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Course & Unit Catalogues


MN12003: Fundamentals of accounting

[Page last updated: 09 August 2024]

Academic Year: 2024/25
Owning Department/School: School of Management
Credits: 15 [equivalent to 30 CATS credits]
Notional Study Hours: 300
Level: Certificate (FHEQ level 4)
Period:
Academic Year
Assessment Summary: CWOG 20%, EXCB 60%, EXIC 20%
Assessment Detail:
  • In-class test (EXIC 20%)
  • Group presentation (CWOG 20%)
  • Examination (EXCB 60%)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites:
Learning Outcomes: By the end of the unit, students will be able to:
  • Demonstrate a basic understanding of relations among corporate entities (particularly Public Interest Entities), their shareholders and other stakeholders, and how these are governed and regulated.
  • Undertake basic calculations and analysis to support financial and operational planning, decision-making and control.
  • Conduct a basic evaluation and interpretation of accounting and other sources of financial information to support financial and operational planning, decision-making and control.



Synopsis: Gain an understanding of fundamental concepts and techniques in management and financial accounting. On the financial accounting side, you'll learn: - double entry techniques for recording transactions - to prepare financial statements within the regulatory framework - to apply and develop interpretative techniques to published financial statements On the management accounting side, you'll learn: - how to use internal control accounts - costing techniques - budgeting - control and auditing

Content: Financial accounting:
  • Accounting process
  • Double-entry recording system
  • Accounting treatment of depreciation, bad debts, doubtful debts, accruals and prepayments
  • Preparation of trading account, income statement, statement of financial position, and statement of cash flow
  • Bank reconciliation
  • Financial statement analysis


Management accounting:
  • Fundamentals of cost accounting
  • Absorption and marginal costing
  • Contribution and breakeven analysis
  • Budgeting
  • Decision making


Course availability:

MN12003 is Compulsory on the following courses:

School of Management
  • UMMN-AFB10 : BSc(Hons) Accounting and Finance (Year 1)
  • UMMN-AKB10 : BSc(Hons) Accounting and Finance with work placement (Year 1)
  • UMMN-AFB11 : BSc(Hons) Accounting and Management (Year 1)
  • UMMN-AKB11 : BSc(Hons) Accounting and Management with work placement (Year 1)

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.