To give an appreciation of the nature and significance of Accounting in the private sector of the economy by an examination of the contribution it can make to the internal administration and external financing of a firm.  This module also highlights the pivotal role of accounting as a service activity within a broad business context.

• Recognise and illustrate the nature of accounting information and the contribution it makes to management decision making
• Prepare and evaluate a set of financial statements for an organisation from a trial balance along with supporting data
• Apply appropriate management accounting concepts and techniques to a range of business related scenarios to aid decision-making both for short and long term decisions

22 - 50 minute lectures (additional drop-in sessions will also be available)

Some handouts will be provided in hard copy or via Learning Central, but students will be expected to take notes of lectures.

Students are also expected to undertake at least 50 hours private study including preparation of solutions to given exercises.

Skills:

The ability to prepare basic accounting reports for business organisations.  The ability to analyse and interpret accounting information.

Transferable Skills:

The ability to interpret accounting reports and assess their utility.  Knowledge and application of a range of management accounting techniques used as a basis for decision making by private and public sector organisations.

Formative assessment is carried out by means of regular tutorial exercises. Feedback to students on their work and their progress towards learning outcomes is provided during lectures. Individual feedback will be given to students as appropriate at the end of the lecture. 

The summative assessment is the written examination at the end of the module. This gives students the opportunity to demonstrate their overall achievement of learning outcomes. It also allows them to give evidence of the higher levels of knowledge and understanding required for above average marks.

The examination paper comprises four questions. Section A is compulsory and carries 50 marks. Students are expected to answer two out of three questions, each carrying 25 marks, in Section B.

• Financial Accounting
  • the statement of financial position (balance sheet)
  • the Income statement (profit and loss account)
  • the cash flow statement

• Management Accounting
  • cost classification
  • absorption (full) costing and marginal costing
  • break even analysis
  • long range planning
  • budgetary planning and control
  • the management of working capital
  • decision making

Please see Background Reading List for an indicative list.

Accounting & Finance for Non-Specialists, Atrill, P., & McLaney, E., Financial Times/Prentice Hall

Accounting for Non-Accounting Students, Dyson, J. R., Financial Times/Prentice Hall

Management and Cost Accounting, Drury, J. C., Chapman & Hall

Journals:

Accountancy

Accountancy Age

ACCA publications