MODULE SPECIFICATION UNDERGRADUATE PROGRAMMES KEY FACTS Module name Introduction to Financial & Management Accounting Module code BS1002 School Cass Business School Department or equivalent UG Programme UK credits 30 ECTS 15.0 Level 4 Delivery location (partnership programmes only) MODULE SUMMARY Module outline and aims This module introduces you to the basic principles and practices of financial and management accounting, so that you can appreciate the contribution it makes to the effective operation of a business. The aim of the module is to provide an understanding of the principles, mechanics and subjective issues involved in the preparation of internal and external financial statements. It will enable you:- a) to appreciate the nature and role of accounting data; b) to appreciate the processes for the collection of accounting data; c) to appreciate those issues that involve professional accounting judgements; and d) to appreciate, evaluate, apply and discuss concepts in management accounting relating to costing, planning and budgeting, relevant costing, decision making, investment appraisal, standard costing, variance analysis and pricing. Content outline Financial Accounting topics covered in the Autumn term include:- -The context and purpose of financial accounting, the regulatory framework, the accounting concepts and conventions. -The accounting equation and the statement of financial position. -The extended accounting equation and the income statement. -Recording financial transactions; balancing accounts and the trial balance.
-Post trial balance adjustments for: Inventory and cost of goods sold; depreciation; accruals and prepayments; bad and doubtful debts. -Preparation of financial statements for a sole trader. -Capital structures of sole traders, partnerships and limited companies. -Financial statements of a limited company. -Statement of cash flow. -Analysing and interpreting financial statements. Management Accounting topics covered in the Spring term include:- -The scope of management accounting and its characteristics; cost classification and cost behaviour, analysing mixed costs. -Accounting for materials, labour and overheads; a critical appraisal of overhead accounting. -Accounting procedures for manufacturing costs; flow of production and costs in a process costing system. -The principles of variable and absorption costing; preparation of profit statements using these two methods. -Cost-volume-profit (CVP) analysis using both the mathematical and graphical approaches; the economists model. -The need for an alternative approach to full costing; a comparison of traditional and Activity Based Costing (ABC) systems. -The budgeting process; preparation of functional budgets, the master budget including a cash budget. -Cost control models; variance analysis using a standard marginal system for materials, labour, variable and fixed overheads; simple operating statements reconciling budgeted and actual costs. -Use of relevant costs including opportunity and sunk costs in short-term and long term decisions making.
WHAT WILL I BE EXPECTED TO ACHIEVE? On successful completion of this module, you will be expected to be able to: Knowledge and understanding: - Develop an understanding of the finance function and the role of the accountant - Develop an understanding of the nature and purpose of published accounts Skills: - Select, manipulate, analyse and evaluate data - Prepare and interpret basic financial statements - Critically comment and communicate effectively Values and attitudes: - Demonstrate an awareness of the sources, uses and limitations of financial and nonfinancial information HOW WILL I LEARN? Teaching pattern: Teaching component Teaching type Contact Selfdirected study Placement Lectures Lecture 40 160 0 200 Classes Tutorial 20 80 100 TOTALS: 60 240 0 300 Total student learning
WHAT TYPES OF ASSESSMENT AND FEEDBACK CAN I EXPECT? Assessments Assessment pattern: Assessment component Coursework Autumn Term Test Coursework Spring Term Test May Exam (3 ) Assessment type Weighting Minimum qualifying mark Set Exercise 10 40 N/A Set Exercise 10 40 N/A Written Exam 80 40 N/A Pass/Fail? Assessment criteria Assessment Criteria are descriptions of the skills, knowledge or attributes students need to demonstrate in order to complete an assessment successfully and Grade-Related Criteria are descriptions of the skills, knowledge or attributes students need to demonstrate to achieve a certain grade or mark in an assessment. Assessment Criteria and Grade-Related Criteria for module assessments will be made available to students prior to an assessment taking place. More information will be available from the module leader. Feedback on assessment Following an assessment, students will be given their marks and feedback in line with the Assessment Regulations and Policy. More information on the timing and type of feedback that will be provided for each assessment will be available from the module leader. Assessment Regulations The Pass mark for the module is 40%. Any minimum qualifying marks for specific assessments are listed in the table above. The weighting of the different components can also be found above. The Programme Specification contains information on what happens if you fail an assessment component or the module.
INDICATIVE READING LIST Atrill, P. & McLaney, E. Accounting: An Introduction, Prentice Hall. Atrill, P. & McLaney, E. Financial Accounting for Decision Makers, Prentice Hall. Berry, A. & Jarvis, R. Accounting in a Business Context, Thomson Learning. Dyson, J.R. Accounting for non-accounting students, Pitman. Gowthorpe, C. Financial Accounting for non-specialists, Thomson Learning. Ryan, B Finance and Accounting for Business, Thomson Learning. Sutton, T. Corporate Financial Reporting, Prentice Hall. Seal, W, Garrison, Ray H, Noreen, Eric W: Management Accounting, McGraw Hill. Drury, C. Management and Cost Accounting: An introduction, Cengage. Atrill, P and McLaney, E Management Accounting for Non-specialists, Prentice Hall Europe. Lucey, T. Management Accounting, DP Publications. Weetman, P. Financial & Management Accounting, Prentice Hall. Version: 1.0 Version date: July 2012 For use from: 2012-13 Appendix: see http://www.hesa.ac.uk/content/view/1805/296/ for the full list of JACS codes and descriptions CODES HESA Code Description Price Group 27 Business and Management D Studies JACS Code Description Percentage (%) N400 The study of the rules, standards and methods of financial accounting within organisations. 100