Description

Introduction to Accounting and Finance

Description - summary of the module content

Module description

Accounting, which is concerned with collecting, analysing and communicating financial information, is a key function in any organisation as it informs decision making. All business managers should have a working knowledge of financial reporting and an understanding of the basic techniques of management accounting. This module, which introduces students to the key financial statements and how to complete and interpret them, will cover concepts that enable students to understand and evaluate the financial performance and position of a business.

For this module there is neither a requirement for prior knowledge of accounting and finance, nor pre-requisite  or co-requisites.    

Module aims - intentions of the module

The aim of the module is to give the student an introduction to financial and management accounting. It outlines some of the basic accounting concepts and procedures used in the preparation of financial statements as well as some of those used in management accounting.

Financial terminology in English will be presented and practised through listening, reading, speaking and writing.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Demonstrate a basic awareness of the fundamental concepts and principles of accounting in the preparation of financial and management accounts
• 2. Produce simple financial statements for a business entity
• 3. Use appropriate budgeting and costing techniques to analyse a business situation and make a reasoned decision
• 4. Use ratios to analyse and interpret financial information
• 5. Demonstrate a knowledge of basic financial terminology when analysing a business situation

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 6. With guidance, analyse, synthesise and present appropriate information to assist with decision making
• 7. Evaluate different approaches and procedures and apply them to practical situations

ILO: Personal and key skills

On successfully completing the module you will be able to...

Syllabus plan

Syllabus plan

• Introduction to accounting
• Introduction to book keeping
• Preparation of financial statements using accounting conventions
• Analysing and interpreting financial reports
• Examining different costing techniques
• Budgeting
• Capital investment appraisal
• Short-term and long-term financing
• Understanding the limitations of financial techniques

Learning and teaching

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Assessment

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Re-assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Deferral – if you miss an assessment for reasons judged legitimate by the Mitigation Committee, the applicable assessment will normally be deferred. See ‘Details of reassessment’ for the form that assessment usually takes. When deferral occurs there is ordinarily no change to the overall weighting of that assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be required to take a re-sit exam. Only your performance in this exam will count towards your final module grade. A grade of 40% will be awarded if the examination is passed.

Resources

Indicative learning resources - Basic reading

Basic reading:

Accounting: A Smart Approach (3rd Edition)

Carey, Knowles & Towers Clark (OUP)

Module has an active ELE page

Indicative learning resources - Other resources

Company annual reports

Class hand-outs and activities

Online resources

Key words search

Accounting and Finance