Module ECOS2171: FINANCIAL & MANAGEMENT ACCOUNTING

Department: ECONOMICS FINANCE AND BUSINESS (BUSINESS FINANCE) [Queen's Campus, Stockton]

ECOS2171: FINANCIAL & MANAGEMENT ACCOUNTING

Prerequisites

• Business Accounting and Finance (ECON1041) (Durham) or Introduction to Accounting (ECOS1081) (Queen's Campus, Stockton).

Corequisites

• None.

Excluded Combination of Modules

• None.

Aims

• The module aims to build upon foundations laid at level 1 and to
• Develop students' appreciation of the key principles of financial accounting and the associated frameworks
• Develop students' ability to interpret financial statements and to understand the composition of group accounts
• Develop students' understanding of the centrality of accounting information to the effective management of an organisation
• To provide a grounding for a dissertation in the accounting field
• To promote development of a set of key skills

Content

• Financial Accounting:
• The interpretation and shortcomings of published financial statements
• The role of judgement
• The statutory, regulatory and conceptual frameworks
• The international agenda
• Measurement of profit, valuation bases and recognition issues
• Accounting for business combinations
• Management Accounting :
• The nature of costs
• The impact of scarce resources and of risk and uncertainty on reporting within the organisation
• The effect of organisational structure and modern manufacturing systems on the information requirements of decision-makers
• Performance appraisal
• Recent developments in management accounting practice

Learning Outcomes

• By the end of the module students should
• Be able to demonstrate knowledge and understanding of essential principles of financial and management accounting
• Demonstrate an appreciation of the uses and limitations of accounting information in the context of the information needs of users
• Have an understanding of the methods available to account for business combinations

• By the end of the module students should
• Be able to interpret and comment upon published financial statements
• Be able to use principles of financial and management accounting to analyse financial issues

• 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 (inlcuding student-centred learning). Formative assessment is by means of a contribution to a Group Presentation. Summative assessment is by means of an unseen written examination of one hour and forty minutes duration, plus essay/project of 2500 words.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Contribution to a Group Presentation

■ 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