| Unit name | Fundamentals of Accounting and Finance 2 |
|---|---|
| Unit code | EFIM10006 |
| Credit points | 20 |
| Level of study | C/4 |
| Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
| Unit director | Dr. Tim Kasim |
| Open unit status | Not open |
| Pre-requisites |
Fundamentals of Accounting and Finance 1 |
| Co-requisites |
None |
| School/department | School of Accounting and Finance - Business School |
| Faculty | Faculty of Social Sciences and Law |
The unit follows on from Fundamentals of Accounting and Finance 1, covering in more depth the topics introduced in that unit.
The aim is to enhance the detailed knowledge of students who are on specialist accounting programmes, to equip them for the core second and third year courses in their programme.
On completion of the unit students should be able to:
• explain and apply the principles of double-entry bookkeeping, including the use of an extended trial balance;
• prepare and explain a Statement of Financial Position for a single entity; prepare and explain a Statement of Comprehensive Income for a single entity;
• prepare and explain a Statement of Changes in Equity for a single entity;
• prepare and explain a Statement of Cash Flow for a single entity;
• explain, apply and evaluate alternative cost flow assumptions for measuring inventory (FIFO, LIFO and weighted average cost);
• explain the purpose of control accounts and perform reconciliations;
• prepare and explain partnership accounts, including where there is a change in partnership or in profit-sharing ratio, and explain the associated principles and techniques;
• account for the incorporation of a business, and explain the associated principles and techniques;
• demonstrate an understanding of principles of VAT;
• understand the principles of total absorption costing and marginal costing, and carry out computations demonstrating this understanding;
• understand the principles of key factor analysis and single-period capital rationing, and carry out computations demonstrating this understanding;
• have a knowledge and understanding of basic working capital control issues and models, and carry out computations demonstrating this understanding;
• demonstrate an awareness of the workings of the UK Stock market.
Teaching will be delivered through a combination of synchronous and asynchronous sessions including lectures, tutorials, drop-in sessions, discussion boards and other online learning opportunities
This unit will be assessed by 100% exam
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIM10006).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the Faculty workload statement relating to this unit for more information.
Assessment
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. If you have self-certificated your absence from an
assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
