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Session: 2022/23
Last modified: 08/04/2022 10:23:40
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Title of Module: Strategic Financial Accounting |
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Code: ACCT11023 |
SCQF Level: 11
(Scottish Credit and Qualifications Framework) |
Credit Points: 20 |
ECTS: 10
(European Credit Transfer Scheme) |
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| School: | School of Business & Creative Industries |
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| Module Co-ordinator: | Dalia
Alazzeh |
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| Summary of Module |
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The purpose of the module is to equip students with detailed knowledge of the practice of financial accounting and the financial reporting environment together with an understanding of the theoretic underpinning of the subject area. The module aims to provide students with an in-depth understanding of financial accounting information required at higher or strategic levels of commercial organisations. The module content also reflects the requirements of professional accountancy qualifications and so offers a route into professional accountancy.
Students will cover the procedures for recording and summarising financial information, including the preparation of financial statements for different types of business entity (sole traders, partnerships, limited companies) as well as explore the issues and procedures for more complex business combinations within Group Accounting.
The principles of the regulatory and control environments together with the conceptual frameworks will be evaluated. Students will investigate the information requirements of various stakeholder groups and relate this to critical discussion of stakeholder theory. Students will develop techniques in interpreting and communicating the significance of financial results.
Of significant importance in the module is the development of a critical understanding of financial accounting that is consistent with a Master’s degree
- The purpose of the module is to equip students with detailed knowledge of the practice of financial accounting and the financial reporting environment together with an understanding of the theoretic underpinning of the subject area
- The module aims to provide students with an in-depth understanding of financial accounting information required at higher or strategic levels of commercial organisations.
- The module content also reflects the requirements of professional accountancy qualifications and so offers a route into professional accountancy.
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| Module Delivery Method |
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| Face-To-Face | Blended | Fully Online | HybridC | HybridO | Work-based Learning |
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Face-To-Face
Term used to describe the traditional classroom environment where the students and the lecturer meet synchronously in the same room for the whole provision.
Blended
A mode of delivery of a module or a programme that involves online and face-to-face delivery of learning, teaching and assessment activities, student support and feedback. A programme may be considered “blended” if it includes a combination of face-to-face, online and blended modules. If an online programme has any compulsory face-to-face and campus elements it must be described as blended with clearly articulated delivery information to manage student expectations
Fully Online
Instruction that is solely delivered by web-based or internet-based technologies. This term is used to describe the previously used terms distance learning and e learning.
HybridC
Online with mandatory face-to-face learning on Campus
HybridO
Online with optional face-to-face learning on Campus
Work-based Learning
Learning activities where the main location for the learning experience is in the workplace.
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| Term(s) for Module Delivery |
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(Provided viable student numbers permit).
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| Term 1 | | Term 2 | | Term 3 | |
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| Learning Outcomes: (maximum of 5 statements) |
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On successful completion of this module the student will be able to:
L1.
Develop an in-depth knowledge of financial accounting practice
L2.
Critically evaluate the theories, principles and concepts of financial accounting
L3.
Exhibit an advanced understanding of the complex issues arising from analysis and interpretation of financial accounting information
L4.
Develop a critical understanding of current issues in financial accounting |
| Employability Skills and Personal Development Planning (PDP) Skills |
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| SCQF Headings |
During completion of this module, there will be an opportunity to achieve
core skills in:
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| Knowledge and Understanding (K and U) |
SCQF Level 11.
Demonstrate a critical understanding of the principle theories and concepts of financial accounting:
A systematic knowledge and understanding of financial accounting issues informed by the current academic discipline.
A critical understanding of a range of key concepts, theories and techniques based on research findings that underpin the study and practice of financial accounting.
Continue to advance their knowledge and understanding, and develop new skills to a high level. |
| Practice: Applied Knowledge and Understanding |
SCQF Level 11.
Use a significant range of practical skills and techniques associated with the practice of financial accounting.
Demonstrate a comprehensive understanding of the frameworks underpinning financial accounting. |
| Generic Cognitive skills |
SCQF Level 11.
Deal with complex issues within the context of the regulatory and conceptual frameworks. |
| Communication, ICT and Numeracy Skills |
SCQF Level 11.
Using appropriate ICT resources, communicate financial information in a persuasive manner to specialist and non-specialist audiences.
Undertake a critical evaluation on a range of numerical and narrative financial accounting data. |
| Autonomy, Accountability and Working with others |
SCQF Level 11.
Demonstrate autonomy and originality in tackling and solving problems, and act autonomously in planning and implementing tasks at a professional and equivalent level. |
| Pre-requisites: |
Before undertaking this module the student should have
undertaken the following:
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Module Code:
| Module Title:
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| Other: | |
| Co-requisites | Module Code:
| Module Title:
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* Indicates that module descriptor is not published.
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| Learning and Teaching |
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The Learning and Teaching strategy of this module has been developed with reference to a number of internal and external benchmarks, with particular reference to the QAA benchmark statement for Masters degrees in Business and Management, the University’s Learning, Teaching and Assessment Strategy and Internationalisation strategy. Learning and teaching will be externally informed through the professional bodies’ syllabuses and through IFRS. Attending students will have access to learning in a physical space and online students will have similar access to the eLearning environment. Students will be encouraged to reflect on their learning at the end of each session and to update, as appropriate, their Personal Development Plan.
