Module ACCT2011: Financial and Management Accounting

Department: Accounting

ACCT2011: Financial and Management Accounting

Tied To

• N201: Business and Management
• N203: Business and Management with Placement Year
• N207: Business and Management with Study Abroad
• N509: Marketing and Management
• N510: Marketing and Management with Placement Year
• N511: Marketing and Management with Study Abroad

Pre-requisites

Corequisites

Excluded Combinations

Aims

• To build upon foundations of the use of financial information laid at Level 1
• To develop skills in construction of basic financial statements
• To develop skills in interpretation of published annual reports
• To develop skills in, and knowledge of, aspects of intermediate management accounting

Content

• Preparation of basic primary financial statements for a single company
• The dual effect, the accruals basis, and other accounting conventions
• Accounting for assets
• Accounting for liabilities and provisions
• Interpretation of published financial reports
• The International Financial Reporting Standards framework
• Directors' and auditors' responsibilities
• Creative accounting and the role of judgement
• Accounting for overheads
• Application of contribution analysis in short-term decision making
• Strategic Management Accounting

Learning Outcomes

• On completion of the module students will be able to:
• Understand the underpinning concepts which govern the preparation of financial accounts
• Discuss the regulatory framework and creative accounting
• Appreciate the issues in accounting for overheads
• Understand the relevance of accounting information in short-term decision-making
• Appreciate the role of management accounting information in the operational and strategic management of an organisation

• On completion of the module students will be able to:
• Apply accounting principles in preparing basic primary financial statements for a single company
• Analyse a published financial report
• Calculate full unit costings
• Apply contribution analysis to support decision-making in a range of scenarios

• Problem solving
• Team working
• Presentation skills
• Written communication
• Computer literacy
• Self-management
• Team working

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

• Learning will take place through preparation for and attendance at lectures and seminars, as well as through independent study. Seminars will require students to prepare by reading around a particular topic and preparing answers to set questions and case studies with a discussion of these in class.
• Formative assessment is by means of a group presentation and report, allowing students to develop their teamwork skills, presentation skills and knowledge of the subject.
• Summative assessment is by means of a written examination and summative assignment to test students' knowledge and understanding of the subject matter.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

One group presentation and report