Accounting and Finance with Foundation Year

This module aims to develop the fundamental concepts and practices of financial accounting and the application of this knowledge to different forms of business organisations. With a focus on using the IASB’s Conceptual Framework and accounting for transactions and events from first principles, you will develop your conceptual understanding of accounting, your knowledge of the main accounting terminology and your awareness of the nature and purpose of financial reporting. You will acquire the techniques of double entry accounting and how to apply its principles in recording transactions, adjusting financial records and preparing non-complex financial statements.

The module introduces management accounting as a specialised service function primarily involving the collection, storage and recording of financial data, its conversion to useful information and the effective communication of this information for decision making. It prepares you for more advanced aspects of management accounting and finance encountered later in the programme.

This module provides you with a holistic view of how an entity’s performance can be affected by both its own internal operating environment and the external environment. It develops your knowledge and skills in understanding and applying the legal principles in the context of the business environment and to educate students on lawful and ethical behaviours for professional accountants. You will study various aspects of management theory, external environment mapping and uses of technology by businesses and finance professionals.

Whatever your future career, there are certain professional skills that are required in the workplace. This module provides opportunities to acquire and apply essential skills for academic success, while also developing digital skills that are a prerequisite for a successful career. You will practice, and build confidence in wide ranging skills, as part of your transition into higher education. By establishing and pursuing a personal development plan, you will develop a set of personal qualities such as self-awareness, confidence and resilience; and professional skills such as communication, teamwork, risk management, coaching and feedback. Whilst you learn to construct outstanding CVs and professional LinkedIn profiles, this module also aims to raise your digital skills competencies. The module will cover the general Microsoft Office suite and specific digital skills of particular relevance to the discipline that the you are studying. This module is taught as a mix of lectures, practitioner guest lectures, hands-on skills seminars and computer lab sessions.

This module enables you to develop your understanding and competence in using diverse research methods for academic and professional purposes. You will explore a variety of research approaches and will develop practical qualitative and quantitative research skills including defining and scoping a project; designing an effective and manageable research protocol; collecting data and using appropriate analysis methods. In addition, you will develop an appreciation of ethical implications of the research process to facilitate responsible research practice. Secondly this module aims to introduce you to the key stages required to complete an applied project from concept to delivery. You will be taught how to manage a project and contribute effectively as a member of a project team, using ideas generation techniques and problem-solving skills to develop innovative solutions to business problems. This module contributes to your continued professional development as you gain key insights into how to perform technical process improvement tasks in a range of environments to solve business problems.

This module builds on the knowledge of financial accounting from year 1 by requiring you to extend your understanding of double entry bookkeeping to the application of the International Financial Reporting Standards (IFRS). The approach to teaching the IFRS will be Framework-based, an approach recommended by the IASB. The Framework-based approach develops a critical understanding of the well-established principles around corporate reporting. You will be taught from exercises and case studies to illustrate key aspects of technical knowledge and to facilitate skills development. Cases are a very effective and enjoyable way to learn because they recount real life or lifelike business situations that present managers with a dilemma or uncertain outcome. This allows you to evaluate critically the appropriateness of certain accounting treatments and consider these within an ethical context. Cases come from a range of situations and organisations, so you can quickly and efficiently gain a breadth of experience and an appreciation of the limits to your knowledge.

This module introduces the core concepts and key topic areas of business finance and the financial environment. It will enable you to develop knowledge and understanding of how the financial markets operate, evaluate alternative sources of finance available to a business, calculate the cost of different sources of finance and the weighted average cost of capital of a business. You will undertake and critique techniques for capital investment appraisals, and business and financial asset valuation, and analyse critically the efficient market hypothesis, capital structure theories and dividend policies. By completing this module, you will be prepared to study more advanced finance, i.e. financial risk management, in your final year of study.

Pick two of the following modules:

Personal Income Taxation - 15 credits

This module aims to develop your knowledge and understanding of the overall function and purpose of UK taxation in a modern economic context. You will learn how to calculate income tax payable by individuals and NICs payable by employees, employers and the self-employed. In addition, you will learn about, and critically evaluate and analyse, the objectives of the UK tax systems for individuals, with an emphasis on income tax and NICs. Finally, on completion of this module, you will be able to recognise the professional standards and ethical issues in relation to a tax practice.

Data Analysis - 15 credits

An understanding of data and an appreciation of the key tools needed to analyse business data is becoming an essential skill for finance professionals. This module introduces you to the topic of data analytics and demonstrates how to apply it effectively in a business context. On this module, you will learn how to select and use tools to extract, validate and analyse data. Communication and visualisation of data, for example by using pie charts or cluster diagrams, will also be covered, allowing you to communicate your findings to both accounting and finance specialists and non-specialists.

Financial Modelling - 15 credits

This module aims to provide you with an understanding of Excel and its application in financial modelling. you will develop proficiency in using Excel, covering the basic Excel tools and advanced functions. By taking this module, you have the opportunity to gain the skills and knowledge that are required in the creation of financial models that accurately reflect a company’s financial performance, such as the financial statements, valuation, sensitivity analysis, etc.

Business and Corporate Taxation - 15 credits

This module aims to develop your knowledge and understanding of the overall function and purpose of UK taxation in a modern economic context. You will learn how to calculate corporation tax, value added tax (VAT) and capital gains tax liabilities. In addition, you will learn about, and critically evaluate and analyse, the scope and objectives of UK tax system for business entities, including analysis of the implications of non-compliance and tax avoidance. Finally, on completion of this module, you will be able to recognise the professional standards and ethical issues in relation to a tax practice.

This module develops an understanding of the key concepts of investments and financial risk management. It introduces the core investment principles and techniques which will enable students to make informed investment decisions. Students will also gain knowledge in sustainable investing, which is an essential area of study within the field of investment in
today’s world. In addition, it will develop students’ knowledge and understanding of the
various types and nature of financial risk. It covers the main frameworks and techniques
concerning the practical aspects of financial risk management.

This module aims to extend student knowledge and application of IFRS to more detailed and
complex areas of reporting. The technical content is mapped to professional qualification
requirements and students will need to pass this module in order to gain full exemptions.
An inquiry guided approach to learning will be adopted with students drawing on the
conceptual framework and accounting standards introduced in level 5 to solve the challenges of reporting in other areas. Inquiry is an active approach to learning which is designed to support students in analysing technical issues, creating valid approaches to reporting and critically evaluating the current IFRS. Students will be exposed to technical articles and scholarly reviews and will be expected to draw on these to make informed judgements and sustain arguments on the reporting of financial transactions. Students will employ analytical skills to interpret financial statement information and develop an appreciation of the uncertainty and subjective nature of financial reporting.

• Strategic Performance Management - 15 credits
• Audit & Assurance - 15 credits
• Strategic Leadership and Governance - 15 credits
• Digital Finance - 15 credits
• Capstone Project: Dissertation - 30 credits
• Capstone Project: Placement for Good - 30 credits
• Capstone Project: Consultancy Project - 30 credits
• Capstone Project: Start Up For Good - 30 credits