Learning Activities
As a guide it is recommended that students should dedicate up to 12 hours per week to complete all the additional material in the form of narratives, slide shows, quizzes and other exercises that are provided on the CampusMoodle site and via the module e-book. In addition there is a need for all students to recognise their own time to be used for personal development and additional reading of journals and articles as appropriate.
Face to face students will be monitored by attendance at lectures, tutorials, workshops, seminars etc and online students will be monitored for their engagement with the material on CampusMoodle. It is particularly important that online students (or directed online activities) are allocating sufficient time to their studies and if they encounter problems they must notify their personal tutor or/and Module Co-ordinators at once.
Assessment will be by coursework and a final examination. The coursework element could take a number of forms, including but not restricted to, an academic essay discussing a topic of current academic or professional interest and debate,or a critical evaluation of a firm's accounting policies. The unseen examination will test the students’ abilities to apply the concepts and theories they leaned in the module to a range of issues related to Financial Accounting.
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Learning Activities
During completion of this module, the learning activities undertaken to
achieve the module learning outcomes are stated below:
| Student Learning Hours
(Normally totalling 200 hours):
(Note: Learning hours include both contact hours and hours spent on other learning activities) |
| Lecture/Core Content Delivery | 24 |
| Tutorial/Synchronous Support Activity | 12 |
| Independent Study | 134 |
| Asynchronous Class Activity | 20 |
| Personal Development Plan | 10 |
| 200
Hours Total
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**Indicative Resources: (eg. Core text, journals, internet
access)
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The following materials form essential underpinning for the module content
and ultimately for the learning outcomes:
CIMA Study Text Paper F1. BPP Learning Materials or Kaplan Publishing
CIMA Study Text Paper F2. BPP Learning Materials or Kaplan Publishing
ACCA Resources: www.accaglobal.com -research reports online.
CIMA Resources: www.cima.org.uk knowledge bank
www.accaglobal.com research reports online
Journals
Journal articles will be frequently referred to during the module and will be chosen to reflect the most modern thinking on the subject. The following articles are given as indicative only:
Bradbury, Michael E., and Laura B Schroder. "The content of accounting standards: principles versus rules" The British accounting Review (2011)
Haller, Axel et al. "The Effects of Accounting Standards - A Comment" accounting in Europe 9.2(2012)113-125
Walker, Martin. "Accounting for varieties of capitalism: The case against a single set of global accounting standards" The British Accounting Review 42.3 (2010):137-152
Gornik-Tomaszewski and C. Choi."The Conceptual Framework: Past, Present and Future". Interdisciplinary Journal of Risk and Society, 38(1)(2018):47-58
Kabir and Rahman."How Does the IASB Use the Conceptual Framework in Developing IFRSs? An Examination of the Development of IFRS 16 Leases" Journal of Financial Reporting (2018) 3 (1): 93–116.
Morais."Are changes in international accounting standards making them more complex? Accounting Forum 44(1)(2020):35-63
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(**N.B. Although reading lists should include current publications,
students are advised (particularly for material marked with an asterisk*) to
wait until the start of session for confirmation of the most up-to-date
material)
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| Engagement Requirements |
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In line with the Academic Engagement Procedure, Students are defined as academically engaged if they are regularly engaged with timetabled teaching sessions, course-related learning resources including those in the Library and on the relevant learning platform, and complete assessments and submit these on time. Please refer to the Academic Engagement Procedure at the following link: Academic engagement procedure
Where a module has Professional, Statutory or Regulatory Body requirements these will be listed here:
Full time students are expected to meet the University 75% attendance requirement; demonstrate evidence of engagement with module resources; and under normal circumstances attempt all assessment elements. |
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Supplemental Information
| Programme Board | Accounting, Finance and Law |
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| Assessment Results (Pass/Fail) |
No
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| Subject Panel | Accounting, Finance & Law |
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| Moderator | Nasir Kolade |
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| External Examiner | Chris Soan |
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| Accreditation Details | Professional exemptions from Chartered Institute of Management Accountants (CIMA) |
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| Version Number | 1.07 |
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| Assessment: (also refer to Assessment Outcomes Grids below) |
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Mid-trimester essay, weighted at 30%. A minimum mark of 39.5% is required to satisfy the aggregate rule. Word Limit is approximately 1200 (+/-10%) words.
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| End of trimester exam, weighted at 70% of the final module mark. A minimum mark of 39.5% must be gained to satisfy the aggregate rule. |
(N.B. (i) Assessment Outcomes Grids for the module
(one for each component) can be found below which clearly demonstrate how the learning outcomes of the module
will be assessed.
(ii) An indicative schedule listing approximate times
within the academic calendar when assessment is likely to feature will be
provided within the Student Handbook.)
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Assessment Outcome Grids (Footnote A.)
Footnotes
A. Referred to within Assessment Section above
B. Identified in the Learning Outcome Section above
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Note(s):
- More than one assessment method can be used to assess individual learning outcomes.
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Schools are responsible for determining student contact hours. Please refer to University Policy on contact hours (extract contained within section 10 of the Module Descriptor guidance note).
This will normally be variable across Schools, dependent on Programmes &/or Professional requirements.
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| Equality and Diversity |
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As per University regulations and policies.
UWS Equality and Diversity Policy |
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(N.B. Every effort
will be made by the University to accommodate any equality and diversity issues
brought to the attention of the School)
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