LSC UoS BA in Business
Assignment Brief
Course/Programme: BA Business
Level: 5
Module Title: Accounting for Business
Module Leader: S. A. Palan
Assignment titles: Accounting concepts
Assignment number: 1
Weighting: Individual assignment: 30%
Date given out: April 2023
Submission date: 19th May 2023
Eligible for late submission (3 Yes
working days, with penalty)?
Method of submission: X Online only Online and paper
copy
Special instructions for
submission (if any):
Date for results and feedback:
Employability skills assessed: C1: Reading, selecting, analysing and synthesising
information from a range of sources
C2: Producing different types of document
C3: Participating in discussions
IT1: Preparing information
N3: Presenting your findings
S1: Plan personal work schedules
WWO2: Working towards identified targets
Learning outcomes assessed: LO1: Understand the theoretical and conceptual
underpinning and frameworks for financial accounting
LO2: Understand and consider the issues in revenue
recognition, expense recognition, accruals, prepayments,
depreciation, inventory valuation, recognition of liabilities
in the construction of core financial statements for sole
traders and limited companies
TASK DESCRIPTION
In the UK, a conceptual and regulatory framework is currently in place for
financial reporting as required by the International Accounting Standards Board
(IASB).
TASK
Discuss six accounting concepts used in the preparation of financial
statements. Use examples to illustrate the application of these accounting
concepts.
LENGTH
REQUIRED
1000 words +/- 10%. Any deviation from this will be penalised.
FORMATTING AND
LAYOUT
Please note the following when completing your written assignment:
1. Writing: Written in English in an appropriate business/academic style
2. Focus: Focus only on the tasks set in the assignment.
3. Document format: Essay
4. Ensure a clear title, course, and name or ID number is on a cover sheet and a
reference using Harvard referencing throughout is also provided.
5. Research: Research should use reliable and relevant sources of information e.g.
academic books and journals that have been peer reviewed. The research should be
extensive.
The use of a range of information sources is expected – academic books, peer reviewed
journal articles, professional articles, press releases and newspaper articles, reliable
statistics, company annual reports and other company information. All referencing
should be in Harvard style
MARKING CRITERIA AND STUDENT FEEDBACK –
ASSIGNMENT 1
This section details the assessment criteria. The extent to which these are demonstrated by you determines
your mark. The marks available for each criterion are shown. Lecturers use a similar format to comment on the
achievement of the task(s), including those areas in which you have performed well and areas that would
benefit from development/improvement.
M M
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Common Assessment Criteria Applied le a
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1. Research-informed Literature 5
Extent of research and/or own reading, selection of credible sources, application of appropriate referencing conventions.
The objectives of the assignment identified and clarified.
2. Knowledge and Understanding of Subject 10
Extent of knowledge and understanding of concepts and underlying principles associated with the discipline.
With respect to the assignment topic, students must have a sound knowledge
and understanding of accounting concepts in the preparation of financial
statements.
3. Analysis 60
Analysis, evaluation and synthesis; logic, argument and judgement; analytical reflection; organisation of ideas and evidence
The ability to discuss real life situations reflecting on your own experiences through
appropriate theories, models, techniques and frameworks. Credit will be given for the
use of both quantitative and qualitative elements within the response to the question
provided the approach adopted is reasonable and is justified.
4. Practical Application and Deployment 15
Conclusion and recommendations - Ensure your conclusions and recommendations are
justified and supported by facts. They should follow logically the evidence contained in
the main body of the assignment. Reaching a conclusion based on your analysis is
important. Don’t be afraid to have an opinion.
5. Skills for Professional Practice 10
Attributes in professional practice: individual and collaborative working; deployment of appropriate media; presentation and
organisation.
Overall presentation - This should be coherent, logically organised, and clearly
expressed. They should be accurate in terms of spelling, grammar and punctuation.
Appendices should contain material relevant to supporting the assignment.
