Module Catalogues, Xi'an Jiaotong-Liverpool University   
 
Module Code: ACF107
Module Title: Foundations of Financial Accounting
Module Level: Level 1
Module Credits: 5.00
Academic Year: 2017/18
Semester: SEM1
Originating Department: International Business School
Pre-requisites: N/A
   
Aims
This module provides students with a broad understanding of introductory financial accounting. It covers key accounting concepts such as the principles of double entry book keeping and the preparation of basic financial statements.
Learning outcomes 
A Be able to describe the nature and the purposes of financial accounting.

B Understand the regulatory frameworks that govern the preparation of financial statements.

C Understand the different legal forms of a business.

D Explain the concepts and conventions underlying financial accounting.

E Understand the principles of double entry book keeping.

F Be able to prepare basic financial statements for different types of entities.

Method of teaching and learning 
Lectures will cover accounting principles and the preparation of financial statements.
Tutorials, on the other hand, will be used for practical application and group discussions. Interactive Communications Environment (ICE), XJTLU's virtual learning environment, will be used to distribute lecture materials and relevant contemporary and academic articles.
Syllabus 
The role of accounting in a business.


Analysing and recording business transactions using double-entry booking system.



Adjusting and closing entries.



Accounting standards, internal control, audit and ethics.



Accounting for merchandising business.



Inventory.



Cash and receivables.



Long-term and other assets.



Current Liabilities and Long-term debt.



Paid-in capital and Retained earnings.



Statement of cash flow.



Financial statement analysis.

Delivery Hours  
Lectures Seminars Tutorials Lab/Prcaticals Fieldwork / Placement Other(Private study) Total
Hours/Semester 26     12      112  150 

Assessment

Sequence Method % of Final Mark
1 Midterm Exam 15.00
2 Final Exam 70.00
3 Early Feedback Exam 15.00

Module Catalogue generated from SITS CUT-OFF: 10/22/2017 10:47:52 AM