MODULE HANDBOOK
ACCO 1124 – Financial Accounting
2023-24
Contents
Welcome message from your Module Leader ............................................................................... 2
Key contacts ................................................................................................................................... 3
Enquiry-Based Learning and Research-Led Teaching .................................................................. 4
Module details and learning outcomes .......................................................................................... 5
Employability .................................................................................................................................. 6
Key Dates ....................................................................................................................................... 7
Schedule of teaching and learning activities .................................................................................. 7
Assessment .................................................................................................................................... 9
Resit assessments ....................................................................................................................... 10
Reading recommendations .......................................................................................................... 10
Ethical Compliance for Research on Taught Courses ................................................................. 11
Additional module information ...................................................................................................... 12
Changes to the module ................................................................................................................ 12
Digital Student Centre (non-academic queries) ........................................................................... 12
Other Details ................................................................................................................................ 13
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Welcome message from your Module Leader
Welcome to the ACCO 1124 Financial Accounting (FA) module.
Financial accounting is a dynamic discipline with global use. In the first part of the
FA module, you will learn how to use Sage accounting software combining a
knowledge of accounting theory with a proficiency in Sage will set you apart and
make you a valuable employee within a financial accounting environment. In the
second part, you will look at the use, regulation, and application of International
Financial Reporting Standards (IFRSs) and International Accounting Standards
(IASs). Although we expect you to work hard, you should be more than rewarded
by the added employability which comes from being skilled in these areas.
This module builds on your knowledge of basis financial accounting. FA also links
with Advanced Financial Accounting (AFA) in the third year for BA (Hons)
Accounting and Finance students. The combination of the FA and AFA modules
could grant you exemptions from professional accounting bodies’ papers.
This handbook provides essential information about this module including the
aims and learning outcomes, the schedule of teaching and learning activities,
assessment tasks, reading recommendations and, if applicable, any additional
resources that you will need. Please read it at the start of term so you are aware
of key details and important dates.
Neslihan Cetinkaya (IFRS) and Mig Farinas-Almeida (Sage)
N.Cetinkaya@greenwich.ac.uk
M.FarinasAlmeida@greenwich.ac.uk
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Key contacts
The list below provides contact details of the module team.
Module Leader (IFRS): Neslihan
Cetinkaya
Email: N.Cetinkaya@gre.ac.uk
Office hours: by appointment,
please e-mail
Module Leader (Sage): Mig FarinasAlmeida
Email:
M.FarinasAlmeida@gre.ac.uk
Office hours: by appointment,
please e-mail
Module Instructor (IFRS):
Shazerinna Shah
Email:
S.B.Z.O.Shah@greenwich.ac.uk
Office hours: by appointment,
please e-mail
Module Instructor (IFRS):
Email:
Nicola Mayhew
N.C.Mayhew@greenwich.ac.uk
Office hours: by appointment,
please e-mail
Module Instructor (Sage): Tony
Email:
Pampillon
a.pamphilon@greenwich.ac.uk
Office hours: by appointment,
please e-mail
Module Instructor (IFRS): Daniel Donkor
Email:
d.donkor@greenwich.ac.uk
Office hours: by appointment,
please e-mail
External Examiner: Duncan Finn, University of Kent
Programme Administration Team
Student Helpdesk
The Student Experience Officers are situated at the Student Helpdesk and are
here to help you throughout your journey at the University. The Helpdesk
provides support with general enquiries and signposting you to the relevant
team.
The student helpdesk can be found in the Queen Mary building on the second
floor QM240.
The contact for general queries is provided below.
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Student Helpdesk (General queries)
Contact number
businessschool@gre.ac.uk
020 8331 9712 / 8341
The Welcome Page (linked below) contains information to get you started on
your University Journey.
https://www.gre.ac.uk/welcome/inductions/business
We encourage you to enrol on our Student Moodle Page (linked below) where
you can access information including:
 Useful Contacts
 Timetable links
 Wellbeing guidance
 Instructions on navigating the Portal
 Introduction to our Programme Administration Team
https://moodlecurrent.gre.ac.uk/
Important: To access the Moodle Page, you will need to self-enrol yourself via
the above link.
Programme Administrators
The Programme Administrators can support you with programme specific
queries (such as missing/ incorrect grades on your profile, accessing
submission links, resit enquiries).
