RE2BAT: Business Accounting and Taxation

Module Provider:

Real Estate and Planning

Number of credits:

10 [5 ECTS credits]

Level:

I (Intermediate)

Terms in which taught:

Spring

Module Convenor:

Mr R Gibbard

Pre-requisites:

RE1MFI

Co-requisites:

Modules excluded:

Module version for:

2007/8

Aims:
This module aims to introduce students to the system of national taxation operating in the UK, and to develop an understanding of how it impacts on the ownership of real estate and the businesses that occupy it. Additionally, and developing some of the concepts introduced at Part 1 (RE1MFI) the module aims to further develop students’ understanding of company accounts, and in particular how property company accounts are presented and interpreted.

Assessable learning outcomes:
On completion of the module, students should be able to comment on the various UK taxes, how they are computed, and how they affect the ownership of property. Students should be able to calculate taxation liability arising in a number of simplistic situations.
Students should be able to demonstrate an awareness of the structure of company accounts and to calculate key ratios of performance and comment on their findings.

Additional outcomes:
The module also aims to develop students’ analytical skills, and their ability to apply them to financial scenarios, and to be able to effectively communicate their recommendations to third parties.

Outline content:
The taxation element will consist of basic introductions to: Income Tax, Corporation Tax, Capital Gains Tax, Inheritance Tax, Value Added Tax and Stamp Duty Land Tax. For each, the basic principles will be examined, together with a more detailed study of how the tax impacts on property.

The accounting element will examine the structure and presentation of various accounting tools, notably cashflow analysis, profit and loss and balance sheet. Students will be introduced to the analysis of financial data and the computation of various key ratios derived from company accounts, and how to interpret their findings.

Brief description of teaching and learning methods:
Taxation and accounting will each be taught by a series of lectures, with background guided reading material and Blackboard in support.

One two-hour lecture per week, for which students will carry out preparatory reading.
A revision session will be held in the summer term.

Contact hours:

Assessment:
Coursework
None
Relative percentage of coursework :
N/A
Penalties for late submission
N/A
Examinations
One two-hour paper to be taken May/June (100%).
Requirements for a pass
A mark of 40% overall
Reassessment arrangements
Re-examination by a two-hour paper in August/September (100%)