Course Information Undergraduate prospectus

Administration, Accounting and Taxation for Small Entities

Course summary

Course code: ACCO1154
Level: 5
Credits: 30
School: Business Faculty
Department: Accounting and Finance
Course Coordinator(s): Karen Aldridge


Pre and co requisites

BAAF year 1 (or equivalent for direct-entry students)


The course is aimed at students considering working for a small entity, being self-employed or working for a firm of accountants dealing with smaller entities. It provides broad appropriate knowledge and practices required in an environment of UK small GAAP and in particular small entity accounting, financing, administration and taxation needs.

Learning outcomes

On successful completion of this course a student will be able to:

1 Understand and evaluate the different legal vehicles by which small entities (including charities) may operate and related financing aspects thereof.
2 Understand and evaluate different ‘professionals’ that a small entity may use, in particular ‘the accountant’. Preparation of financial statements and accounting records for UK small entities under UK small GAAP including incomplete records, wages and partnership accounting.
3 Understand, calculate and evaluate the different forms of taxation that small entities encounter and how to deal with returns to HMRC.
4 Be able to select relevant and cost-effective management accounting activities for small entities.
5 Assess the nature and value of external assurance and non-assurance services.
6 Control, assess, summarise, evaluate and communicate information by developing arguments referring to appropriate sources and drawing reasoned conclusions. Possess appropriate knowledge and skills for a work place environment, including presenting key points clearly.

Indicative content

• The nature of small entities
• Management accounting (cash control, stock control, budgets)
• Financial accounting (FRSSE, single-entry and incomplete records, partnerships, payroll, incomplete records, petty cash, I&E accounts, R&P accounts) and special cases such as charities and solicitors.
• Entity administration, auditors and other professionals (the auditor, accountant and other professional services) used by small entities
• Legal structures for small entities (sole trader, partnerships, Limited Partnerships, LLPs, Limited Liability Companies, unincorporated bodies, etc.) including charities and the nature and benefits of co-operatives.
• Financing small entities

Teaching and learning activity

This course will be delivered by a combination of lectures and supporting seminars. Contact through lectures will provide a subject focus for the course. The lectures will stimulate an enquiring and exploratory approach to the study of the subject through guided analysis and reflection.

Seminars will involve student centred activities such as presentations and group discussions based on directed reading and set exercises. Each week students will be presented with exercises and case studies which they will be required to prepare for the following weeks’ seminar. The seminars will also provide a forum for considering questions and issues students raise as a result of their private study.

To facilitate and support independent learning, students will be provided with a reading list that will cover general background literature and more specialist and topical material drawn from the prescribed textbooks, journal articles and the financial and business press.


Individual Essay - 20% weighting, 40% pass mark, learning outcome 6.

In-class Test - 20% weighting, 40% pass mark, learning outcome 2. 45 minutes.

Examination - 60% weighting, 40% pass mark, learning outcome 1-5 (6). 3 hours.

Students are not required to pass all components in order to pass the course.