The contact for Programme Administrative queries is provided below.
Programme Administrators
(Administrative queries)
GBS-StudentSupport@gre.ac.uk
Enquiry-Based Learning and Research-Led Teaching
Enquiry-Based Learning (EBL)
Defined as ‘an approach based on self-directed enquiry or investigation in
which the student is actively engaged in the process of enquiry facilitated by a
teacher. EBL uses real life scenarios (for example, from case studies,
company visits, and project work) and students investigate topics of relevance
that foster the skills of experimental design, data collection, critical analysis
and problem-solving’.
The Sage component of the module requires students to work through a case
company to embed the skills of this part of the module. Topics within the IFRS
section of the module are illustrated with real life scenarios. Students are
expected to apply the knowledge and theory that they have learned to written
case studies and scenario style questions.
Research-Led Teaching (RLT)
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An element of Enquiry Based Learning links to RLT, which involves faculty
introducing students to their own research where it is relevant to the
curriculum being taught as well as drawing on their own knowledge of
research developments in the field, introducing them to the work of other
researchers. RLT sees students as active participants in the research process,
not just as an audience. This is achieved by discussing such developments in
lectures and classes, and setting reading lists including recent research
publications at the frontier of the field. The definition of a diverse assessment
regime at the programme level (incorporating an expectation of familiarity with,
and use of, such
publications in assignments) and the inclusion of projects at every level of the
programme is also fundamental to achieving these objectives.
IFRS is an evolving discipline, and students are taught the most up to date
accounting standards, and we discuss the evolution process and reasons for
changes in accounting standards. Furthermore, in lectures we discuss
relevant academic research within the context of Financial Reporting
Standards and the academic criticisms of the process.
Module details and learning outcomes
Host Faculty: Faculty of Business
Host School: School of Accounting, Finance and Economics
Number of Credits: 30
Term(s) of delivery: 1 & 2
Site(s) of delivery: Maritime/ International Partners
Aims:
Financial Accounting (FA) aims to develop students' understanding of financial
reporting and to enhance their ability to understand and to analyse published
financial statements logically and coherently. The module is based on
International Financial Reporting Standards (IFRS) compliance with which is
compulsory in the consolidated financial statements for firms with listings in a
number of jurisdictions, including all states within the European Union.
The module also aims to place financial accounting in a computerised context
and therefore the module is designed so that students develop a practical
understanding of accounting information systems using a computerised
accounting programme such as Sage 50 Accounts Professional.
Learning Outcomes:
On successful completion of this module a student will be able to:
1. Prepare the Consolidated Statement of Financial Position (Consolidated
Balance Sheet), Consolidated Statement of Profit or Loss and Other
Comprehensive Income (Consolidated Statement of Comprehensive
Income) and Consolidated Statement of Changes in Equity, for groups
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with subsidiaries and associates.
2. Explain and apply IFRS including the concepts set out in the
International Accounting Standards Board’s Conceptual Framework and
the requirements of a variety of international accounting standards.
3. Explain the methods of regulating financial reporting.
4. Analyse financial ratios in a detailed way, with respect to their
interpretation in particular, having an overall perspective of the
usefulness and limitations of using ratios to assess and compare
companies.
5. Organise, manage and develop computerised accounting information
systems, understanding the need for control and security of information
systems to ensure integrity of data and continuity of processing.
6. Apply theoretical principles to the processing of accounting data using
computerised accounting software such as Sage 50 Accounts
Professional.
Glossary:
A learning outcome is a subject-specific statement that defines the learning to be
achieved through completing this module.
Employability
By learning about some of the standards within IFRS and applying those in
various scenarios, you will develop technical skills which are essential for today’s
accounting practitioners. Specifically, you will learn how to prepare consolidated
accounts which is an important skill for any financial accountant who works for a
group. Successful completion of the module (in conjunction with the module
ACCO1115 Advanced Financial Accounting) may lead toward exemptions from
some professional body papers which may then accelerate your achieving the
status of a professionally qualified accountant after you graduate.
The module also provides a practical focus by integrating laboratory exercises
based on Sage 50 Accounts, an accounting software which is widely used in
industry.
