ACC1053 : Introductory Quantitative Methods and Principles of Taxation
- Offered for Year: 2024/25
- Module Leader(s): Mrs Tracey Wilson
- Owning School: Newcastle University Business School
- Teaching Location: Newcastle City Campus
Semesters
Your programme is made up of credits, the total differs on programme to programme.
| Semester 1 Credit Value: | 10 |
| Semester 2 Credit Value: | 10 |
| ECTS Credits: | 10.0 |
| European Credit Transfer System | |
Aims
• To introduce the mathematical and statistical techniques and concepts necessary in the field of Accounting and Finance.
• To enable students to understand the general objectives of taxation
• To study the principles of income tax, capital gains tax, corporation tax, VAT, national insurance and ethical issues in relation to taxation.
• To prepare tax computations for individuals and companies.
Outline Of Syllabus
The mathematics/ statistical element will be taught throughout semesters one and two, the principles of tax element will be taught in semester two only.
Maths/stats:
• Linear equations and non-linear equations (3 lecture sessions)
• Differentiation, partial differentiation and optimisation (4 lecture sessions)
• Descriptive statistics (4 lecture sessions)
• Basic probability and distribution (3 lecture sessions)
• Estimation and hypothesis testing (3 lecture sessions)
• Regression analysis (3 lecture sessions)
• Revision (2 lecture session)
Principles of Tax:
• Obligations the system of taxes imposes on taxpayers and implications for taxpayers of non-compliance
• UK ethical issues arising in the course of performing tax work
• Income tax for individuals and trustees
• Capital gains tax for individuals and trustees
• National insurance
• Corporation tax
• VAT
Teaching Methods
Teaching Activities
| Category | Activity | Number | Length | Student Hours | Comment |
|---|---|---|---|---|---|
| Scheduled Learning And Teaching Activities | Lecture | 12 | 2:00 | 24:00 | Principles of Tax Lectures (NN14 students only) - PIP |
| Scheduled Learning And Teaching Activities | Lecture | 20 | 1:00 | 20:00 | Maths lecture sessions - PIP |
| Guided Independent Study | Assessment preparation and completion | 1 | 45:00 | 45:00 | Maths assessment preparation and completion |
| Guided Independent Study | Assessment preparation and completion | 1 | 31:00 | 31:00 | Tax assessment preparation and completion |
| Scheduled Learning And Teaching Activities | Small group teaching | 3 | 1:00 | 3:00 | Maths small groups - PIP |
| Scheduled Learning And Teaching Activities | Small group teaching | 6 | 1:00 | 6:00 | Tax seminars - PIP |
| Scheduled Learning And Teaching Activities | Workshops | 3 | 1:00 | 3:00 | Maths Workshops - PIP |
| Guided Independent Study | Independent study | 1 | 68:00 | 68:00 | Maths/tax independent study |
| Total | 200:00 |
Jointly Taught With
| Code | Title |
|---|---|
| ACC1012 | Professional Skills for Accounting and Finance |
Teaching Rationale And Relationship
Mathematics and statistics (for both N400 and NN14 students) will be taught with lecture materials to introduce concepts and techniques, supported by workshop sessions where students will discuss and obtain feedback on their work on case studies designed to put into practice the material taught in lectures and have an opportunity to practice and obtain feedback on their attempts at in-class computer-based assignments. Students will also be set weekly practice questions with solutions that develop their ability to apply the key concepts of the module.
Principles of Tax (NN14 only) will be taught in the cohort group which allows for both formal lecture material and question practice.
NB- only the Maths and Stats elements will be jointly taught with the ACC1012 Maths and Stats elements.
Assessment Methods
The format of resits will be determined by the Board of Examiners
Exams
| Description | Length | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|---|
| Written Examination | 120 | 2 | A | 50 | Paired with maths exam for ACC1012 |
| Written Examination | 90 | 2 | A | 30 | Principles of Tax exam |
Exam Pairings
| Module Code | Module Title | Semester | Comment |
|---|---|---|---|
| Professional Skills for Accounting and Finance | 2 | Only the 50% Maths and Stats exam is paired with the maths and stats exam on ACC1012. |
Other Assessment
| Description | Semester | When Set | Percentage | Comment |
|---|---|---|---|---|
| Prof skill assessmnt | 1 | M | 10 | CBAs and case studies for a total of 10% of the module mark. |
| Prof skill assessmnt | 2 | M | 10 | CBAs, case study and Minitab assignment for a total of 10% of the module mark. |
Formative Assessments
Formative Assessment is an assessment which develops your skills in being assessed, allows for you to receive feedback, and prepares you for being assessed. However, it does not count to your final mark.
| Description | Semester | When Set | Comment |
|---|---|---|---|
| Prob solv exercises | 2 | M | Q and A homework set and self marked (Tax element) |
| Written Examination | 2 | M | Tax mock exam |
| Prob solv exercises | 1 | M | For maths - students are able to sit practice mode CBAs and will be provided with practice questions. |
| Prob solv exercises | 2 | M | For maths - students are able to sit practice mode CBAs and will be provided with practice questions. |
Assessment Rationale And Relationship
The formal examination and individual assignment will test the mathematics and statistical concepts and techniques introduced in the module. The principles of tax examination will assess knowledge and understanding as well as relevant cognitive and professional skills. Its use also meets ICAEW’s Certificate Level examination requirements.
Only the 50% Maths and Stats exam is paired with the maths and stats exam on ACC1012.
Where necessary the examinations/assessments can be converted into online 24 hour take home examinations/assessments in line with the 2020/21 approach.
Reading Lists
Timetable
- Timetable Website: www.ncl.ac.uk/timetable/
- ACC1053's Timetable