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Module ASB-1110:
Management and Financial Accounting

Module Facts

Run by Bangor Business School

20.000 Credits or 10.000 ECTS Credits

Semester 1 & 2

Organiser: Prof Doris Merkl-Davies

Overall aims and purpose

NOTE:

This module is avialable through the medium of Welsh (ACB-1110).

This module is a double module, providing an introduction to Financial Accounting in Semester 1 and Management Accounting in Semester 2.

AIMS:

Financial accounting:

To provide an introduction to basic book-keeping skills, and to develop a broad understanding of accounting theory, concepts and conventions.

Management accounting:

To provide an introduction to the role of management accounting in decision-making and managing an organisation.

Course content

The financial accounting section of this module introduces book-keeping skills and techniques and also includes accounting concepts and conventions which guide corporate accounting practice. The content encompasses measuring and reporting the financial position of an organisation; measuring and reporting the financial performance of an organisation; and book-keeping and the preparation of company and sole-trader accounts.

The management accounting section of this module encompasses marginal analysis; full costing; marginal and costing profit statements; and cash budgets.

Assessment Criteria

threshold

D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

excellent

A- to A+ (70%+): Outstanding performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

C- to C+

C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

good

B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

Learning outcomes

  1. Management Accounting: Understand the difference between Marginal and Absorption Costing and be able to prepare their Profit Statements

  2. Financial accounting: Demonstrate familiarity with basic book-keeping skills.

  3. Financial accounting: Be capable of preparing accounts for sole traders and companies.

  4. Financial accounting: Demonstrate an understanding of accounting concepts, conventions and theory.

  5. Management accounting: Understand the relationships between cost, volume and profit.

  6. Management accounting: Be able to classify, estimate and allocate costs and overheads.

  7. Management accounting: Be able to prepare a cash budget and be able to understand how they are used for planning and control.

Assessment Methods

Type Name Description Weight
CLASS TEST Class Test 1 20.00
CLASS TEST Class Test 2 20.00
EXAM Exam 1 30.00
EXAM Exam 2 30.00

Teaching and Learning Strategy

Hours
Tutorial

Management accounting: 2 1-hour drop-in sessions

2
Lecture

Management Accounting: a 2-hour lecture each week

20
Lecture

Financial Accounting: a 2-hour lecture each week

20
Tutorial

Financial Accounting: 4 1-hour drop-in sessions

4
Private study
  • Reading
  • Preparation for lectures
  • Solving exercises for drop-in sessions
154

Transferable skills

  • Numeracy - Proficiency in using numbers at appropriate levels of accuracy
  • Computer Literacy - Proficiency in using a varied range of computer software
  • Information retrieval - Able to access different and multiple sources of information
  • Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
  • Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
  • Management - Able to utilise, coordinate and control resources (human, physical and/or financial)

Subject specific skills

  • knowledge of some of the contexts in which accounting can be seen as operating (examples of contexts include the legal, ethical, social and natural environment; the accountancy profession; the business entity; the capital markets; the public sector)
  • knowledge of the main current technical language and practices of accounting (for example, recognition, measurement and disclosure in financial statements; managerial accounting; auditing; taxation) in a specified socio-economic domain
  • knowledge of some of the alternative technical languages and practices of accounting (for example, alternative recognition rules and valuation bases, accounting rules followed in other socio-economic domains, alternative managerial accounting approaches to control and decision-making)
  • skills in recording and summarising transactions and other economic events; preparation of financial statements; analysis of the operations of business (for example, decision analysis, performance measurement and management control); financial analysis and projections (for example, analysis of financial ratios, discounted cash flow analysis, budgeting, financial risks)
  • knowledge of contemporary theories and empirical evidence concerning accounting in at least one of its contexts (for example, accounting and capital markets; accounting and the firm; accounting and the public sector; accounting and society; accounting and sustainability) and the ability to critically evaluate such theories and evidence age
  • knowledge of theories and empirical evidence concerning financial management, risk and the operation of capital markets (in cases of degrees with significant finance content).
  • An ability to understand financial statements, and a basic appreciation of the limitations of financial reporting practices and procedures (eg financial statement analysis; the relation between cash flow accounting and accrual accounting; discretionary accounting practices).
  • Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
  • Articulating and effectively explaining information.
  • Communication and listening including the ability to produce clear, structured business communications in a variety of media.

Resources

Talis Reading list

http://readinglists.bangor.ac.uk/modules/asb-1110.html

Reading list

McLaney, E. and Atrill, P. (2018). Accounting and Finance: An Introduction, 9th ed. Pearson, ISBN: 978-1-292-20448-2. Older editions of the textbook are also OK for this course.

Pre- and Co-requisite Modules

Pre-requisite of:

  • ASB-2507: Management Accounting
  • ASB-2515: Financial Accounting 1
  • ASB-2516: Financial Accounting 2

Courses including this module

Compulsory in courses:

  • NR43: BA Accounting/Italian year 1 (BA/AIT)
  • NR44: BA Accounting/Spanish year 1 (BA/ASP)
  • NR41: BA French/Accounting year 1 (BA/FRA)
  • NR42: BA German/Accounting year 1 (BA/GA)
  • NN44: BSc Accounting and Banking with International Experience year 1 (BSC/ABIE)
  • NN43: BSc Accounting and Banking year 1 (BSC/ACCB)
  • NN46: BSc Accounting and Banking (4 year with Incorp Found) year 1 (BSC/ACCB1)
  • NN3F: BSc Accounting and Banking year 1 (BSC/ACCBF)
  • NL41: BSc Accounting and Economics year 1 (BSC/ACCEC)
  • NL4B: BSc Accounting and Economics (4 year with Incorp Foundation) year 1 (BSC/ACCEC1)
  • NL4F: BSc Accounting and Economics year 1 (BSC/ACCECF)
  • NN4J: BSc Accounting and Finance (4 year with Incorp Found) year 1 (BSC/ACCF1)
  • NN4H: BSc Accounting and Finance year 1 (BSC/ACCFIN)
  • NN4F: BSc Accounting and Finance year 1 (BSC/ACCFINF)
  • N402: BSc Accounting & Finance (with International Experience) year 1 (BSC/ACCFINIE)
  • NN4P: BSc Accounting and Finance with Placement Year year 1 (BSC/ACCFINP)
  • NL42: BSc Accounting and Economics with International Experience year 1 (BSC/AEIE)
  • N2ND: BSc Business Management with Accounting year 1 (BSC/BMA)
  • N3NF: BSc Business Management with Accounting year 1 (BSC/BMAF)
  • N2NP: BSc Business Management with Accounting with Placement Year year 1 (BSC/BMAP)
  • N2N5: BSc Business Management and Marketing year 1 (BSC/BMM)
  • N2NC: BSc Business Man & Marketing (4 yr with Incorp Foundation) year 1 (BSC/BMM1)
  • N5NF: BSc Business Management and Marketing year 1 (BSC/BMMF)
  • N5NP: BSc Business Management and Marketing with Placement Year year 1 (BSC/BMMP)
  • N101: BSc Business Studies year 1 (BSC/BS)
  • N10B: BSc Business Studies (4 year with Incorporated Foundation) year 1 (BSC/BS1)
  • NNM1: BSc Business Studies & Marketing with Intl Experience year 1 (BSC/BSMIE)
  • NN1M: BSc Business Studies and Marketing year 1 (BSC/BSMKT)
  • NN1K: BSc Business Studies & Marketing (4 year with Incorp Found) year 1 (BSC/BSMKT1)
  • IN00: BSc Computer Information Systems for Business year 1 (BSC/CISB)
  • IN0B: BSc Computer Information Sys for Bus (4 year w Incorp Found) year 1 (BSC/CISB1)
  • IN02: BSc Computer Information Systems for Business (Franchised) year 1 (BSC/CISBF)
  • GN41: BSC Computer Science for Business year 1 (BSC/CSFB)
  • N2NK: BSc Management with Accounting year 1 (BSC/MWACC)
  • N2NL: BSc Management with Accounting (4 year with Incorp Found) year 1 (BSC/MWACC1)
  • M1N4: LLB Law with Acc and Finance year 1 (LLB/LAF)
  • M1NB: LLB Law with Accounting & Finance (4yr with Incorp Found) year 1 (LLB/LAF1)
  • M103: LLB Law with Accounting & Finance (Intl Exp) year 1 (LLB/LIA)

Optional in courses:

  • N1R1: BA Bus Stud with French year 1 (BA/BSFR)
  • N1R2: BA Business Studies with German year 1 (BA/BSGER)
  • N1R3: BA Business Studies with Italian year 1 (BA/BSIT)
  • N1R4: BA Business Studies with Spanish year 1 (BA/BSSP)
  • N107: BA Business year 1 (BA/BUS)
  • N109: BSc Bus Analytics w Financial Tech year 1 (BSC/BAFT)
  • L190: BSc Business Economics year 1 (BSC/BEC)
  • L19B: BSc Business Economics (4 year with Incorporated Foundation) year 1 (BSC/BEC1)
  • L19F: BSc Business and Economics year 1 (BSC/BECF)
  • L191: BSc Business Economics with International Experience year 1 (BSC/BECIE)
  • L19P: BSc Business Economics with Placement Year year 1 (BSC/BECP)
  • 8V55: BSc Banking and Finance (with International Experience) year 1 (BSC/BFIE)
  • N391: BSc Banking and Finance year 1 (BSC/BFIN)
  • N39B: BSc Banking and Finance (4 year w Incorporated Foundation) year 1 (BSC/BFIN1)
  • N39F: Banking and Finance year 1 (BSC/BFINF)
  • N312: BSc Banking with Financial Tech year 1 (BSC/BKFT)
  • N200: BSc Business Management year 1 (BSC/BM)
  • N20B: BSc Business Management (4 year with Incorp Foundation) year 1 (BSC/BM1)
  • N20F: BSc Business Management year 1 (BSC/BMFF)
  • NBR1: BSc Business Management with French year 1 (BSC/BMFR)
  • NBR2: BSc Business Management with German year 1 (BSC/BMG)
  • NBR3: BSc Business Management with Italian year 1 (BSC/BMI)
  • N20P: BSc Business Management with Placement Year year 1 (BSC/BMPP)
  • NBR4: BSc Business Management with Spanish year 1 (BSC/BMS)
  • L111: BSc Financial Economics year 1 (BSC/FINEC)
  • L11B: BSc Financial Economics (4 year w Incorporated Foundation) year 1 (BSC/FINEC1)
  • L11F: BSc Financial Economics year 1 (BSC/FINECF)
  • N501: BSc Marketing year 1 (BSC/MKT)
  • N50B: BSc Marketing (4 year with Incorporated Foundation) year 1 (BSC/MKT1)
  • N50F: BSc Marketing year 1 (BSC/MKTF)
  • M100: LLB Law year 1 (LLB/L)
  • M11B: LLB Law (4 year with Incorporated Foundation) year 1 (LLB/L1)
  • M102: LLB Law (International Experience) year 1 (LLB/LI)

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