Please note
This document only provides information for the academic year selected and does not form part of the student contract
School:
Huddersfield Business School
Credit Rating:
30
Level (including FHEQ):
M (FHEQ Level 7)
Graded or Non Graded:
Graded
Version Valid From:
2021-09-01
Module Leader:
Boniface Chimpango
Version Number
2022.03
Learning Methods
Guided Independent Study
Seminar
Supervised Time in Studio/Workshop
Professional Body Requirements
Solicitors Regulation Authority
Synopsis
This module is designed to provide students with a knowledge of the following main topic areas: Business Accounts – Business organisations; sole traderships; partnerships; limited liability partnerships; the formation, administration, management and control of companies limited by shares – Taxation: income tax; capital gains tax; corporation tax; value added tax … For more content click the Read More button below.
Skills development is woven throughout the whole of this module: the delivery will enhance skills in drafting, researching and interviewing and advising.
Learning Strategy
The methods used to achieve the course objectives will include the following:
All teaching sessions promote full student engagement with the learning process through the use of a variety of delivery techniques. Students analyse and discuss prepared problems and case studies. The delivery is, primarily, transactional in nature and, as … For more content click the Read More button below.
Outline Syllabus
Business AccountsIntroduction to basic bookkeeping - double-entry bookkeeping – interpretation and preparation of accountsBusiness OrganisationsThe form, legal structure and establishment of partnerships, limited liability partnerships and limited companies
TaxationThe main features of income tax, capital gains tax, corporation tax and value added tax
InsolvencyThe main features of personal and corporate … For more content click the Read More button below.
Business AgreementsAgency and distribution agreements; sale of goods; competition
Throughout the module emphasis is placed on the need to develop legal skills; in particular, drafting.
Learning Outcomes
On successful completion of this module students will
1.
Understand the nature and structure of the different business media and the legal and taxation implications of each type.
2.
Understand the terms used and basic accounting concepts and be familiar with how accounting data is used to prepare a profit and loss account and a balance sheet.
3.
Understand the construction of a simple balance sheet and profit and loss account of a sole trader, partnership and limited company.
4.
Understand the nature of shareholders’ funds.
5.
Be aware of good professional practice and conduct within these areas.
6.
Understand the accounts of a sole trader, partnership and company.
7.
Be familiar with the procedures required to incorporate a company and/or form a partnership and understand the approvals, filings and procedures to enable the business to commence operating.
8.
Be familiar with the roles, rights, responsibilities and liabilities of the participants in the various business media.
9.
Understand the procedures to alter the constitution of a company and to appoint and remove the officers of a company.
10.
Understand how to allot, issue and transfer shares.
11.
Understand the main features of the income tax system including total income; personal allowances; calculation of income tax liability.
12.
Understand the main principles of capital gains tax, including the charge on the disposal or deemed disposal of assets and the calculation of chargeable gains.
13.
Understand the main exemptions and reliefs from capital gains tax.
14.
Understand the corporation tax principles relating to the charge to tax and charges on income.
15.
Understand the basic principles of VAT including registration of taxable persons; taxable supplies; input and output tax; standard and zero rating; exemptions.
16.
Use the legal knowledge, skills, procedures and behaviours appropriate to each client and each transaction matter.
17.
Identify the client's goals and alternative means of achieving those goals, demonstrate the ability to critically evaluate the range of means of achieving those goals, and deal appropriately with client care.
18.
Investigate and identify the relevant facts, research, identify and critically evaluate the relevant legal issues, and advise the client on the legal consequences.
19.
Identify the overall nature of the transaction or matter, then plan and progress that transaction or matter through a series of steps and decisions including, where appropriate, drafting documentation.
20.
Recognise and act within the rules of professional conduct.
21.
Identify the client’s reasonable expectations as to quality and timeliness of service.
22.
Interpret and apply primary source materials, constitutional documents and other relevant agreements.
23.
Advise the client as to the advantages and disadvantages of different business media including sole traders, partnership and companies.
24.
Advise on form and legal structure and on the cost, procedures, formalities and taxation implications of setting up and running the business.
25.
Progress common business transactions and advise and take steps relating to the business’s on-going operations.
26.
Advise on steps to protect the assets of the business.
27.
Advise on issues arising from basic finance and lending.
28.
Draft and critically review documentation to give effect to business transactions including drafting notices, agendas and minutes of meetings and complete and file routine statutory forms and maintain and up-date statutory books.
29.
Draft documentation and interpret and use appropriate precedents for documents, including partnership agreements, memoranda and articles of association, shareholder agreements, board and members’ resolutions, and to notify and effect the transaction in clear and unambiguous language.
30.
Advise on taxation of profits (income and capital) generated by and distributed by the business.
31.
Demonstrate an appreciation of the continuing duties, obligations and liabilities of the business and of its partners, directors and shareholders.
32.
Advise on the options for and claims arising on insolvency, e.g. bankruptcy, winding up and administration
33.
Demonstrate a systematic understanding and critical awareness of current legal and related problems leading to a strategic approach to reaching a solution
34.
Critically analyse and interpret a simple balance sheet and profit and loss account of a sole trader, partnership and limited company.
Formative Assessment
Assessment 1: Other
Summative Assessment
Assessment 1: Exam
Assessment 2: Exam
Assessment Criteria
The assessment criteria are as set out in the Huddersfield University Business School Assessment Guidelines and the MLP/LPC Assessment Strategy. The guidelines and strategy provide criteria for the assessment of both coursework and examinations.