The module also aims:
to build on the book-keeping techniques used in ACFI101 and apply them using computerised financial accounting software.
to develop an approach for financial modelling using Microsoft Excel and apply this approach by constructing models that can be used for financial analysis and decision-making.

(LO1) Demonstrate understanding of how to account for all the typical transactions of a small business including transactions involving PAYE, NI and VAT.

(LO2) Process all types of standard business transactions and adjustments through commonly-used financial accounting software (Sage 50 Accounts).

(LO3) Produce reliable information from Sage using standard reports and design suitable non-standard reports.

(LO4) Design, build and test spreadsheet models, suitable for use by third parties, that aid planning and decision-making.

(LO5) Make a formal presentation of a financial model to a specified audience.

(S1) Problem solving skills

(S2) Numeracy

(S3) Commercial awareness

(S4) Teamwork

(S5) Organisational skills

(S6) Communication skills

(S7) IT skills

Teaching Method: Lecture
Scheduled Directed Student Hours: 2
Attendance Recorded: Yes

Teaching Method: Laboratory Work
Scheduled Directed Student Hours: 18
Attendance Recorded: Yes
Notes: Workshops in IT labs

Self-Directed Learning Hours: 130
Description: These independent learning hours are aimed at supporting the directed student learning. The module leader will provide guidance in the form of suggested readings and topics to examine with the expectation that students are well prepared to contribute to the tutorial activities and to understand the content of lectures. Self-Directed Learning will include research activity, developing academic writing skills, and wider reading to support the module

Skills/Other Attributes Mapping

Skills / attributes: IT skills
How this is developed: These particular skills will all be developed further by working on both of the case study assignments
Mode of assessment (if applicable): Group P resentation and Group Report

Skills / attributes: Communication skills
How this is developed: This skill will be developed further in the second case study assignment
Mode of assessment (if applicable): Group Presentation

Skills / attributes: Organisational skills
How this is developed: These particular skills will all be developed further via students' private study and by working on both of the case study assignments
Mode of assessment (if applicable)

Skills / attributes: Teamwork
How this is developed: These particular skills will all be developed further by working on both of the case study assignments
Mode of assessment (if applicable): Group Presentation and Group Report

Skills / attributes: Commercial awareness
How this is developed: These particular skills will all be developed further by working on both of the case study assignments
Mode of assessment (if applicable): Group Presentation and Group Report

Skills / attributes: Numeracy
How this is developed: These particular skills will all be developed further by working on both of the case study assignments
Mode of assessment (if applicable): Group Presentation and Group Report

Skills / attributes: Problem solving skills
How this is developed: These particular skills will all be developed further by working on both of the case study assignments
Mode of assessment (if applicable): Group Report

The functions and purposes of accounting software: Financial Accounting Systems and Management Information Systems (MIS)

Financial accounting software:

VAT: background, rates, basic regulations and accounting;
Accounting for payroll: PAYE income tax, employers' and employees' National Insurance (NI);
The imprest system;
The Chart of Accounts;
Coding: key considerations;
Setting up a new company in Sage: setting-up product, supplier, customer and bank details;
Processing transactions using Sage: sales and purchase orders, invoices and credit notes, bank payments and receipts, petty cash, wages, period-end adjustments;
The Fixed Asset Register;
Audit/control considerations: internal controls, reconciliations, data validation, suspense accounts and mispostings;
The correction of errors in Sage;
Incorporation of budget figures;
Producing standard reports: Nominal Activity, Audit Trail, Trial Balance, Income Statement , Balance Sheet;
Designing new reports that are clear, relevant and useful.

Financial Modelling:

What is a financial model?;
Introduction to flexible modelling;
Spreadsheet modelling best practice;
Defining the scope of your model;
Building a spreadsheet model: key considerations.
Navigation and shortcuts using Excel;
Enhancing spreadsheet models using the inbuilt features of Excel: Intermediate and more advanced features;
Modelling mountain approach;
Expanded models with debt, depreciation and dividends;
Dealing with negative bank balances using IF functions;
AVERAGE, MAX and MIN commands;
Circularities and iterations;
Testing the reliability of a model;
Good presentation when saving your model.