Accounting for Management and Economics (AME)

Module title	Accounting for Management and Economics (AME)
Module code	INT1011
Academic year	2023/4
Credits	15
Module staff	Corinne Tuck (Convenor)

Duration: Term	1	2	3
Duration: Weeks	12

Number students taking module (anticipated)	150

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 allows 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 reports and externally published financial reports.

Through this module, students will gain a broad understanding of the fundamentals of recording transactions, the content of 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 apply the accounting concepts which underpin the IASB accounting framework
2. Construct simple statements of financial performance, position and cashflow and be able to interpret these statements
3. Understand the key accounting adjustments made to the above statements
4. Calculate and interpret key accounting ratios
5. Be aware of different sources of long term and short-term finance available to an organisation
6. Identify different costing systems
7. Apply management accounting information for short-run decision making
8. Apply management accounting information for long-run decision making employing basic investment appraisal techniques
9. Explain the role of budgeting in financial planning and control

ILO: Discipline-specific skills

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

10. Use accounting concepts and conventions to apply accounting principles in practical situations
11. Analyse how accounting data is used by diverse stakeholder groups
12. 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...

13. Demonstrate basic problem-solving skills

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 and sole traders
Corporate governance
Internal and external stakeholder interests

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

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

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
60	90

Details of learning activities and teaching methods

Category	Hours of study time	Description
Lectures	20	Pre-recorded lectures (10 hours) and activities to be watched before the seminar. Live lectures (10 hours) these will include practical problem-solving exercises
Scheduled learning and teaching activities (synchronous)	40	Seminars these will be teacher led. You should prepare for each seminar based on the related lecture.
Guided independent study	20	Working on case studies, problem solving activities, short essays
Guided independent study	20	On-line learning (MyAccountingLab)
Guided independant study	35	Practice of techniques
Guided independant study	20	Reading and researching
Guided independent study	15	Working in groups for coursework

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Formative Report Plan	2 hours	1,2,3,4,10,11,12	Verbal feedback in seminars
Online assessment and problem-solving mock	2 hours	1,2,5,12,13	Answers online and in seminars
Mock exam	2 hours	6,7,8,9,12,13	Suggested answers provided

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
50	50

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Report (small group)	40	2,000 words	1,2,3,4,10,11, 12	Written Report
Online assessment and problem solving	10	Multiple choice test (1-2 hours)	1,2,5,12,13	Answers online and in seminars/text book, ELE
Written exam	50	2 hours	6,7,8,9,12,13	Performance outcome- examiner's report

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
Written Examination (open book)	Written Examination 2 hours	1-13	Next assessment opportunity

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.

Indicative learning resources - Basic reading

Basic reading:

Atrill and McLaney (2019) Accounting and Finance for Non-Specialists 11^th Edition Pearson Education

ISBN 978-0-273-77803-5

Other Useful Resources

Scott P. (2016) Accounting for Business 2^nd Ed. Oxford University Press ISBN 9780198821779

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

Indicative learning resources - Other resources

In-house designed progressive workbook with spreadsheet solutions.

Key words search

Introductory accounting, basic accounting, business accounting, accounting

Credit value	15
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	15/06/2023