2024/25 Undergraduate Module Catalogue

LUBS1915 Introduction to Financial Accounting

10 Credits Class Size: 216

Module manager: Jessica Johnson
Email: j.c.johnson@leeds.ac.uk

Taught: Semester 1 (Sep to Jan) View Timetable

Year running 2024/25

Co-requisites

LUBS1925 Introduction to Management Accounting

Mutually Exclusive

LLLC1387 Accounting for Non-Specialists
LUBS1225 Accounting for Managers
LUBS1235 Introductory Financial Accounting
LUBS1245 Introductory Management Accounting
LUBS2035 Finance for Small Business

This module is not approved as a discovery module

Objectives

This module aims to introduce students to the basic concepts of financial accounting and the preparation and interpretation of financial statements in a business context.

Learning outcomes

On completion of this module, students will be able to:
- Understand the basic concepts of financial accounting and the preparation of financial statements
- Provide a basic insight into the operations of a simple business

Skills outcomes

Subject specific:
- Apply current technical standards, language and practices of accounting to prepare financial statements
- Competently record and summarise financial transactions

Transferable:
- Extract relevant information from structured scenarios and data in order to identify problems and define solutions
- Competently apply numerical skills to manipulate and interrogate financial and non-financial data

Syllabus

Indicative content:
- nature of accounting and decision making
- double entry bookkeeping
- financial statements
- control accounts
- cost of sales, inventory
- accruals and prepayments
- irrecoverable debts
- non-current assets
- company accounts and analysis

Teaching Methods

Delivery type Number Length hours Student hours
Lecture 11 2 22
Seminar 10 1 10
Private study hours 68
Total Contact hours 32
Total hours (100hr per 10 credits) 100

Private study

This could include a variety of activities, such as reading, watching videos, question practice and exam preparation.

Opportunities for Formative Feedback

Formative feedback will be available through feedback on some practice questions and seminar activities, as well as Q&A related to the exam.

Exams
Exam type Exam duration % of formal assessment
Standard exam (closed essays, MCQs etc) 2.0 Hrs 0 Mins 100
Total percentage (Assessment Exams) 100

The resit for this module will be 100% by 2 hour examination.

Reading List

The reading list is available from the Library website

Last updated: 4/29/2024

Errors, omissions, failed links etc should be notified to the Catalogue Team