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: Dr Helen Rogers
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
-
Management Accounting: Understand the difference between Marginal and Absorption Costing and be able to prepare their Profit Statements
-
Financial accounting: Demonstrate familiarity with basic book-keeping skills.
-
Financial accounting: Be capable of preparing accounts for sole traders and companies.
-
Financial accounting: Demonstrate an understanding of accounting concepts, conventions and theory.
-
Management accounting: Understand the relationships between cost, volume and profit.
-
Management accounting: Be able to classify, estimate and allocate costs and overheads.
-
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 |
---|---|---|---|
EXAM | Semester 2 exam | 30.00 | |
CLASS TEST | Class Test 1 | • Mid-semester multiple-choice question online test - testing students understanding on the double entry process |
20.00 |
CLASS TEST | Class Test 2 | • Mid-semester multiple-choice question online test - 1 hour |
20.00 |
CASE STUDY | Semester 1 Case Study | Individual case study : Students will have a at least four weeks to prepare and submit a report by the end of the semester, based on a case study. The report consists of a mixture of computational and narrative work. Max number of words for the narrative aspects is 300 words. |
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 |
|
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.htmlReading 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:
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)
- NN3P: BSc Acc & Banking with Place Yr year 1 (BSC/ACCBP)
- 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)
- NL4P: BSc Accounting and Economics with Placement Year year 1 (BSC/ACCECP)
- 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)
- N2NF: BSc Business Man with Account (4 yr with Incorp Foundation) year 1 (BSC/BMA1)
- 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)
- 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)
- N39P: BSc Banking and Finance with Placement Year year 1 (BSC/BFINP)
- N312: BSc Banking with Financial Tech year 1 (BSC/BKFT)
- N200: BSc Business Management year (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)
- L112: BSc Financial Economics with International Experience year 1 (BSC/FEIE)
- 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)
- L11P: BSc Financial Economics with Placement Year year 1 (BSC/FINECP)
- 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)
- N50P: BSc Marketing with Placement Year year 1 (BSC/MKTP)
- 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)
- M10P: LLB Law with Placement Year year 1 (LLB/LP)