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MN12002: Introduction to accounting

[Page last updated: 09 August 2024]

Academic Year: 2024/25
Owning Department/School: School of Management
Credits: 5 [equivalent to 10 CATS credits]
Notional Study Hours: 100
Level: Certificate (FHEQ level 4)
Period:
Semester 1
Semester 2
Assessment Summary: EXCB 100%
Assessment Detail:
  • Closed-book written examination (EXCB 100%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
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.
  • Basic book-keeping tasks.
  • Prepare financial statements (income and financial position statements) for limited liability companies.
  • Analyse and interpret financial outcomes of corporations.
  • Calculate and interpret management accounting data in order to make decisions.



Synopsis: You will study fundamental accounting concepts and techniques, exploring the conceptual and regulatory framework of accounting. You will be introduced to both management and financial accounting and cover a range of topics such as costing and financial statements preparation and analysis.

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


Course availability:

MN12002 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.

MN12002 is Compulsory on the following courses:

Department of Chemistry
  • USCH-AFB22 : BSc(Hons) Chemistry with Management (Year 1)
  • USCH-AKB22 : BSc(Hons) Chemistry with Management with professional placement (Year 1)
  • USCH-AKB22 : BSc(Hons) Chemistry with Management with study abroad (Year 1)
  • USCH-AFM22 : MSci(Hons) Chemistry with Management (Year 1)
  • USCH-AKM22 : MSci(Hons) Chemistry with Management with professional placement (Year 1)

MN12002 is Optional on the following courses:

Department of Chemistry
  • USCH-AFB20 : BSc(Hons) Chemistry (Year 1)
  • USCH-AKB20 : BSc(Hons) Chemistry with professional placement (Year 1)
  • USCH-AKB20 : BSc(Hons) Chemistry with study abroad (Year 1)
  • USSC-AFB10 : BSc(Hons) Natural Sciences (Biochemistry and Chemistry) (Year 1)
  • USSC-AKB10 : BSc(Hons) Natural Sciences (Biochemistry and Chemistry) with Study year abroad (Year 1)
  • USSC-AKB10 : BSc(Hons) Natural Sciences (Biochemistry and Chemistry) with professional placement (Year 1)
  • USSC-AFB10 : BSc(Hons) Natural Sciences (Biology and Chemistry) (Year 1)
  • USSC-AKB10 : BSc(Hons) Natural Sciences (Biology and Chemistry) with Study year abroad (Year 1)
  • USSC-AKB10 : BSc(Hons) Natural Sciences (Biology and Chemistry) with professional placement (Year 1)
  • USSC-AFB10 : BSc(Hons) Natural Sciences (Chemistry and Pharmacology) (Year 1)
  • USSC-AKB10 : BSc(Hons) Natural Sciences (Chemistry and Pharmacology) with Study year abroad (Year 1)
  • USSC-AKB10 : BSc(Hons) Natural Sciences (Chemistry and Pharmacology) with professional placement (Year 1)
  • USCH-AFM20 : MChem(Hons) Chemistry (Year 1)
  • USCH-AKM20 : MChem(Hons) Chemistry with professional placement (Year 1)
  • USCH-AKM20 : MChem(Hons) Chemistry with study abroad (Year 1)
  • USSC-AFM10 : MSci(Hons) Natural Sciences (Biochemistry and Chemistry) (Year 1)
  • USSC-AKM10 : MSci(Hons) Natural Sciences (Biochemistry and Chemistry) with professional placement (Year 1)
  • USSC-AKM10 : MSci(Hons) Natural Sciences (Biochemistry with Chemistry stream) with Study year abroad (Year 1)
  • USSC-AFM10 : MSci(Hons) Natural Sciences (Biology and Chemistry) (Year 1)
  • USSC-AKM10 : MSci(Hons) Natural Sciences (Biology and Chemistry) with Study year abroad (Year 1)
  • USSC-AKM10 : MSci(Hons) Natural Sciences (Biology and Chemistry) with professional placement (Year 1)
  • USSC-AFM10 : MSci(Hons) Natural Sciences (Chemistry and Pharmacology) (Year 1)
  • USSC-AKM10 : MSci(Hons) Natural Sciences (Chemistry and Pharmacology) with Study year abroad (Year 1)
  • USSC-AKM10 : MSci(Hons) Natural Sciences (Chemistry and Pharmacology) with professional placement (Year 1)
Department of Economics
  • UHES-AFB10 : BSc(Hons) Economics (Year 2)
  • UHES-AKB10 : BSc(Hons) Economics with professional placement (Year 2)
  • UHES-AKB10 : BSc(Hons) Economics with professional placement and study abroad (Year 2)
  • UHES-AKB10 : BSc(Hons) Economics with study abroad (Year 2)
Department of Mathematical Sciences
  • USMA-AFB30 : BSc(Hons) Mathematics (Year 2)
  • USMA-AFB32 : BSc(Hons) Mathematics and Statistics (Year 2)
  • USMA-AKB32 : BSc(Hons) Mathematics and Statistics with professional placement (Year 2)
  • USMA-AKB32 : BSc(Hons) Mathematics and Statistics with study abroad (Year 2)
  • USMA-AFB33 : BSc(Hons) Mathematics, Statistics and Data Science (Year 2)
  • USMA-AKB33 : BSc(Hons) Mathematics, Statistics and Data Science with professional placement (Year 2)
  • USMA-AKB33 : BSc(Hons) Mathematics, Statistics and Data Science with study abroad (Year 2)
  • USMA-AKB30 : BSc(Hons) Mathematics with professional placement (Year 2)
  • USMA-AKB30 : BSc(Hons) Mathematics with study abroad (Year 2)
  • USMA-AFM30 : MMath(Hons) Mathematics (Year 2)
  • USMA-AKM30 : MMath(Hons) Mathematics with professional placement (Year 2)
  • USMA-AKM31 : MMath(Hons) Mathematics with study abroad (Year 2)

Notes:

  • This unit catalogue is applicable for the 2024/25 academic year only. Students continuing their studies into 2025/26 and beyond should not assume that this unit will be available in future years in the format displayed here for 2024/25.
  • Courses and units are subject to change 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.
  • Find out more about these and other important University terms and conditions here.