FIN2254 FINANCIAL ACCOUNTING 1
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Course/ Module: |
FINANCIAL ACCOUNTING 1 |
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SEGI Course Code: FIN2254 |
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Lecturer name: Sitti Hasinah |
Coursework Submission Date: Assignment 1: Week 10 Assignment 2: Week 12 |
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ASSESSMENT METHODS
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Number of Assessments |
Form of Assessment
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% weighting |
Size of Assessment/Duration/ Word count |
Coursework |
Learning Outcomes being assessed |
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1 |
Calculation & Essay Submission |
30% |
2,500 words report |
Individual Written Coursework |
1 to 3 |
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1 |
Presentation |
20% |
Presentation Slides |
Group Presentation |
1 to 3 |
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1 |
Final Exam |
50% |
2,500 words report |
Final Exam |
1 to 3 |
WRITTEN COURSEWORK
Regulations
Students must submit all materials supporting their coursework listed in the deliverable section.
§ Please make sure that you are aware of the rules concerning plagiarism. If you are unclear about them, please consult your program coordinator/lecturer.
§ Students will have 2 Plagiarism policies in place – double award students the UCLAN Plagiarism policy will override SEGi Plagiarism Policy. The appended table provides the summary of the 2 policies.
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UCLAN Plagiarism Policy |
SEGi Plagiarism Policy |
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Single offence – 0 marks – affected assessment to be re-submitted and student can only secure pass mark |
Minor Plagiarism: poor in-text referencing and few paragraphs being copied – stern warning and or counseling |
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Repeat offended – 0 marks and no opportunity to re-submit – student can retake courses |
Moderate Plagiarism: copying some paragraphs and results without in-text referencing – awarded next lower grade |
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Major Plagiarism; Most of the work is copied and cases of repeat minor and major plagiarism – Fail and re-take or suspension or dismissal |
§ The coursework should exhibit formal research skills i.e. with a table of content, proper citations, references, and appendixes.
§ The coursework write up must be able to demonstrate critical analysis and application of both theory and practical issues to the company that you have selected.
§ Student may include additional relevant data/information apart from the proposed guidelines in conjunction to your research. Additional marks will be awarded for such attempt.
· All written reports MUST be submitted for similarity checks to Turnitin.
· Extensions
Authorisation of the late submission of work requires written permission. Your lecturer is authorised to give permission for one extension period of between 1 and 10 working days where appropriate evidence of good reason has been accepted and where submission within this timescale would be reasonable taking into account your circumstances. Requests for extensions should be made prior to the submission date as extensions cannot be given retrospectively.
§ Late submissions
If you submit work late without authorisation, a universal penalty will be applied in relation to your work. The appended table summarises the SEGi/UCLAN penalties.
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SEGi/UCLAN Penalties |
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Submission within 5 working date following published deadline – given a pass (50 marks for the component of assessment) |
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Submission later than 5 working days – awarded 0 marks for the component |
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Unauthorised late submission at supplementary will be automatically be awarded 0marks for the component assessment |
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Learning Outcomes tested
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Assessment Criteria : Students must demonstrate the ability to: |
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· LO1 : Understand the integrated theoritical principles of accounting and to explain by recognizing the accounting concepts and conventions present in accepted accounting principles & in line with MFRS/IFRS.
· LO2 : Acquire information from primary and secondary sources to facilitate the effective recording and summarizing of accounting data by explaining through data collection methodology techniques and approches assessed through journals and statements
· LO3 : Apply and Prepare basic financial statements for profit-making & non-profit-making organizations by analyzing accounting transactions, explaining in an integrative perspective & interpreting information according to the standards of IFRS/MFRS and in communicating effectively the accounting information in forms of statements for better decision making by users.
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· appreciate the purpose of accounting and the roles of the accounting standards board. Students should also know the qualitative characteristics of financial statements.
· understand format of a trial balance. Students will also be required to identify the items to be transferred from the T-accounts or ledgers to the trial balance. · identify correctly the items to be classified under the Statement of Comprehensive Income and Statement of Financial Position. Students should also be able to prepare financial statements for sole traders
· able to differentiate and describe bad debts, bad debts recovered and bad and doubtful debts. Also, students should be able to describe the different types of doubtful debts namely specific and general doubtful debts. In addition, students should also demonstrate the accounting treatment for bad debts, bad debts recovered and doubtful debts accordingly. · Apply critical thinking, analytic, communication and team building skills through group presentation, problem solving and discussions.
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COURSEWORK QUESTION
INDIVIDUAL WRITTEN ASSIGNMENT (30%)
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The following are extracted from the Cash Book of Swift and its Bank Statement (received from Sinivac Bank) for the month of January 2023:
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2023-09-21