Synopsis of Module
This is intended to be primarily a practical, 'hands on' module in which students learn how to use computer software (mainly spreadsheet and accountancy packages) to model and solve a variety of accounting problems, and to set up and operate a computerised ledger system. The practical work students undertake in this module will underpin, develop and enhance their other level 1 accountancy studies.
This module is assessed by coursework portfolio.
Aims of Module
The aims of the module are:
| 1. | To enable the student to use reliably a spreadsheet package to model problems in basic finance and accounting. |
| 2. | To give the student an understanding of the importance of the validation and testing of computer models. |
| 3. | To give the student practical experience on the use of an industry standard accountancy package. |
| 4. | To give the student a basic appreciation of the implementation, security and auditing issues in using a computerised accountancy system. |
Learning Outcomes
Upon completion of the module, students should be able to:
| 1. | Construct and validate efficient spreadsheet models to solve basic accounting problems. |
| 2. | Set up and implement an accounting system using an industry standard accountancy package. |
| 3. | Use an industry standard accountancy package to process transactions and produce periodic reports. |
| 4. | Discuss the main implementation, security and auditing issues in the use of computerised accountancy packages. |
Outline Syllabus
Spreadsheet modelling (60%)
Students will undertake a series of case studies involving the building, testing and validating of a variety of accountancy models e.g.
| • | Modelling cash flows for investment appraisal purposes, calculation of present values, net present value and internal rate of return. |
| • | Breakeven modelling and analysis, profit planning. |
| • | Regression and correlation analysis. |
| • | Trend analysis, seasonal variations and associated budgeting issues. |
| • | Extended trial balance models with end of year adjustments and the generation of income statements and balance sheets. |
| • | Profit appropriation modelling. |
Use of computer accountancy packages (40%)
| • | Designing and setting up a chart of accounts, entering opening balances, generating source documents, inputting transactions (issue of invoices, recording invoices, debit and credit notes, cash and bank transactions, other transactions). Credit control, and stock control issues. The generation of trial balances and other management reports. VAT records and reports. Stock control and payroll. Entering end of period adjustments and generating financial statements. Reports for tax purposes. |
| • | Implementation and security considerations. Auditing issues, tracing and correcting errors. |
Summative Assessment
Assessment A is an in-course assessment on financial modelling; the weighting of this assessment is 50%.
Assessment B is Sage accounts assessment; the weighting of this assessment is 50%.
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