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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

Financial accounting:

  • 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.

Management accounting:

  • Marginal analysis;
  • Full costing, activity-based costing;
  • Budgeting, accounting for control.
  • Cash budgets

Assessment Criteria


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.

Learning outcomes

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

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

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

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

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

  6. Management accounting: Understand how budgets are used for planning and control.

Assessment Methods

Type Name Description Weight
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

Tutorial 3
Lecture 20
Private study 152
Tutorial 5
Lecture 20

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).
  • 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).


Reading list

  • 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:

Optional in courses: