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

  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
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
  • 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

Courses including this module

Compulsory in courses:

Optional in courses: