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 INTRODUCTION TO ACCOUNTING AND FINANCE (NON-SPECIALIST)
Code ACFI107
Coordinator Miss KH Hall
Finance and Accounting
K.H.Hall@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2023-24 Level One Second Semester 15

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

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 24

 6

         30
Timetable (if known)              
Private Study 120
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Assessment 2: Online MCQ Tests Assessment Type: Written Exam Duration: 4 x 30 minutes Weighting: 40% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL Penalty Applies Anony  1    40       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Assessment 1: Group coursework project Assessment Type: Coursework Duration: N/A Weighting: 60% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL Penalty Applies Anonymous   0    60       

Aims

The module aims to provide students with:
1. A framework to allow understanding of the structure and contents of the key financial statements of business organisations;
2. An understanding of the basic principles of financial accounting;
3. An understanding of the basic techniques of preparation of such statements;
4. The ability to analyse firm performance and position using financial ratios;
5. The ability to use financial databases, analyse large volumes of data, and use simple data visualisation techniques;
6. An understanding of basic costing techniques in order to facilitate managerial decision-making;
7. Comprehension of the role and structure of budgets in an organisation;
8. The ability to apply various investment appraisal techniques in order to make capital investment decisions.

Learning Outcomes

(LO1) Students will be able to explain the nature and roles of accounting and finance;

(LO2) Students will be able to identify the main users of accounting and discuss their needs;

(LO3) Students will be able to distinguish between financial and management accounting;

(LO4) Students will be able to explain the nature and purpose of the three major financial statements;

(LO5) Students will be able to prepare simple balance sheets, cashflow statements and profit and loss accounts from relevant financial information;

(LO6) Students will be able to obtain data from several financial and economic databases and to use simple data visualisation techniques;

(LO7) Students will be able to discuss the role of accounting in the context of corporate governance.

(LO8) Students will be able to explain the relationship between costs, volume and profit and conduct break-even analysis;

(LO9) Students will be able to deduce the full cost of a unit of output in a single-product environment;

(LO10) Students will be able to construct simple budget from relevant information

(LO11) Students will be able to identify and apply the four main investment appraisal methods used in practice.

(S1) Adaptability

(S2) Problem solving skills

(S3) Numeracy

(S4) Commercial awareness

(S5) Organisational skills

(S6) Communication skills

(S7) Data analysis, data visualisation, and related IT skills

(S8) International awareness

(S9) Lifelong learning skills

(S10) Teamwork

Teaching and Learning Strategies

Teaching Method: Lecture
Scheduled Directed Student Hours: 24
Attendance Recorded: Yes

Teaching Method: Seminar
Description: A mixture of podcasts and live sessions to support the material delivered in learning materials
Scheduled Directed Student Hours: 6
Attendance Recorded: Yes

Self Directed Learning Hours: 120
Description: Students are expected to complete required readings and prepare for lectures and seminars. Further information will be provided on Canvas throughout the delivery of the module and it is essential that students engage with this tool.

This module is a pre-requisite for the following modules:
ACFI203, ACFI205, ACFI307, and ACFI322

Skills/Other Attributes Mapping

Skill/Other Attribute 1: lifelong learning skills
How this is developed: Lectures, seminars

Skill/Other Attribute 2: International awareness
How this is developed: Lectures, seminars, business case study discussions
Skill/Other Attribute 3: Data analysis, data visualisation, and related IT skills
How this is developed: Lectures, seminars and practical demonstrations using Excel and real-life databases available via the Library

Skill/Other Attribute 4: Communication skills
How this is developed: Lectures, seminars, through coursework assessment (data presentation and report writing skills)

Skill/Other Attribute 5: Organisational skills
How this is developed: Lectures, seminars

Skill/Other Attribute 6: Commercial awareness
How this is developed: Lectures, seminars, through the coursework assessment

Skill/Other Attribute 7: Numeracy
How this is developed: Lectures, seminars, analysis of real business data and work with software during on-campus activities and as part of coursework assessment

Skill/Other Attribute 8: Problem solving skills
How this is developed: Lectures, seminars, online practice tests and coursework assessment

< p>Skill/Other Attribute 9: Adaptability
How this is developed: Lectures, seminars

Skill/Other Attribute 10: Teamwork
How is this developed: Through the group assessment

Syllabus
 

1 Introduction to Accounting
2 The Statement of Financial Position
3 The Income Statement
4 The Statement of Cashflows
5 Business Organisations, Financing of Firms, Corporate Governance
6 Interpretation of Financial Statements and Ratio Analysis
7 Sources of Financial Data and Data Analysis Techniques
8 Cost-volume-profit analysis
9 Absorption costing
10 Budgeting
11 Capital Investment Appraisal
12 Revision

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