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Session: 2022/23
Last modified: 08/04/2022 09:39:43
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Title of Module: Preparing Financial Statements |
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Code: ACCT08012 |
SCQF Level: 8
(Scottish Credit and Qualifications Framework) |
Credit Points: 10 |
ECTS: 5
(European Credit Transfer Scheme) |
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| School: | School of Business & Creative Industries |
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| Module Co-ordinator: | Patricia
Connelly |
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| Summary of Module |
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Students will study basic book keeping up to the trial balance stage, the extraction of the trial balance figures plus closing adjustments leading to the preparation of basic financial statements.
Syllabus may include:sales day books, purchase day books, cash books and related double entry up to the trial balance stage. The extraction of trial balance, adjustments for closing inventories, depreciation charge, accruals and prepayments and preparation of basic financial statements.
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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.
Prepare bookkeeping entries and extract trial balance entries.
L2.
Prepare closing adjustments at the year end.
L3.
Prepare basic financial statements. |
| 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 8.
Demonstrate and/or work with:
* A knowledge of the scope, defining features, and main areas of financial accounting.
* An understanding of a defined range of core theories, concepts, principles and terminology.
* Awareness and understanding of some major current issues and specialisms.
* Awareness and understanding of research and equivalent scholarly/academic processes.
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| Practice: Applied Knowledge and Understanding |
SCQF Level 8.
Apply knowledge, skills and understanding:
* In using a range of professional skills, techniques, practices and/or materials associated with financial accounting, a few of which are advanced and/or complex.
* In carrying out routine lines of enquiry, development or investigation into professional level problems and issues.
* To adapt routine practices within accepted standards.
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| Generic Cognitive skills |
SCQF Level 8.
* Undertake analysis, evaluation and/or synthesis of ideas, concepts, information and issues that are within the common understandings in financial accounting.
* Use a range of approaches evaluate evidence-based solutions to routine problems and issues.
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| Communication, ICT and Numeracy Skills |
SCQF Level 8.
* Use a wide range of routine skills and some advanced and specialised skills associated with financial accounting, for example:
* Use and evaluate numerical data to measure progress and achieve goals/targets.
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| Autonomy, Accountability and Working with others |
SCQF Level 8.
* Exercise autonomy and initiative in some activities in practice of financial accounting.
* Manage resources within defined areas of work.
* Practise in ways that show awareness of own and others’ roles, responsibilities and contributions when carrying out and evaluating tasks.
* Manage, under guidance, ethical and professional issues in accordance with current professional
and/or ethical codes or practices.
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| 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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| This module will use the traditional lecture and tutorial format of delivery. lectures will be used to explain the underlying principles and the importance of financial accounting for businesses. The lectures will be supported by tutorial practise questions, allowing students to demonstrate their understanding of the issues covered in the lectures. Knowledge and understanding will be enhanced by reference to real-life scenarios and case studies. Through assessment,students will be able to demonstrate their preparation skills. |
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 | 12 |
| Tutorial/Synchronous Support Activity | 0 |
| Independent Study | 88 |
| 100
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:
ACCA Financial Accounting Text - F3 (current edition).
Details of further resources, including textbooks, journals and online resources will be identified at the beginning of each delivery in the module handbook and made available via Moodle.
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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 |
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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 | Marie Fletcher |
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| External Examiner | C Soan |
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| Accreditation Details | It is anticipated that the module with contribute towards exemptions from paper F3 of ACCA. |
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| Version Number | 1.04 |
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| Assessment: (also refer to Assessment Outcomes Grids below) |
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| Unseen online class test of two hours duration. |
(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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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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