Module ASB-1110:
Mgmt & Financial Accounting

Module Facts

Run by Bangor Business School

20 Credits or 10 ECTS Credits

Semester 1 & 2

Organiser: Dr Annika Beelitz

Overall aims and purpose


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


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 may include but will not be limited to 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 may include but will not be limited to marginal analysis; full costing; marginal and costing profit statements; and cash budgets.

Assessment Criteria


D- to D+

Students demonstrate a basic understanding of both financial accounting and management accounting, but make significant errors in their work.


B- to B+

Students demonstrate good understanding and are able to produce accounting statements to a reasonable standard, without significant error.


A- to A*

Students demonstrate clear understanding and are able to produce accurate and clear accounting statements.

C- to C+

C- to C+

Students demonstrate an understanding beyond the basic level and are able to produce accounting statements, but with a few errors.

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 45min

Mid-term class test to assess students' ability to produce financial statements for sole traders and partnerships.

CLASS TEST Class Test 2 45min

Mid-term class test for management accounting

EXAM Exam 1

Final exam assessing students' ability to produce financial statements for limited companies as well as knowledge on accounting concepts and conventions.

EXAM Exam 2

Final exam for Managment Accounting


Teaching and Learning Strategy


Management accounting: 2 1-hour drop-in sessions


Management Accounting: a 2-hour lecture each week

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

Financial Accounting: 4 1-hour drop-in sessions


Financial Accounting: a 2-hour lecture each week


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.


Talis Reading list

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: