Description:
| Aims: The unit aims to introduce students to:
* key ideas about the role and limitations of financial reporting;
* make students aware of the role of financial reporting in organisational control;
* provide foundation knowledge and understanding of issues in financial reporting that that can be built on in subsequent accounting and finance modules;
* understanding and reviewing the key issues relating to reporting income, assets values and transactions with owners/funders for different organisational forms such as sole traders, partnerships and limited companies.
Learning Outcomes: On completing this unit students will be able to:
* Understand the impact on financial reporting of key historical developments in industry and commence.
* Understand key issues in the IASB's conceptual framework for financial reporting.
* Prepare elemental financial statements for a range of organizational forms namely sole traders, partnerships and limited companies.
* Explain and describe the role of governance, audit and social responsibility accounting across organization form namely.
* Work in teams on group projects.
Skills: Intellectual skills
* investigate concepts and views effectively and discuss and defend ideas through written language (T/F/A)
* explore concepts, processes and organisational structures for control evaluation and assessment (T/F/A)
* understand the complexities of accounting processes and requirements in a variety of organisations (T/A)
* expansion of accounting knowledge and understanding gained in Semester 1
Professional/Practical skills
* introduction to the risks and control mechanisms in organisations (T/A)
Transferable/Key skills
* use internet and library search skills to access contemporary relevant information (F/A)
Personal/Interpersonal skills
* group development through working on n assessed group project (F/A)
Content: Course contents:
* Organisational form, agency relationships and accounting
* Accounting and contracting
* Accounting and control
* Accounting for Sole traders
* Accounting for Partnerships
* Accounting for Limited companies Manufacturing accounts; IAS2.
|