Referencing
o Use Harvard referencing style should be strictly followed.
o Ensure your reference list include all citations in the text and others which may
not be in the text (bibliography)
Ensure that your references are coming from quality sources such as articles;
textbooks and other peer-reviewed journals
Assignment Mark (Assessment marks are subject to ratification at the Exam
Board. These comments and marks are to give feedback on module work and are for
guidance only until they are confirmed. ) Late Submission Penalties (tick if appropriate)
GENERIC ASSESSMENT CRITERIA
Level 5
In accordance with the Framework for Higher Education Qualifications, at the end of Level 5 students will be expected to have
developed sound knowledge and critical understanding of the well-established concepts and principles in their field of study, and
of the way in which those principles have developed. They will have learned to apply those concepts and principles more widely
outside the context in which they were first studied, including, where appropriate, the application of those principles in an
employment context. They will have knowledge of the main methods of enquiry in the subject area, and ability to evaluate
critically different approaches to problem solving. They will possess an understanding of the limits of their knowledge, and how
this influences their analyses and interpretations. They will be able to use a range of established techniques to initiate and
undertake critical analysis of information, and to propose solutions to problems arising from that analysis. They will be able to
effectively communicate information, arguments and analysis in a variety of forms to specialist and non-specialist audiences, and
deploy key techniques of the discipline effectively. They will be able to undertake further training, develop existing skills and
acquire new competences that will enable them to assume significant responsibility within organisations. They will have the
qualities and transferable skills necessary for employment requiring the exercise of personal responsibility and decision-making.
Level 5 SATISFACTORY GOOD VERY GOOD
FAIL MARGINAL FAIL
(3rd / Pass) (2.2 / Pass) (2.1 / Merit)
Category 0-29% 30-39% 40-49% 50-59% 60-69%
Engagement Little or no Poor Engagement Engagement Engagement
with evidence of engagement with a limited withan with a wide
literature reading with essential range ofappropriate range of
(including and/or reading.No mostly range of literature,
reading,
referencing, reliance on evidence of relevant and literature, including
inappropriate wider credible including sources
academic sources. reading.Relia sources. sources retrieved
conventions and
nce on Some retrieved independently
academic Views and inappropriate omissions independently .
honesty) findings sources, and minor . Some over-
mostly and/or errors. reliance on Selection of
unsupported indiscriminate texts. relevant and
and non- use of Referencing Referencing credible
authoritative. sources. conventions may show sources.
Heavily reliant evident minorinaccura Very good
Referencing on though not cies or use of
conventions information always inconsistencie referencing,
used gained applied s. with no/very
incoherently through class accurately or few
or largely contact. consistently. inaccuracies
absent. Inconsistent or
and weak use inconsistencie
of s.
referencing.
Knowledge Major gaps in Fragmentary Limitedbut Knowledge is Knowledge is
and knowledge knowledge, adequate reasonably reasonably
understandi withunsatisfac with only knowledge detailed and extensive.
ng (Sound tory, superficial and critical accurate.A Exhibits very
knowledge and uncriticalunde criticalunderst understandin good critical competent
critical
understanding of
rstanding of anding. Some g of the well- understandin critical
the well- the subject significant established g of the well- understandin
established matter. Much inaccuracies concepts and established g of the well-
concepts and
principles in their
irrelevant and/or principles concepts and established
field of study; material. irrelevant within the principles and concepts and
knowledge of the Substantial material. subject area, the main principles of
main methods of
enquiry in the
inaccuracies. Incomplete or with a few methods of the subject
discipline.) Significantly partially gaps in the enquiry, with and the main
flawed flawed selection of minor gaps in methods of
understandin understandin material. A the selection enquiry.
g of the main g of the main narrow critical of material. Breadth and
methods of methods of understandin depth of
enquiry in the enquiry in the g of the main knowledge.
discipline. discipline. methods of
Level 5 SATISFACTORY GOOD VERY GOOD
FAIL MARGINAL FAIL
(3rd / Pass) (2.2 / Pass) (2.1 / Merit)
Category 0-29% 30-39% 40-49% 50-59% 60-69%
enquiry.
Cognitivean Wholly or Largely Limitedattemp Some critical Sound critical
d almost wholly descriptive t atcritical evaluation evaluation
intellectual descriptive work, with evaluation and analysis and analysis
skills work. Little or superficial and analysis of concepts of concepts.
no critical use of critical of concepts and Is selective in
(Critical
evaluation and
evaluation evaluation and principles, the range of
analysis of and analysis and analysis principles, though evidence
concepts and of concepts of concepts tending descriptive in used and
principles;argume
nt and and and towards parts. synthesises
judgement; the principles. principles. description. rather than
limits of their Weak An emerging describes.
knowledge, and Failure to development Some awareness Ability to
how this develop of arguments evidence to the limits of devise
influences their
analyses and arguments, and supportargum their argumentstha
interpretations.) leading to judgements. ents and knowledge t show
illogical or Information judgements and ability to awareness of
invalidjudgem accepted but these may use evidence different
ents. uncritically, be to support the stances, and
Unsubstantiat uses underdevelop argument use
ed generalised ed, with a though with evidenceconv
generalisation statements little some incingly,to
s or opinion, made with inconsistency tendency to support
made without scant / mis- assert/state appropriate
use of any evidenceand interpretation opinion rather and valid
credible unsubstantiat or failure to than argue on judgements.
evidence. ed opinions. fully the basis of
Ideas recognise reason and
sometimes limits of evidence.
illogical and knowledge.
