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IB124 - Introduction to Financial Accounting

  • Module code: IB124
  • Module name: Introduction to Financial Accounting
  • Department: Warwick Business School
  • Credit: 12

Content and teaching | Assessment | Availability

Module content and teaching

Principal aims

The module aims to enable you to: explain the basic concepts, theories and context that underpin and influence accounting and its development; develop the ability to record and summarise accounting transactions and events; be able to integrate and understand the impact of accounting adjustments into the accounting records; prepare and present financial statements (profit and loss account, balance sheet and cash flow statements) for single entities; have a broad awareness of the influence of elements of the UK system of taxation on business decisions and financial reporting practice.

Principal learning outcomes

By the end of the module you should be able to: understand the impact of the context and theoretical underpinning of accounting on financial statements; describe the role of accounting in providing financial information to users; discuss the main business formats and the implications of these on the accounting statements; record and summarise financial transactions and events; prepare and interpret the financial statements of different types of single entities; work within small groups to discuss accounting issues and communicate the outcomes of such discussions; assess the nature of accounting information and be able to describe the relationships between different types of financial statements; critically discuss the theories that relate to or influence the role and development of accounting; prepare and interpret financial statements for different types of single entities.

Timetabled teaching activities

2 x 1 hour lectures per week, 1 x 1 hour seminar per week

Departmental link

http://www.wbs.ac.uk/students/undergraduate/

Module assessment

Assessment group Assessment name Percentage
12 CATS (Module code: IB124-12)
D (Assessed/examined work) Completion of all assigned EQL units 5%
  Class Test 1 10%
  Class Test 2 10%
  1.5 hr exam (Summer) 75%
D1 (Assessed/examined work) Completion of all assigned EQL units (Overflow) STAFF USE 5%
  Class Test 1 (Overflow) STAFF USE 10%
  Class Test 2 (Overflow) STAFF USE 10%
  1.5 hr exam (Summer) (Overflow) STAFF USE 75%

Module availability

This module is available on the following courses:

Core
  • Undergraduate International Business (N140) - Year 1
  • Undergraduate International Business with French (N1R1) - Year 1
  • Undergraduate International Business with German (N1R2) - Year 1
  • Undergraduate International Business with Italian (N1R3) - Year 1
  • Undergraduate International Business with Spanish (N1R4) - Year 1
  • BSc in Management (N201) - Year 1
  • BSc in International Management (N203) - Year 1
  • Undergraduate Management (with Foundation Year) (N20A) - Year 2
  • BSc in Management (with Intercalated Year/UPP) (N210) - Year 1
  • Undergraduate Accounting and Finance (with Foundation Year) (N4N4) - Year 2
  • Undergraduate Accounting and Finance (NN35) - Year 1
Optional Core
  • Undergraduate Law and Business Studies (MN31) - Year 1
  • Undergraduate Law and Business Studies (MN32) - Year 1
  • Law and Business Four Year (Qualifying Degree) (MN34) - Year 1
  • Undergraduate Law and Business Studies with Intercalated Year (3+1) (MN35) - Year 1
  • Undergraduate Law and Business Studies with Intercalated Year (4+1) (MN36) - Year 1
  • Undergraduate Law and Business Studies (Qualifying Degree) with Intercalated Year (MN37) - Year 1
Optional
  • Undergraduate Digital Innovation and Entrepreneurship (N212) - Year 1