FIN11 Accounting & Bookkeeping

Module Name: 
Accounting & Bookkeeping
Module Code: 
FIN11
Year: 
1
Phase: 
1
Block: 
1
Teacher : 
Justice Kyei-Mensah
Email address : 
s00091@staff.wittenborg.eu
Prerequisite: 
High School Diploma or final certificate, equivalent to the Netherlands HAVO Diploma
Introduction: 
This course introduces students to the basics of bookkeeping and accountancy, providing an understanding of the use and construction of accounts, the different trading entities, basic taxation and cash flow forecasting.
Goals: 
  • Understand the background to the history and development of accounting
  • Understand the nature and purpose of the double-entry system, including ledger accounts and the trial balance
  • prepare a profit and loss account and balance sheet for sole traders and companies, given a trial balance and a series of year-end adjustments
  • Identify user groups of financial statements
  • Prepare a report on the financial performance and position of a company, using ratio analysis
  • Explain fundamental accounting concepts and terminology
  • Prepare and interpret a cash flow statement
Content: 

PART ONE: INTRODUCTION TO DOUBLE ENTRY BOOKKEEPING

1. The accounting equation and the balance sheet
2. The double entry system for assets, liabilities and capital
3. Stock
4. The effect of profit or loss on capital and the double entry system for expenses and revenues
5. Balancing of accounts
6. The trial balance

PART TWO: THE FINANCIAL STATEMENTS OF SOLE TRADERS

7. Trading and profit and loss accounts: an introduction
8. Balance Sheets
9. Trading and profit and loss accounts and balance sheets: further considerations
10. Accounting Concepts

PART THREE: BOOKS OF ORIGINAL ENTRY

11. Books of original entry and ledgers
13. Cash books
14. Day books
15. The journal
17. Value added tax

PART FOUR: ADJUSTMENTS FOR FINANCIAL STATEMENTS

22. Capital and revenue expenditure

23. Bad debts, provisions for doubtful debts, provisions for discounts on debtors
26. Accruals and prepayments and other adjustments for financial statements
29. Control accounts

PART FIVE: SPECIAL ACCOUNTING PROCEDURES

34. Receipts and payments accounts and income and expenditure accounts

PART SIX: PARTNERSHIP ACCOUNTS AND COMPANY ACCOUNTS

39. Partnership accounts: an introduction

Instruction / Study Load : 
  • 24  Lesson hours
  • 8  Preparation Lesson hours
  • 30  Assignments / Homework hours
  • 20 Exam and exam preparation hours
  • 58 Literature ( Depending on the length and difficulty of the book ) hours

The course uses 347 pages from the book(s) and journal articles where:

  • 200 pages easy reading and understanding material – 29 hours
  • 147 pages average reading and understanding material – 29 Hours

Criteria:

  • Difficult reading and understanding material – 3 pages per hour
  • Average reading and understanding material – 5 pages per hour
  • Easy reading and understanding  material – 7 pages per hour

 Total 140 Hours

IBA Final Qualification Mapping: 
Mapped with numbers 1, 13, 16, 18 See the EEG for further reference.
Teaching Language: 
English
Teaching Methods: 
  • Classroom lecturing
  • Case study discussions
  • Feedback and presentation sessions
  • Video and film
  • Discussion sessions
  • Research Papers
Module / Lecture and seminar status: 
Compulsory
Testing and assessment: 
Written Examination (1) See the EEG for further reference.
European Credits: 
5
Required literature: 

Business Accounting Volume 1, 10th Edition; Frank Wood and Alan Sangster ; Financial Times/ Prentice Hall; 2005, ISBN-10: 0273681494 , ISBN-13: 978-0273681496ISBN 0273681494

Notes: 

Articles and Journals related to the module are to be published on the Module Online Area.

Attachment: