuss the role of auditors and agency theory. 

Where students require ALS arrangements for the mid-term test, these will be identified and addressed as required.

Opportunities for formative feedback will be provided through in-class discussions, example multiple choice questions and SurreyLearn discussion forums. 

The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of both the theoretical concepts and their practical application.

The summative assessment for this module consists of:

A 60 minutes class-test (30%) scheduled at the mid-point of the course

A two hour closed-book final exam (70%) during the examination period

Formative assessment and feedback

Formative feedback will be given on a continuous manner during the course of the module.  Numerous questions are set for completion in tutorials and additional questions given for homework. In doing these, students are not only gaining invaluable practice in preparation for the formal assessments but are also given an opportunity to show their workings and receive additional explanation and help from tutors where needed.

Reading list

Reading list for FINANCIAL ACCOUNTING : http://aspire.surrey.ac.uk/modules/man1099

Programmes this module appears in

Programme Semester Classification Qualifying conditions
International Event Management BSc (Hons) 2 Compulsory A weighted aggregate mark of 40% is required to pass the module
International Hospitality and Tourism Management BSc (Hons) 2 Compulsory A weighted aggregate mark of 40% is required to pass the module
International Hospitality Management BSc (Hons) 2 Compulsory A weighted aggregate mark of 40% is required to pass the module
International Hospitality Management MBus 2 Compulsory A weighted aggregate mark of 40% is required to pass the module
International Tourism Management BSc (Hons) 2 Compulsory A weighted aggregate mark of 40% is required to pass the module
International Tourism Management MBus 2 Compulsory A weighted aggregate mark of 40% is required to pass the module

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.