Mostly valid
contradictory.
arguments
and logical
judgements.
Practical Limited or no Rudimentary An adequate A good and A very good
Level 5 SATISFACTORY GOOD VERY GOOD
FAIL MARGINAL FAIL
(3rd / Pass) (2.2 / Pass) (2.1 / Merit)
Category 0-29% 30-39% 40-49% 50-59% 60-69%
skills use of application of awareness appropriate application of
established established and mostly application of a range of
(Apply underlying
concepts and
methods, methods, appropriate established established
principles more materials, materials, application of methods, methods,
widely outside the tools and/or tools and/or established materials, materials,
context in which
they were first
techniques. techniques methods, tools and/or tools and/or
studied; use a but without materials, techniques. techniques.
range of Little or no consideration tools and/or
established appreciation and techniques. Clear Very good
techniques;
propose solutions of the context competence. appreciation consideration
to problems of the Flawed Basic of the context of the context
arising from application. appreciation appreciation of the of the
analysis.)
of the context of the context application. application,
Limited of the Mainly with
of the
understandin application. consistent, perceptive
application.
g of the Theoretical accurate and insights.
application of Weak knowledge logical Consistent,
theory to understandin and application of accurate and
practiceormak g of the understandin theory to logical
ing application of g applied in practice, application of
appropriate theory to practice, but making theory to
links between practice, with not always appropriate practice,
the two. only making links between making
occasional logical links the two. appropriate
Very weak
evidence of between the links between
problem- Can identify
making two. the two.Can
solving problems and
appropriate identify
skillsoutside Can identify propose
links between problems and
the context in problems and mostly
the two. propose
which they propose basic appropriate
Weak appropriate
were first solutionsoutsi solutionsoutsi
problem- solutionsoutsi
studied. de the context de the context
solving skills de the context
outside the in which they in which they in which they
context in were first were first were first
which they studied. studied. studied.
were first
studied. Evidence of
some
creativity.
Transferable Communicati Communicati Can Can Can
skills for life on medium is on medium is communicate communicate communicate
and inappropriate poorly in a suitable effectively in well,
professional or misapplied. designed mediumfor a suitable confidently
Level 5 SATISFACTORY GOOD VERY GOOD
FAIL MARGINAL FAIL
(3rd / Pass) (2.2 / Pass) (2.1 / Merit)
Category 0-29% 30-39% 40-49% 50-59% 60-69%
practice Work is and/or not the audience medium for and
poorly suitable for but with some the audience, consistently in
(Effectively
communicate in a
structured, the audience. room for but may have a suitable
variety of forms disorganised improvement. minor errors. medium for
and/or Work is the audience.
to specialist and
confusingly poorly Mostly Mostly
non-specialist
audiences; the expressed. presented in ordered coherent, Work is
qualities and Very weakuse a disjointed presentation organised coherent,
transferable skills
of language manner. It is and structure work,in a fluent, well-
necessary for
employment and/or very loosely, and in which suitable structured
requiring the inappropriate at times relevant ideas structure and and
exercise of incoherently, / concepts are is for the most organised.Ca
personal style.Failure
responsibility and to work structured, reasonably part clearly n work very
decision-making.) effectively as with expressed.W expressed.Ca well
part of a information ork may lack n work autonomously
group.Little or and ideas coherence in effectively and/or as part
no evidence often poorly places. Can independently of a team,
of the skills expressed. work as part and/or as part with very
foremployme Weak use of of a group, of a team, good
ntrequiring language meeting most with clear contribution to
the exercise and/or obligations to contribution to group
of personal inappropriate others but group activities.
responsibility style. perhaps with activities.
Flawedappro limited Demonstrates
and decision-
ach to group involvement Demonstrates very
making.
work, meeting in group the skills for goodskills for
only partial activities. employment employment
obligations to requiring the requiring the
others.Limited Demonstrates exercise of exercise of
evidenceof the basic personal personal
the skills for skills for responsibility responsibility
employment employment and decision- and decision-
requiring the requiring the making, with making, with
exercise exercise of some areas just
ofpersonal personal of strength occasional
responsibility responsibility and some of minor
and decision- and decision- minor weakness.
making. making, with weakness.
some areas
of minor
weakness.
