Introduction to Accounting and Finance

Learning Outcomes

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• explain the benefits of budgetary control.
• appreciate the basic principles underlying costs;
• explain applications of contribution analysis;
• discuss who might be the main users of financial statements and their needs;
• define, calculate and interpret ratios that help to analyse and understand business performance;

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• the management functions of planning, decision making and control and how these are related within a business activity;
• the use of the main schemes of cost classification, costing methods, contribution analysis and capital investment appraisal.
• simple sets of financial statements;
• key capital aspects of the business;

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• self-management; learning skills; communication skills; problem solving.

• Financial Accounting: User demand for accounting information; Income statement and balance sheet; basic accounting postulates; problems of profit measurement and asset valuation; analysis and interpretation of accounting information; the regulatory framework.
• Management Accounting: Cost concepts and classification; cost behaviour and cost-volume-profit analysis; costing for short term operating decisions; product costing.
• Financial Control: Planning and budgetary control; introduction to capital investment appraisal; working capital management; financing the business; capital gearing.

There will be two lectures and one class per week. The lectures will introduce you to material. Classes will be used to explore concepts and practice techniques. You are also expected to undertake independent study.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Set exercises - non-exam

• Assessment Type: Formative
• Feedback: Feedback on exercises provided.
• Final Assessment: No
• Group Work: No

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.