Description
Accounting for Management and Economics (AME)
Module title | Accounting for Management and Economics (AME) |
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Module code | INT1011 |
Academic year | 2018/9 |
Credits | 15 |
Module staff | Corinne Tuck (Convenor) |
Duration: Term | 1 | 2 | 3 |
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Duration: Weeks | 12 |
Number students taking module (anticipated) | 80 |
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Description - summary of the module content
Module description
This module is intended for non-accounting students who need an introduction to the role of financial and management accounting from the perspective of the modern manager.
The internationalisation of accounting standards and management accounting practices is emphasised in the teaching of the module. This would allow students not only to get an understanding of working abroad in accounting and general business departments, but also to consider the development and future prospects of related developments.
Since students will be taught current national and international corporate accounting practices, they will acquire an understanding of basic accounting knowledge that is necessary for working in accounting or general business departments in the UK or abroad. They will also be able to develop their transferable skills in basic writing, problem solving, numeracy, communication and time management.
This module is equivalent to BEA1013
Module aims - intentions of the module
This module aims to give students the confidence to analyse, interpret and use financial information provided in both internal and externally published financial reports.
Through this module, students will gain a broad understanding of the fundamentals of recording transactions, the content of the financial statements and the scope of financial reporting in the UK.
The module also introduces management accounting and shows how accounting information can be provided to support an organisation’s management in decision-making and control. It includes consideration of recent developments in social and environmental accounting.
The overall aim is therefore to give an introduction to accounting from a wider user perspective.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Explain and apply the accounting concepts which underpin the IASB accounting framework
- 2. Construct simple statements of financial performance and position and understand the key accounting adjustments made to these statements
- 3. Understand fundamentals of ratio analysis
- 4. Demonstrate an awareness of different sources of finance available to an organisation in the short term and long term
- 5. Identify different costing systems
- 6. Apply management accounting information for short-run decision making
- 7. Apply management accounting information for long-run decision making employing basic investment appraisal techniques
- 8. Explain the role of budgeting in financial planning and control
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 9. Use accounting concepts and conventions to apply accounting principles in practical situations
- 10. Understand how accounting data is used by diverse stakeholder groups
- 11. With guidance identify, synthesise, analyse and present appropriate information to assist management in controlling the business and taking financial decisions
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 12. Demonstrate basic written communication skills
- 13. Demonstrate basic problem solving skills
Syllabus plan
Syllabus plan
- Introduction to accounting and its relevance and usefulness for managers
FINANCIAL ACCOUNTING
Financial statements and analysis
- The statement of financial position
- The income statement and adjustments for accruals, prepayments, bad debts and depreciation
- The cash flow statement
- Interpretation of financial statements using ratio analysis
Company structure and financing
- An introduction to the financial statements for different business structures
- Sources of finance available to limited companies
MANAGEMENT ACCOUNTING
Decision making
- Short term decision making: cost volume profit; breakeven analysis; marginal costing; relevant costs
- Long term decision making; capital investment appraisal
Costing
- Cost classification and costing situations
- Absorption and marginal costing compared
- Activity based costing and job costing
Learning and teaching
Learning activities and teaching methods (given in hours of study time)
Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
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72 | 78 | 0 |
Details of learning activities and teaching methods
Category | Hours of study time | Description |
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Scheduled learning and teaching | 24 | Lecture |
Activities | 36 | Seminar |
Study Clinic | 12 | Optional sessions to reinforce key skills |
Guided independant study | 20 | On-line learning (MyAccountingLab) |
Guided independant study | 20 | Directed homework |
Guided independant study | 18 | Self-study |
Guided independent study | 20 | Workbook |
Assessment
Formative assessment
Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
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On-line assessment | 6 Hours | 1-13 | Answers online and in seminars |
Summative assessment (% of credit)
Coursework | Written exams | Practical exams |
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30 | 70 | 0 |
Details of summative assessment
Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
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Coursework | 30 | 2,000 words | 3, 10, 11, 12, 13 | Verbal and written |
Examination | 70 | 2 Hours | 1-13 | Verbal |
Re-assessment
Details of re-assessment (where required by referral or deferral)
Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
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Examination | Examination | 1, 2 & 4-13 | Resit period |
Re-assessment notes
In cases of referral, the exam will replace the total marks for the module. In case of deferral, the final exam is to be retaken and the mark combined with the marks from the other examination.
Resources
Indicative learning resources - Basic reading
Basic reading:
Scott P. (2016) Accounting for Business 2nd Ed. Oxford University Press ISBN 9780198821779
Other Useful Resources
Atrill and McLaney (2017) Accounting and Finance for Non-Specialists 10th Edition Pearson Education
ISBN 978-0-273-77803-5
In-house designed progressive workbook with spreadsheet solutions.
ELE – http://vle.exeter.ac.uk
Indicative learning resources - Web based and electronic resources
Pearson Myaccountinglab: http://myaccountinglab.mathxl.com/login_malintl.htm
Module has an active ELE page
Indicative learning resources - Other resources
In-house designed progressive workbook with spreadsheet solutions.
Credit value | 15 |
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Module ECTS | 7.5 |
Module pre-requisites | None |
Module co-requisites | None |
NQF level (module) | 4 |
Available as distance learning? | No |
Origin date | 11/06/2014 |
Last revision date | 01/08/2018 |