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MN10476: Accounting for managers

Follow this link for further information on academic years Academic Year: 2012/3
Follow this link for further information on owning departmentsOwning Department/School: School of Management
Follow this link for further information on credits Credits: 6
Follow this link for further information on unit levels Level: Certificate (FHEQ level 4)
Follow this link for further information on period slots Period: Semester 1
Follow this link for further information on unit assessment Assessment: CW 25%, EX 75%
Follow this link for further information on supplementary assessment Supplementary Assessment: Like-for-like reassessment (where allowed by programme regulations)
Follow this link for further information on unit rules Requisites: In taking this unit you cannot take MN10008 or take MN10248 or take MN10331
Follow this link for further information on unit content 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 and apply the concepts of inventory valuation (IAS2) and revenue recognition (IAS18)
* 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.

Financial data manipulation and interpretation
Analytical and communication skills in relation to financial information
Accreditation for some professional exams.

(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.
Follow this link for further information on programme availabilityProgramme availability:

MN10476 is Compulsory on the following programmes:

School of Management
  • UMMN-ANB01 : BSc (hons) Business Administration (Full-time with Thin Sandwich Placements) - Year 1

* This unit catalogue is applicable for the 2012/13 academic year only. Students continuing their studies into 2013/14 and beyond should not assume that this unit will be available in future years in the format displayed here for 2012/13.
* 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.