School of Management, Unit Catalogue 2011/12 |
|
 Credits:
| 6 |
| Level:
| Certificate (FHEQ level 4) |
| Period: |
Semester 1 Semester 2 |
| Assessment:
| CW 25%, EX 75% |
| Supplementary Assessment: | Like-for-like reassessment (where allowed by programme regulations) |
| Requisites:
| |
| Description:
| Aims: The unit aims to test the students' ability to: * Explain the conceptual and regulatory framework of accounting. * Apply interpretative techniques to published financial statements. * Apply double entry techniques to record transactions and prepare financial statements. * Explain the basic concepts and processes used to determine product and service costs. * Explain absorption cost, marginal cost, ABC and relevant cost concepts. * Apply CVP analysis and interpret the results. * Explain the role of budgets and standard costing within organisations. * Prepare and interpret budgets, standard costs and variance statements. 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. Content: (a) 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, * Preparation of budgets and projected Profit and Loss Accounts and Balance Sheets * Controlling operations and cost control (b) Reporting results in financial terms * Basic distinctions between the accounts of sole traders, partnerships and companies * Preparation of final accounts from incomplete records * Preparation of 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. |
| Programme 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 a Designated Essential Unit on the following programmes:Department of Chemistry
MN10248 is Compulsory on the following programmes:Department of Computer Science
MN10248 is Optional on the following programmes:Department of Biology & Biochemistry
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