Mgmt & Financial Accounting
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).
To provide an introduction to basic book-keeping skills, and to develop a broad understanding of accounting theory, concepts and conventions.
To provide an introduction to the role of management accounting in decision-making and managing an organisation.
- Measuring and reporting the financial position of an organisation;
- Measuring and reporting the financial performance of an organisation;
- Book-keeping and the preparation of company and sole-trader accounts.
- Marginal analysis;
- Full costing, activity-based costing;
- Budgeting, accounting for control.
- Cash budgets
Students demonstrate a basic understanding of both financial accounting and management accounting, but make significant errors in their work.
Students demonstrate good understanding and are able to produce accounting statements to a reasonable standard, without significant error.
Students demonstrate clear understanding and are ale to produce accurate and clear accounting 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: Understand how budgets are used for planning and control.
|CLASS TEST||Class Test 1||15|
|CLASS TEST||Class Test 2||15|
|EXAM||Exam S1 1.5 hrs||35|
|EXAM||Exam S2 1.5 hrs||35|
Teaching and Learning Strategy
- 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).
- 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.
- 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).
- McLaney, E. and Atrill, P. (2014). Accounting: An Introduction, 7th ed. FT Prentice Hall.
Pre- and Co-requisite Modules
Courses including this module
Compulsory in courses:
- NR43: BA Accounting/Italian year 1 (BA/AIT)
- NR44: BA Accounting/Spanish year 1 (BA/ASP)
- NM11: BA Business and Law year 1 (BA/BUSALAW)
- NM1B: BA Business and Law (4 year with Incorporated Foundation) year 1 (BA/BUSLAW1)
- N100: BA Business Studies year 1 (BA/BUSS)
- 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)
- NL41: BSc Accounting and Economics year 1 (BSC/ACCEC)
- NL4B: BSc Accounting and Economics (4 year with Incorp Foundation) year 1 (BSC/ACCEC1)
- NN4J: BSc Accounting and Finance (4 year with Incorp Found) year 1 (BSC/ACCF1)
- NN4H: BSc Accounting and Finance year 1 (BSC/ACCFIN)
- N402: BSc Accounting & Finance (with International Experience) year 1 (BSC/ACCFINIE)
- NL42: BSc Accounting and Economics with International Experience year 1 (BSC/AEIE)
- L190: BSc Business Economics year 1 (BSC/BEC)
- L19B: BSc Business Economics (4 year with Incorporated Foundation) year 1 (BSC/BEC1)
- L191: BSc Business Economics with International Experience year 1 (BSC/BECIE)
- 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)
- 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)
- L111: BSc Financial Economics year 1 (BSC/FINEC)
- L11B: BSc Financial Economics (4 year w Incorporated Foundation) year 1 (BSC/FINEC1)
- N501: BSc Marketing year 1 (BSC/MKT)
- N50B: BSc Marketing (4 year with Incorporated Foundation) year 1 (BSC/MKT1)
- 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)
Optional in courses:
- NQ26: BA Astudiaethau Busnes a Chymraeg year 1 (BA/ABCH)
- 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)
- N1T1: BA Business Studies and Chinese year 1 (BA/BUSCH)
- NR1C: BA Business Studies/French year 1 (BA/BUSSF)
- NR1F: BA Business Studies and German year 1 (BA/BUSSG)
- NR1H: BA Business Studies and Italian year 1 (BA/BUSSI)
- NR1K: BA Business Studies and Spanish year 1 (BA/BUSSS)
- N5R3: BA Marketing with Italian year 1 (BA/MKITAL)
- N5R1: BA Marketing with French year 1 (BA/MKTFR)
- NR51: BA Marketing and French (4 year) year 1 (BA/MKTFR#)
- N5R2: BA Marketing with German year 1 (BA/MKTGER)
- NR52: BA Marketing and German (4 year) year 1 (BA/MKTGER4)
- NR53: BA Marketing and Italian (4 year) year 1 (BA/MKTITAL)
- NR54: BA Marketing and Spanish (4 year) year 1 (BA/MKTSP)
- N5R4: BA Marketing with Spanish year 1 (BA/MKTSP#)
- 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)
- GN41: BSC Computer Science for Business year 1 (BSC/CSFB)
- GN4B: BSc Computer Science for Business (4 year with Incorp Found) year 1 (BSC/CSFB1)
- C6N1: BSc Sport Science & Business Management year 1 (BSC/SSB)
- M100: LLB Law year 1 (LLB/L)
- M11B: LLB Law (4 year with Incorporated Foundation) year 1 (LLB/L1)