You can find out more about the Greenwich Employability Passport at: Greenwich
Employability Passport for students
Information about the Career Centre is available at: Employability and Careers |
University of Greenwich
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Key Dates
2022/23 Term Dates
Please note that dates may differ depending on when you start your programme of study, and
where you are studying. Please refer to https://docs.gre.ac.uk/rep/sas/term-dates for full details,
and details of University closure dates.
Welcome Week
Term 1
Examination Period
Term 2
Examination Period
Resit Examination Period
11 September 2023
25 September 2023
8 January 2024
15 January 2024
29 Apr 2024
15 July 2024
22 September 2023
15 December 2023
12 January 2024
5 April 2024
17 May 2024
26 July 2024
Schedule of teaching and learning activities
Term One
Wk DateTuesday
3
26.09.2023
Reading to complete
Sage 50 Accounts
Elliott & Elliott chapter 17
12
28.11.2023
Lecture
Seminars
Introduction to Sage in QM446
2 hour practical session
No seminar
No lecture
2 hour practical IT-Lab session using
accounting software
No lecture
2 hour practical IT-Lab session using
accounting software
No lecture
2 hour practical IT-Lab session using
accounting software
No lecture
2 hour practical IT-Lab session using
accounting software
No lecture
2 hour practical IT-Lab session using
accounting software
No lecture
2 hour practical IT-Lab session using
accounting software
No lecture
Sage test
The need for and methods of regulating
financial reporting; controls in financial
accounting; and
the Conceptual Framework for Financial
Reporting (2010)
Review of accounting entries and
financial statements
Assets 1
Topic(s) dealt with in prior week’s lecture
13
05.12.2023
14
12.12.2023
Lecture
Seminars
Lecture
Seminars
Assets 2
Topic(s) dealt with in prior week’s lecture
Liabilities
Topic(s) dealt with in prior week’s lecture
4
5
6
7
8
9
03.10.2023
10.10.2023
17.10.2023
24.10.2023
31.10.2023
07.11.2023
10
14.11.2023
11
21.11.2023
Lecture
Session Title and Description
Seminars
Lecture
Seminars
Lecture
Seminars
Lecture
Seminars
Lecture
Seminars
Lecture
Seminars
Lecture
Seminars
Lecture
Seminars
Lecture
Seminars
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Sage 50 Accounts
Sage 50 Accounts
Sage 50 Accounts
Sage 50 Accounts
Sage 50 Accounts
Sage 50 Accounts
Elliott & Elliott chapters 9 and
10; the IASB’s Conceptual
Framework
Elliott & Elliott chapter 17
Elliott & Elliott chapter 13
Term Two
Wk
19
16.01.2024
Session Title and Description
Reading to complete
Consolidated Statement of Financial
Position
IFRS 3, IFRS 10 & IFRS 12
Topic(s) dealt with in prior lecture
Elliott & Elliott chapter 22
Consolidated statement of Financial
Position
IFRS 3, IFRS 10 & IFRS 12
Topic(s) dealt with in prior week’s lecture
Elliott & Elliott chapter 23
Lecture
Consolidated Statements of Profit or Loss
and Other Comprehensive Income, and
Changes in Equity
IFRS 3, IFRS 10 & IFRS 12
Elliott & Elliott chapter 24
Seminars
Topic(s) dealt with in prior week’s lecture
Lecture
Accounting for associates and joint
ventures
IAS28, IFRS 11 & IFRS 12
Topic(s) dealt with in prior week’s lecture
Elliott & Elliott chapter 25
Lecture
Consolidated Statement of Cash Flows
IAS 7, IFRS 3, IFRS 10 & IFRS 12
Elliott & Elliott chapter 24
Seminars
Topic(s) dealt with in prior week’s lecture
Lecture
Combining consolidations in complex
scenarios
Seminars
Topic(s) dealt with in prior week’s lecture
Lecture
Revenue recognition and construction
contracts
IFRS 15
Topic(s) dealt with in prior week’s lecture
Elliott & Elliott chapter
8 & 21
Events after the reporting period and
Accounting policies and errors, and
Deferred tax
IAS 10, IAS 8, IAS 12
Topic(s) dealt with in prior week’s lecture
Elliott & Elliott chapter 16
Lecture
Interpretation of financial statements using
ratio analysis
Elliott & Elliott chapters 28
& 29
Seminars
Topic(s) dealt with in prior week’s lecture
Lecture
Revision 1
Seminars
Topic(s) dealt with in prior lecture
Lecture
Revision 2
Seminars
Revision 3
Lecture
Revision 4
Seminars
Revision 5
Lecture
Seminars
20
23.01.2024
21
30.01.2024
Lecture
Seminars
22
06.02.2024
Seminars
23
24
25
13.02.2024
20.02.2024
27.02.2024
Seminars
26
05.03.2024
Lecture
Seminars
27
28
29
30
12.03.2024
19.03.2024
26.03.2024
02.04.2024
Professional body past
papers
Elliott & Elliott chapter 4
In addition to the teaching and learning activities within the module, additional
study support can be seen at: Academic Skills
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Assessment
First sit
assessments
Deadline or
exam period
Weighting
out of
100%*
Maximum
length
Marking
type
Sage test
14 November
2023
May 2024
examination
period
30%
2 hours
Numerical
Learning
outcomes
mapped to this
assessment.
5-6
70%
3 hours
Numerical
1-4
IFRS
Examination
*The weighting refers to the proportion of the overall module result that each
assessment task accounts for.
Details of exam arrangements will be provided approximately six weeks before the
exam period.
Marking, feedback and next steps
To pass this module, you must achieve an overall mark of 40+.
The Sage Test is an in-class computer-based test. The test is a case study giving
students 20 tasks to complete in Sage software and upload their reports and
backup to a specially created folder on University OneDrive.
The IFRS Exam contains 5 questions in total (of which students are required to
answer 4 questions). The exam duration is 3 hours. In section A there are 2
compulsory questions which all candidates must answer both. First question will
include Consolidated Statement of Financial Position (SFP) and possible
discussion/numerical element relating to consolidations generally and the second
question will cover The IASB’s Conceptual Framework. In section B, all candidates
must answer 2 of the 3 questions in section. All 3 questions will carry equal marks
and can cover any part of the syllabus (including topics covered in the compulsory
section).
For coursework, the marks and feedback will normally be provided to students
within fifteen working days of the submission deadline. In exceptional
circumstances, where there is a delay in providing feedback, you will be informed
by the module leader.
If you do not pass a module at the first attempt, you may be eligible for a resit
opportunity on the failed assessments. The Exam Board will decide whether you
will have an opportunity to resit. They will consider your overall set of results and
profile, including other modules, and your engagement on the programme, for
example, whether you have attempted assessments or not. Note that marks on resit
assessments are capped at 40% unless extenuation has been applied for and
granted.
For further details on resit assessments, please see section 7 below. The
assessment and feedback policy can be accessed at Assessment and Feedback
Policy
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Extenuating circumstances and student support
The University recognises there are times when serious and unexpected matters
which are beyond a student’s control (such as serious illness or injury, death in
family) impact on their academic performance and ability to complete assessments
by the deadline. Guidance on claiming extenuation can be found at: Extenuating
circumstances
External Examiner
The External Examiner for this module is:
Name: Duncan Finn
Institution: University of Kent, Kent Business School
Please note that the role of the External Examiner is to evaluate the overall
standard of assessments on the module. They are unable to correspond with
individual students about their work. If you need to discuss your marks or
feedback, please contact the module leader.
Resit assessments
Assessment Schedule
Resit
assessments
Deadline
Weighting
out of
100%*
Maximum
length
Marking
type
Sage Test
July 2024
Resit
Period
30 %
2 hours
Numerical
Learning
outcomes
mapped to this
assessment.
5-6
IFRS Examination
July 2024
Resit
Period
70 %
3 hours
Numerical
1-4
Students required to re-sit the IFRS examination and Sage test will continue to have
access to all module materials via the Moodle site. Additionally, students can contact
the Module Leader for support as required.
Reading recommendations
The following are suggested readings for the module. Additional, more detailed
reading recommendations will be provided for the module topics.
Author
Title
Kelly, J.
2016
Sage 50 Accounts (4th Ed.)
Barry Elliott
and Jamie
Elliott
2019
Financial Accounting and Reporting,
19th Edition
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Publis
her
John
Wiley
& Sons
Pearso
n
ISBN
978-1-11921415-1
978-1-29225602-3
Supplementary reading
IASB
Standards
http://www.iasplus.com/en/standards
IASB
Ethical Compliance for Research on Taught Courses
University policy requires ANY research which might involve human participants to use set
procedures for informing participants, obtaining their informed consent to provide data,
collecting and storing data. This includes the collection of data for formative or extracurricula activities.
Normally this requirement will impact upon approval of topics for undergraduate and
postgraduate dissertations BUT may also impact upon individual assignments where a
student or group of students will undertake primary research.
Where a course includes an assessment item involving student collection of data, whether
from human participants or not, before any data is collected each student on such a course
must:
 Undertake and pass the Epigium Research Ethics online course, if they have
not already done so;
 Register the details of the project on the online Ethics Approval Form on
the FBUS Research Ethics Moodle site;
All data collected in the course of the project must be:
 stored on the student’s University Home (G:) or OneDrive only1;
 destroyed following the confirmation of results at the PAB or resit PAB.
In addition, any student collecting data from human participants must:
 Not collect data that is sensitive in nature or is collected from University of
Greenwich staff, nor from vulnerable populations such as children;
 Provide all participants with an offline or online participant information sheet
and consent form, using the authorised template;
 Include the participant information sheet consent form template as
appendices to the submitted assignment;
 Include any questionnaire or interview guide as appendices to the submitted
assignment;
 If collecting data online, utilise the University’s subscriptions to JISC Online
Surveys, Office 365 Forms, SNAP, Qualtrics, Teams, Skype for Business
or AdobeConnect;
 Not collect data using public domain tools such as
SurveyMonkey, GoogleDocs, Google Hangouts (which are outside EU
regulation).
If any variation from the set procedures is sought:
i.
an individual application must be made to the Business Faculty Research
Ethics Committee using a University Research Ethics Application Form available
from: https://docs.gre.ac.uk/rep/vco/urec-application-form.
ii.
The response of the committee will be emailed to the student’s University
email address. The email confirming ethics approval has been granted must be
kept and included as an appendix to the assignment submission it has been
granted for.
iii.
Where an application is not approved, the Committee will provide contact
details for the person the student should approach to negotiate the next steps.
Failing to comply with the conditions of this policy is an academic offence.
FREC process Nov 2019 Rev.docx
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Additional module information
Costs
There are no module specific costs.
Changes to the module
At the University of Greenwich, we value feedback from students as well as External
Examiners and other stakeholders and we use this information to help us improve
our provision. For example, on this module we have introduced ‘exam bites’ which
are video recordings of how to tackle common examination scenario questions:
These have received overwhelmingly positive feedback since their introduction.
Important note: The University of Greenwich will do all that it reasonably can to
deliver the module and support your learning as specified in our handbooks and
other information provided. However, under some circumstances, changes may
have to be made. This may include modifications to the:




content and syllabus of modules, including in relation to placements
timetable, location and number of classes
content or method of delivery of your module
timing and method of assessments.
This might be because of, for example:




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academic changes within subject areas
the unanticipated departure or absence of members of university staff
where the numbers expected on a module are so low that it is not possible
to deliver an appropriate quality of education for students enrolled on it.
industrial action by university staff or third parties
the acts of any government or local authority
acts of terrorism.
In these circumstances, the University will take all reasonable steps to minimise
disruption by making reasonable modifications. However, to the full extent that it is
possible under the general law, the University excludes liability for any loss and/or
damage suffered by any applicant or student due to these circumstances.
Digital Student Centre (non-academic queries)
Our new Digital Student Centre is your space to find answers 24/7 to your questions about
student life, helping you get the support you need when you need it. AskUoG provides you with
hundreds of up-to-date articles covering topics such as student engagement, student finance,
academic and personal conduct, accommodation, visa and international student advice,
disability, mental health and wellbeing support.
You can also download important documents like bank, student status and council tax letters by
visiting My Documents on the Digital Student Centre (eligibility criteria apply).
If you can't find the right answer or need more personalised support for your query, you can
create an enquiry and our specialist teams will respond swiftly. You will be able to track your
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requests and check the status of your enquiries in real time.
For academic queries, always contact the staff who work with you on your academic programme
- your programme leader, module leader or personal tutor.
Other Details
The majority of information relevant to you while you study at the University has been brought
together into your programme handbook. Please refer to your programme handbook for any
further information you might require including:
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Deadlines and extenuating circumstances,
Plagiarism and referencing,
Who to go to for advice or if you are concerned,
How to provide us with feedback,
Key administrative procedures.
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