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Module

LAC2005 : Intermediate Financial Accounting (Inactive)

  • Inactive for Year: 2024/25
  • Module Leader(s): Dr Ekaete Efretuei
  • Owning School: Newcastle University Business School
  • Teaching Location: London
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

1. To examine current financial reporting practice and how it impacts upon companies

2. To enable students to develop accounts preparation and interpretation skills

3. To provide an introduction to group accounts preparation This is an intermediate financial reporting module. Most of the examples relate to companies reporting to shareholders. We shall consider how to account for a range of situations, including accounting for provisions, contingent liabilities and contingent assets, financial instruments and consolidation of group companies with reference to international accounting standards. The module will provide an introduction to the regulatory and IASB frameworks governing the production of financial statements.

Outline Of Syllabus

1. Company Financial Statements

2. The Frameworks of Financial Reporting

3. Preparation of consolidated Group Accounts

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Structured Guided LearningLecture materials182:0036:00N/A
Guided Independent StudyAssessment preparation and completion159:0059:00N/A
Structured Guided LearningAcademic skills activities181:0018:00N/A
Guided Independent StudyDirected research and reading150:0050:00N/A
Scheduled Learning And Teaching ActivitiesSmall group teaching61:006:00N/A
Structured Guided LearningStructured non-synchronous discussion180:309:00N/A
Scheduled Learning And Teaching ActivitiesDrop-in/surgery21:002:00N/A
Scheduled Learning And Teaching ActivitiesDrop-in/surgery51:005:00Synchronous, online - Q&A
Guided Independent StudyIndependent study114:0014:00N/A
Scheduled Learning And Teaching ActivitiesModule talk11:001:00N/A
Total200:00
Teaching Rationale And Relationship

Lecture materials introduce the course material to students, and concentrate upon some of the more challenging aspects of financial reporting. Students are given a programme of required reading to supplement the lecture materials and are encouraged to attempt books' questions as well as reading around subjects as widely as possible. The synchronous sessions consolidate the course material by allowing students to tackle problems in a small group environment, where the seminar leader is available to provide explanations and give extra help as required. The practice questions set will help students to develop problem-solving, numeracy and written-communication skills. The synchronous sessions are designed to encourage discussion by probing the implications of alternative accounting policy choices and trends in financial reporting. Students are required to attend synchronous seminar sessions with their attempts at set questions ready to discuss these with the rest of the group.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Exams
Description Length Semester When Set Percentage Comment
Written Examination1802A100N/A
Exam Pairings
Module Code Module Title Semester Comment
Intermediate Financial Accounting2N/A
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 exercises1MPractice questions provided
Prob solv exercises2MPractice questions provided
Computer assessment1MFormative multiple choice examination to consolidate learning by end of semester 1.
Assessment Rationale And Relationship

The formal examination tests the students' intended knowledge and skills outcomes, in particular their ability to write succinct essays and solve numerical problems. The formative MCQ examination will provide feedback to students on their progress.

Reading Lists

Timetable