Module ECON1041: BUSINESS ACCOUNTING AND FINANCE

Department: ECONOMICS FINANCE AND BUSINESS (ECONOMICS AND FINANCE)

ECON1041: BUSINESS ACCOUNTING AND FINANCE

Prerequisites

• None.

Corequisites

• None.

Excluded Combination of Modules

• None.

Aims

• The module aims to
• Develop an understanding of the purpose and production of a wide range of financial reports, through study of the fundamentals of financial accounting and management accounting
• Provide an introduction to financial management and sources of finance, thereby laying foundations for further study in the area.
• Promote development of a set of key skills

Content

• The nature and role of accounting information, including its limitations
• The spectrum of users' information needs
• Presentation and interpretation of financial accounts
• Generation and interpretation of information for internal use within the organisation, for the purposes of cost control, budgeting and decision-making.
• The structure of the firm and the role of the financial manager
• Sources of funds, management of working capital and introductory investment appraisal.

Learning Outcomes

• By the end of the module students should
• Be able to demonstrate an appreciation of the role of accounting information, including its limitations
• Have an understanding of fundamental accounting principles
• Have an appreciation of the uses and value of accounting and financial information to the managers of an organisation.
• Have an appreciation of financial management and of the range of sources of finance available

• By the end of the module students should
• Be able to apply fundamental accounting principles and interpret simple financial statements
• Be able to prepare and interpret a range of reports of use to financial managers of an organisation

• Written communication; through summative assessment
• Numeracy; through numerical components of the summative assessment and examination
• Computer literacy and information retrieval; by word processing the summative assessment and undertaking relevant research and investigation
• Problem solving and analysis; by applying relevant theories and techniques to problems in the summative assessment and examination
• Planning, organisation and time management; through completion and timely submission of summative assessment

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Teaching is by lectures, tutorials and support for student-centred learning. Learning takes place through attendance at lectures, preparation for and participation in tutorial classes and private study (including student-centred learning). Formative assessment is by means of 1 multiple-choice test and groupwork in seminars. Summative assessment is by means of an unseen written examination of 2.25 hours to test students’ knowledge and understanding of the subject-matter.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

1 Multiple choice test, groupwork in seminars

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University