ULMS Electronic Module Catalogue

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title FINANCIAL REPORTING AND FINANCE (NON-SPECIALIST)
Code ACFI290
Coordinator Dr K Bangassa
Finance and Accounting
Kenbata@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2021-22 Level 5 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

ACFI103 INTRODUCTION TO FINANCE 

Modules for which this module is a pre-requisite:

 

Programme(s) (including Year of Study) to which this module is available on a required basis:

 

Programme(s) (including Year of Study) to which this module is available on an optional basis:

 

Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 12

6

      12

6

36
Timetable (if known) 60 mins X 1 totaling 12
 
60 mins X 1 totaling 6
 
      60 mins X 1 totaling 12
60 mins X 1 totaling 6
 
 
Private Study 114
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 1: Written Unseen Examination Assessment Type: Written Exam Duration: 3 hours Weighting: 100% Reassessment Opportunity: Yes Penalty for Late Submission: Yes Anonymous Assessm  3 hours    100       
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
             

Aims

The aim of the Financial Reporting and Finance module is to provide an understanding of financial instruments and financial institutions and to provide the ability to interpret published financial statements of non-financial and financial companies with respect to performance, liquidity and efficiency. An understanding of the concepts of taxation and managerial decision making are also introduced and developed.


Learning Outcomes

(LO1) Describe the different forms a business may operate in;

(LO2) Describe the principal forms of raising finance for a business;

(LO3) Demonstrate an understanding of key accounting concepts, group accounting and analysis of financial statements;

(LO4) Describe the basic principles of personal and corporate taxation;

(LO5) Demonstrate an understanding of decision making tools in used in management accounting.

(S1) Problem solving skills

(S2) Numeracy

(S3) Commercial awareness

(S4) Organisational skills

(S5) Communication skills


Teaching and Learning Strategies

Teaching Method: Online Asynchronous Learning Materials
Scheduled Directed Student Hours: 12
Attendance Recorded: No

Teaching Method: Synchronous Lecture
Scheduled Directed Student Hours: 12
Attendance Recorded: No

Teaching Method: Seminar
Scheduled Directed Student Hours: 6
Attendance Recorded: Yes

Teaching Method: Group Study
Description: Biweekly one hour session to foster student community and engagement by working with others on their ‘active learning’ activities .
Scheduled Student Hours: 6
Attendance Recorded: No

Self-Directed Learning Hours: 114

There are the following non-modular requirements:
ACFI101 and ACFI103 (or XJTLU equivalent modules)

Skills/Other Attributes Mapping

Skills / attributes: communication skills
How this is developed: Practiced in lectures, seminars and any contact hours with the teachers
Mode of assessment (if applicable)

Skills / attributes: o rganisational skills
How this is developed: Learned through private study
Mode of assessment (if applicable)

Skills / attributes: commercial awareness
How this is developed: Taught in lectures and seminars and assessed in examination
Mode of assessment (if applicable): Examination

Skills / attributes: Numeracy
How this is developed: Taught in lectures and seminars and assessed in examination
Mode of assessment (if applicable): Examination

Skills / attributes: Problem solving skills
How this is developed: Taught in lectures and seminars and assessed in examination
Mode of assessment (if applicable)


Syllabus

 

INTRODUCTION
Revision of finance principles and terminology;
Business entities: legal forms of companies (public and private) and partnerships.

FINANCIAL INSTRUMENTS AND FINANCIAL INSTITUTIONS  
Methods of raising finance (including: leasing, HP, credit sale, loans, trade credit, factoring, bills of exchange, commercial paper, overdrafts); 
Financial instruments;
Methods of issuing securities; 
Financial institutions.

FINANCIAL REPORTING AND ANALYSIS  
Fundamental accounting concepts; 
Financial statement preparation under International Financial Reporting Standards:
Statement of financial position;
Statement of comprehensive income;
Statement of cash flows;
Notes; 
Group accounting; 
Accounting issues:
Goodwill;
Depreciation;
Components of equity; 
Interpretation and analysis of published financial statements:
Key measures and concepts used in interpretation including - EBIT (Earnings Before Interest and Tax), EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), EPS (Earnings Per Share), gearing, price-earnings ratio, dividend yield, interest cover, asset cover;
Other ratios relating to profitability, liquidity and efficiency;
Limitations of accounting information
Structure and content of the financial statements of financial institutions – banks and insurance companies.

MANAGEMENT ACCOUNTING 
Decision making; 
Decision trees.

TAXATION
Principles and systems of taxation;
Income tax;
Corporation tax;
Tax on capital gains;
Double taxation relief.


Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.