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MN10248: Introduction to accounting

Follow this link for further information on academic years Academic Year: 2014/5
Further information on owning departmentsOwning Department/School: School of Management
Further information on credits Credits: 6
Further information on unit levels Level: Certificate (FHEQ level 4)
Further information on teaching periods Period: Semester 1
Semester 2
Further information on unit assessment Assessment Summary: CW 25%, EX 75%
Further information on unit assessment Assessment Detail:
  • Coursework (CW 25% - Qualifying Mark: 35)
  • Examination (EX 75% - Qualifying Mark: 35)
Further information on supplementary assessment Supplementary Assessment: Like-for-like reassessment (where allowed by programme regulations)
Further information on requisites Requisites: In taking this unit you cannot take MN10008 or take MN10331 or take MN10476
Further information on descriptions Description: Aims:
The unit aims to enable students to:
* Explain the conceptual and regulatory framework of accounting;
* Apply double entry techniques to record transactions and prepare financial statements;
* Apply interpretative techniques to published financial statements;
* Estimate costs for planned activities;
* Manage costs to make short-run decisions;
* Identify relevant costs and make decisions with and without resource constraints.

Learning Outcomes:
On successful completion of this unit students will be able to:
* Understand how accounting serves the purpose of developing and operating a business;
* Prepare financial statements for limited liability companies;
* Interpret financial and management accounting data in order to make decisions.

Skills:

* Financial data manipulation and interpretation;
* Analytical and communication skills in relation to financial information.

Content:

* The framework of accounting - entities and financial reporting statements, international accounting standards, the nature and objectives of accounting, the conceptual framework of accounting, overviews of auditing, corporate governance and ethics.
* Double-entry book-keeping - the accounting equation, the books of account, double entry, journals and the trial balance.
* The preparation of limited liability company financial statements from a trial balance including adjustments for share capital, revaluations, depreciation, inventory provisions, accruals, prepayments, doubtful debts and so on.
* The interpretation of financial statements - analysing performance, liquidity, solvency and investment returns.
* Management accounting concepts - the nature and management of costs, marginal costs and decision-making, business planning and efficiency improvements
* Estimating costs for planned activities : fixed and variable costs; direct and indirect costs; basic elements of product cost.
* Managing costs - cost/volume/profit analysis, cost allocation, apportionment and absorption.
* Decision making with and without constraints - relevant costs, limiting factors, make versus buy decisions and so on.
Further information on programme availabilityProgramme availability:

MN10248 is a Generally Available Unit which is available to all students of the University (subject to the usual constraints) to take either as a Director of Studies approved option within their programme of study or as an 'extra' unit which does not count towards a final award.


MN10248 is Compulsory on the following programmes:

Department of Computer Science
  • USCM-AFB11 : BSc(Hons) Computer Information Systems (Year 1)
  • USCM-AAB12 : BSc(Hons) Computer Information Systems with Study year abroad (Year 1)
  • USCM-AKB12 : BSc(Hons) Computer Information Systems with Year long work placement (Year 1)
  • USCM-AFB09 : BSc(Hons) Computer Science with Business (Year 1)
  • USCM-AAB10 : BSc(Hons) Computer Science with Business with Study year abroad (Year 1)
  • USCM-AKB10 : BSc(Hons) Computer Science with Business with Year long work placement (Year 1)

MN10248 is a Designated Essential Unit on the following programmes:

Department of Chemistry
  • USCH-AFB03 : BSc(Hons) Chemistry with Management (Year 1)
  • USCH-AAB04 : BSc(Hons) Chemistry with Management with Study year abroad (Year 1)
  • USCH-AFM07 : MSci(Hons) Chemistry with Management (Year 1)
  • USCH-AKB04 : BSc(Hons) Chemistry with Management with Industrial Placement (Year 1)
  • USCH-AKM07 : MSci(Hons) Chemistry with Management with Industrial Placement (Year 1)

MN10248 is Optional on the following programmes:

Department of Chemistry Department of Economics Programmes in Natural Sciences
  • UXXX-AFB01 : BSc(Hons) Natural Sciences (Year 1)
  • UXXX-AAB02 : BSc(Hons) Natural Sciences with Study year abroad (Year 1)
  • UXXX-AKB02 : BSc(Hons) Natural Sciences with Year long work placement (Year 1)
Department for Health
  • UHHL-AFB01 : BSc(Hons) Sport and Exercise Science (Year 1)
  • UHHL-ACB04 : BSc(Hons) Sport and Exercise Science with Combined Professional Placement and Study Abroad (Year 1)
  • UHHL-AKB04 : BSc(Hons) Sport and Exercise Science with Professional Placement (Year 1)
  • UHHL-AAB02 : BSc(Hons) Sport and Exercise Science with Study year abroad (Year 1)
  • UHHL-AFM01 : MSci(Hons) Sport and Exercise Science (Year 1)
  • UHHL-ACM01 : MSci(Hons) Sport and Exercise Science with Combined Professional Placement and Study Abroad (Year 1)
  • UHHL-AKM01 : MSci(Hons) Sport and Exercise Science with Professional Placement (Year 1)
  • UHHL-AAM01 : MSci(Hons) Sport and Exercise Science with Study year abroad (Year 1)
Department of Mathematical Sciences
  • USMA-AFB15 : BSc(Hons) Mathematical Sciences (Year 2)
  • USMA-AAB16 : BSc(Hons) Mathematical Sciences with Study year abroad (Year 2)
  • USMA-AKB16 : BSc(Hons) Mathematical Sciences with Year long work placement (Year 2)
  • USMA-AFM14 : MMath(Hons) Mathematics (Year 2)
  • USMA-AAM15 : MMath(Hons) Mathematics with Study year abroad (Year 2)
  • USMA-AKM15 : MMath(Hons) Mathematics with Year long work placement (Year 2)
  • USMA-AFB05 : BSc(Hons) Statistics (Year 2)
  • USMA-AAB06 : BSc(Hons) Statistics with Study year abroad (Year 2)
  • USMA-AKB06 : BSc(Hons) Statistics with Year long work placement (Year 2)
Department of Politics, Languages and International Studies
  • UHPL-AYB13 : BA(Hons) French and Politics with Year Abroad (Year 1)
  • UHPL-AYB12 : BA(Hons) German and Politics with Year Abroad (Year 1)
  • UHPL-AYB16 : BA(Hons) Italian ab inito and Politics with Year Abroad (Year 1)
  • UHPL-AYB14 : BA(Hons) Italian and Politics with Year Abroad (Year 1)
  • UHPL-AFB30 : BSc(Hons) Politics and International Relations (Year 1)
  • UHPL-AAB30 : BSc(Hons) Politics and International Relations with Study year abroad (Year 1)
  • UHPL-AKB30 : BSc(Hons) Politics and International Relations with Year long work placement (Year 1)
  • UHPL-AFB10 : BSc(Hons) Politics with Economics (Year 1)
  • UHPL-AAB10 : BSc(Hons) Politics with Economics with Study year abroad (Year 1)
  • UHPL-AKB10 : BSc(Hons) Politics with Economics with Year long work placement (Year 1)
  • UHPL-AYB15 : BA(Hons) Russian ab inito and Politics with Year Abroad (Year 1)
  • UHPL-AYB17 : BA(Hons) Spanish and Politics with Year Abroad (Year 1)

Notes:
* This unit catalogue is applicable for the 2014/15 academic year only. Students continuing their studies into 2015/16 and beyond should not assume that this unit will be available in future years in the format displayed here for 2014/15.
* Programmes and units are subject to change at any time, in accordance with normal University procedures.
* Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.