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MN10566: Accounting for managers

Follow this link for further information on academic years Academic Year: 2018/9
Further information on owning departmentsOwning Department/School: School of Management
Further information on credits Credits: 6      [equivalent to 12 CATS credits]
Further information on notional study hours Notional Study Hours: 120
Further information on unit levels Level: Certificate (FHEQ level 4)
Further information on teaching periods Period:
Semester 1
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 module you cannot take MN10008 OR take MN10248 OR take MN10331 OR take MN10476 OR take MN10668
Further information on descriptions Description: Aims:
The unit introduces students to the issues involved in a firm's financial planning and control. Students will develop a knowledge of accounting, the interpretation of financial data for decision-making, the preparation of financial statements from raw data, costing and some operational decisions.
This unit provides a basis for (and is a pre-requisite for) the 2nd year Accounting for Managers in an International Context unit.

Learning Outcomes:

* Students will understand how accounting and financial management serves the purpose of developing and operating a business.
* They will acquire a broad knowledge of the different dimensions of financial management and accounting which they may study in depth in later years of the course and an introductory working knowledge of basic tools of financial analysis and practice.

Skills:

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

Content:
(a) Reporting results in financial terms
* Basic distinctions between the accounts of sole traders, partnerships and companies
* Preparation of trial balance from source data
* Preparation of final accounts from trial balance
* Reporting performance and financial results to higher levels in the organisation: cost centre reports, profit centre reports, investment centre reports
* Reporting the results to shareholders and other outside parties: preparation of final accounts, structure and interpretation of final accounts, underlying concepts (going concern, prudence, materiality, etc.)
* Measures of performance in the financial press: share prices, earnings per share, p/e ratios, assessing the quality of earnings announcements, etc.
* Outline of the role of company law, the accounting profession and Accounting Standards in controlling the content of published information
* Outline of complications created by going international / global for investment analysis, financing the business, financial control and financial reporting

(b) Financial planning and control
* The financial dimension of businesses and other organisations
* Estimating costs for planned activities : fixed and variable costs; direct and indirect costs; basic elements of product cost
* Preparation of cash budgets
* Annual budgeting, profit planning, liquidity control and longer term financial projections,
* Controlling operations and cost control.
Further information on programme availabilityProgramme availability:

MN10566 is Compulsory on the following programmes:

School of Management
  • UMMN-AYB06 : BSc(Hons) International Management with Year Abroad (Year 1)
  • UMMN-AFB04 : BSc(Hons) Management (Year 1)
  • UMMN-AKB04 : BSc(Hons) Management with Year long work placement (Year 1)
  • UMMN-AKB05 : BSc(Hons) Management with Marketing with Year long work placement (Year 1)

Notes: