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Financial Accounting Fundamental

BANKING UNIVERSITY OF HO CHI MINH CITY

 

CERTIFICATE IN BUSINESS MANAGEMENT

BBM1006: FINANCIAL ACCOUNTING FUNDAMENTALS

 

Credits: 16

ECTS Value: 8

Marking Scheme: Numerical marking scheme (i.e. mark of 0-100)

 

Pass Mark

The pass mark for the module is 50%

Delivery Type

This module requires you to attend the classes at the scheduled time in the specific locations.

Pre-Requisites

None

Co-Requisites

None

 

Module Outline

 

This module aims to develop and improve: communications – including effective written and oral skills, critical thinking and problem solving – including mathematical and scientific inquiry, organisation and planning, computer and information literacy, as well as personal development – including leadership, teamwork, and lifelong learning skills and following.

 

Number

Description

1

  • To introduce students to financial accounting - stressing its importance in today’s business world.

2

  • To provide introductory knowledge and practices of accounting principles, concepts and conventions underlying the structure of financial accounting as applied to different types of business.

3

  • To develop a basic understanding on accounting terminology and the basic financial statements required for most businesses in the context of international regulatory environment.

 

Indicative Content

Number

Description

1

Generally accepted accounting principles and concepts and the emerging role of financial accounting in an increasingly international context.

2

The use of double-entry and accounting systems

  • Double-entry book-keeping principles including the maintenance of accounting records and sources of accounting information 
  • Ledger accounts, books of prime entry, and journals

3

Record transactions and events

  • Sales and purchases
  • Cash
  • Inventory
  • Tangible non-current assets
  • Depreciation
  • Intangible non-current assets and amortisation
  • Accruals and prepayments
  • Receivables and payables
  • Provisions and contingencies
  • Capital structure and finance costs

4

Prepare a trial balance

  • Trial balance
  • Correction of errors
  • Control accounts and reconciliations
  • Bank reconciliations
  • Suspense accounts

5

Prepare basic financial statements for sole traders and partnerships.

  • Statements of financial position
  • Income statements and statements of comprehensive income
  • Disclosure notes
  • Events after the reporting period
  • Statements of cash flows (excluding partnerships)
  • Incomplete records

 

Learning Outcomes

On successful completion of this Module you will be expected to be able to:

Description

1

Explain the context and purpose of financial reporting and define the qualitative characteristics of financial information utilizing the communication skills.

2

Distinguish between rules-based and principles-based accounting system

3

Apply knowledge of basic financial accounting principles, concepts and conventions utilizing the ability to solve problem.

4

Demonstrate the use of double-entry and accounting systems to record transactions and events utilizing the organization and planning skills.

5

Prepare basic financial statements for sole traders and partnerships utilizing the ability to communicate to different information users.

 

Learning and Teaching Strategy

The learning system for this module consists of lectures and scheduled tutorials. Lectures elaborate on the appropriate theoretical content in the textbook and provide a more detailed and refined analysis of both concepts and applied materials.  You are to response to all in instructions and assignments given in class as well as for the supporting textbook content. You are expected to involve and participate in class activities, and read prior to lecture attendance in order to gain maximum benefit from lectures. In fact a ‘skim read’ before lectures is most appropriate and valuable.

 

Learning & Teaching Methods

Method

Hours

Lecture & Seminar

48

Tutorial

15

Guided independent study

97

 

Summary

%

Scheduled

40

Independent

60

 

Summative Assessment Strategy

Your achievement of the learning outcomes for this module will be tested as follows: Portfolio (Presentation, Discussion, In-class exercises), Midterm Exam (2 hours), and Final Exam (3 hours).

 

Summative Assessments

Item

Final Item?

Assessment Method

Description

Learning Outcomes

Weighting %

001

No

Midterm Exam

2 Hour Closed Book Examination,

1,3,4

30

002

No

Portfolio

Presentation, Discussion, In-class exercises

1,2,3

20

003

Yes

Final Written Exam

3 Hour Closed Book Examination

1,3,4,5

50

 

Summary

%

Final Written Exam

50

Midterm Exam

30

Portfolio

20

 

Learning Resources

Description

McLaney, E. and Atrill, P. (2010) Accounting, An introduction. 5th ed. Financial Times Prentice Hall: Harlow

Weetman, P. (2006) Financial and management accounting: an introduction. 5th ed. Financial Times Prentice Hall: Harlow

 

                                                           

 

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