Module Database Search
| MODULE DESCRIPTOR | |||
|---|---|---|---|
| Module Title | |||
| Fundamentals of Financial and Management Accounting | |||
| Reference | BS1071 | Version | 5 |
| Created | January 2024 | SCQF Level | SCQF 7 |
| Approved | May 2019 | SCQF Points | 30 |
| Amended | March 2024 | ECTS Points | 15 |
| Aims of Module | |||
|---|---|---|---|
| To develop knowledge and basic skills in financial accounting, financial reporting and management accounting. | |||
| Learning Outcomes for Module | |
|---|---|
| On completion of this module, students are expected to be able to: | |
| 1 | Explain the principles of financial and management accounting. |
| 2 | Record financial transactions and adjustments and prepare an extended trial balance. |
| 3 | Prepare basic financial statements for limited companies. |
| 4 | Apply basic costing techniques for profit measurement and decision making. |
| 5 | Describe the fundamental principles of ethics for accountants as outlined in the professional codes. |
| Indicative Module Content |
|---|
| Introduction to financial and management accounting; accounting concepts; double entry book keeping; books of prime entry; journals; non-current assets; accruals accounting; period end procedures; extended trial balance; income statement; statement of financial position; types of entity: sole traders, partnerships, limited companies, manufacturing and not for profit organisations; financial reporting requirements and regulation; cost classification; absorption costing; cost-volume-profit analysis; application of professional ethical guidelines to dilemmas faced. |
| Module Delivery |
|---|
| The module is delivered in Blended Learning mode using structure online learning materials/activities and directed study, facilitated by regular online tutor support. Workplace Mentor support and work-based learning activities will allow students to contextualise this learning to their own workplace. Face-to-face engagement occurs through annual induction sessions, employer work-site visits, and modular on-campus workshops. |
| Indicative Student Workload | Full Time | Part Time |
|---|---|---|
| Contact Hours | 30 | N/A |
| Non-Contact Hours | 30 | N/A |
| Placement/Work-Based Learning Experience [Notional] Hours | 240 | N/A |
| TOTAL | 300 | N/A |
| Actual Placement hours for professional, statutory or regulatory body | 228 |
| ASSESSMENT PLAN | |||||
|---|---|---|---|---|---|
| If a major/minor model is used and box is ticked, % weightings below are indicative only. | |||||
| Component 1 | |||||
| Type: | Examination | Weighting: | 70% | Outcomes Assessed: | 1, 2, 3, 5 |
| Description: | Closed book examination | ||||
| Component 2 | |||||
| Type: | Examination | Weighting: | 30% | Outcomes Assessed: | 4 |
| Description: | Closed book examination | ||||
| MODULE PERFORMANCE DESCRIPTOR | ||||||||
|---|---|---|---|---|---|---|---|---|
| Explanatory Text | ||||||||
| The Module is assessed by two components: C1 - Examination - 70% weighting (vertical axis). C2 - Examination (horizontal axis) - 30% weighting. Module Pass Mark = Grade D. | ||||||||
| Examination: | ||||||||
| Examination: | A | B | C | D | E | F | NS | |
| A | A | A | B | B | E | E | ||
| B | B | B | B | C | E | E | ||
| C | B | C | C | C | E | E | ||
| D | C | C | D | D | E | E | ||
| E | E | E | E | E | E | E | ||
| F | E | E | E | E | F | F | ||
| NS | Non-submission of work by published deadline or non-attendance for examination | |||||||
| Module Requirements | |
|---|---|
| Prerequisites for Module | None. |
| Corequisites for module | None. |
| Precluded Modules | None. |
| INDICATIVE BIBLIOGRAPHY | |
|---|---|
| 1 | DRURY, C. and TAYLES, M., 2023. Management and Cost Accounting. 12th Edition. Andover: Cengage Learning. |
| 2 | MCLANEY, E. J. and ATRILL, P., 2020. Accounting and finance: an introduction. 10th edition. Harlow: Pearson. |
| 3 | SANGSTER, A., GORDON, L., and WOOD, F., 2021. Frank Wood's Business Accounting: an introduction to financial accounting. 15th edition. Harlow: Pearson. |