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DRPS : Course Catalogue : Business School : Accounting

Undergraduate Course: Accountancy 1A (ACCN08007)

Course Outline
SchoolBusiness School CollegeCollege of Arts, Humanities and Social Sciences
Credit level (Normal year taken)SCQF Level 8 (Year 1 Undergraduate) AvailabilityNot available to visiting students
SCQF Credits20 ECTS Credits10
SummaryIntroduction to financial accounting and reporting incorporating preparation and analysis of financial statements, issues in external reporting and the regulatory framework.
Course description Accountancy 1A is an introductory accounting course focusing on aspects of financial accounting, reporting and analysis. No prior knowledge of accounting is required. As this is the pre-requisite course for students planning to continue their studies in further technical aspects of financial accounting and reporting (Accountancy 2A), the double-entry accounting system features throughout. Most students taking Accountancy 1A will also go on to take Accountancy 1B, which focuses on aspects of management accounting, in Semester 2.

Outline Content

Recording business transactions into the accounting equation and into the double-entry system (Debit and Credit).
Recognition and measurement principles relating to non-current (fixed) assets, current assets and liabilities.
Issues relating to ownership interest /equity.
Preparation of financial statements (income statements and statements of financial position, changes in equity and cash flows).
Evaluating performance using ratio analysis.
Ensuring the quality of financial statements, the regulatory environment.
The Annual Report - Presentation of published financial statements with notes and narrative reports.
Forensic/investigative Accounting; fraud vs. creative accounting.

Student Learning Experience

Students will experience the identification and evaluation of different ways of learning including the assimilation of presented material, structured and free choice reading, interaction with staff and other students, practice by doing, use of learning facilities such as library and IT support. While the collaboration with others in the learning process is encouraged the enhancement of independent learning and self-management in finding, organising, assimilating information and in applying this knowledge is central to the course.

Tutorials supplement the material covered in lectures. These consist of groups of around 14 students, engaging in weekly sessions facilitated by a tutor. Students prepare for the tutorial by completing quizzes, practical exercises and/or reviewing annual report extracts or other reading assignments for review/discussion during the session. The tutor is an important link with the class work and is there to help you in your learning.

Working through practical exercises is an essential part of learning accounting. Certain lecturer led activities are structured as workshop sessions where the class will be involved in solving a set of practical exercises.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Students MUST have passed:
Prohibited Combinations Students MUST NOT also be taking Accounting for Business 1 (ACCN08012)
Other requirements The course is only open to students in the following degree programmes:

Accounting & Business
Accounting and Finance
Law and Accountancy
Economics and Accounting
Finance and Business
Course Delivery Information
Academic year 2024/25, Not available to visiting students (SS1) Quota:  None
Course Start Semester 1
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 200 ( Lecture Hours 30, Seminar/Tutorial Hours 9, Feedback/Feedforward Hours 9, Summative Assessment Hours 2, Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 146 )
Assessment (Further Info) Written Exam 75 %, Coursework 25 %, Practical Exam 0 %
Additional Information (Assessment) 75% Written Exam (Individual) - 2 hours - Assesses all course Learning Outcomes.

25% Coursework (Individual) - MCQ tests - 45 minutes - Assesses all course Learning Outcomes.

Resit exam in August: 2 hours (100%)
Feedback Formative: Feedback will be provided throughout the course.

Summative: Feedback will be provided on assessments within agreed deadlines.
Exam Information
Exam Diet Paper Name Hours & Minutes
Main Exam Diet S1 (December)Accountancy 1a2:00
Resit Exam Diet (August)2:00
Learning Outcomes
On completion of this course, the student will be able to:
  1. Produce financial statements (statement of financial position, income statement, statement of cash flows) from the relevant transactions and events affecting a business.
  2. Analyse, interpret and facilitate the use of accounting information (for example, through coherent report presentation and the use of ratio analysis).
  3. Relate accounting to the broader context of the strategic and operational considerations of business.
  4. Apply skills of numeracy and applications of IT in solving defined problems.
  5. Apply analytical skills in solving defined problems.
Reading List
Financial and Management Accounting
An Introduction
8th Edition
Pauline Weetman
Apr 2019, Paperback, 852 pages
ISBN13: 9781292244419
ISBN10: 1292244410

This textbook is core reading for the course and complements the lecture material, providing more detailed narrative and additional exercises for topics covered in lectures. The textbook, will also be used for some tutorial exercises. The companion website provides quizzes for each chapter. The 8th edition has been aligned with the definitions and terminology of the International Accounting Standards Board 2018 Conceptual Framework.

Note that this textbook covers both financial and management accounting topics and is therefore the core textbook for both Accountancy 1A and Accountancy 1B courses (there is also a version covering Financial Accounting topics only). There is an option to purchase the text in a package together with additional digital practice resources although these resources will not be a required component of the course.

Additional resources (e.g. company annual reports and other online resources and supplementary reading) will be available to students through the course Resource List on Learn.
Additional Information
Graduate Attributes and Skills Graduates should be able to:

- Understand and Make Effective Use of Data: Critically evaluate and present digital and other sources, research methods, data and information; discern their limitations, accuracy, validity, reliability and suitability; and apply responsibly in a wide variety of organisational contexts.

- Creative and Entrepreneurial Practice: Apply creative, innovative, entrepreneurial, sustainable and responsible business solutions to address social, economic and environmental global challenges.

- Personal and Professional Competence: Be self-motivated; curious; show initiative; set, achieve and surpass goals; as well as demonstrating adaptability, capable of handling complexity and ambiguity, with a willingness to learn; as well as being able to demonstrate the use digital and other tools to carry out tasks effectively, productively, and with attention to quality.

- Academic Excellence: Demonstrate a thorough knowledge and understanding of contemporary organisational disciplines; comprehend the role of business within the contemporary world; and critically evaluate and synthesise primary and secondary research and sources of evidence in order to make, and present, well informed and transparent organisation-related decisions, which have a positive global impact.

- Intellectual Curiosity: Identify, define and analyse theoretical and applied business and management problems, and develop approaches, informed by an understanding of appropriate quantitative and/or qualitative techniques, to explore and solve them responsibly.
Course organiserMrs Frances-Helen Hay
Tel: (0131 6)51 5248
Course secretaryMr Scott Fitzsimmons
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