Fundamentals of Financial and Management Accounting
| Code | School | Level | Credits | Semesters |
| BUSI1093 | Business | 1 | 20 | Full Year UK |
- Code
- BUSI1093
- School
- Business
- Level
- 1
- Credits
- 20
- Semesters
- Full Year UK
Summary
• Key accounting concepts.
• The impact of accounting policy selection.
• The recording and collating of accounting information, including double entry bookkeeping.
• Preparation of financial statement from accounting data.
• Cost concepts and allocation of manufacturing overheads.
• Absorption and variable costing.
• Cost-volume-profit analysis.
• Relevant costing.
• Budgeting.
Target Students
All Qualifying Year Business School undergraduate students and BSc Hons Financial Mathematics students (U6UFNMTH).
Classes
- One 1-hour-30-minute seminar each week for 6 weeks
- One 1-hour-30-minute lecture each week for 22 weeks
- One 45-minute lecture each week for 22 weeks
Assessment
- 30% Exam 1 (1-hour): ExamSys Exam
- 70% Exam 2 (2-hour): Exam
Assessed by end of spring semester
Educational Aims
To introduce the context and essential techniques of accounting, including double-entry bookkeeping, and to consider the uses of accounting both internally to the business (such as assisting in management decision-making) and externally (in the preparation of financial statements).Learning Outcomes
Knowledge and understanding:
This module develops a knowledge and understanding of:
• The sources, uses and management of finance.
• The use of accounting and other information systems for planning, control, and decision making.
• The main current technical language and practices of accounting under IFRS.
• Skills in recording and summarising transactions and other economic events in the preparation of financial statements.
Intellectual skills:
This module develops:
• The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
• Conceptual and critical thinking, analysis, synthesis and evaluation.
Professional practical skills:
This module develops:
• Numeracy and quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
Transferable (key) skills:
This module develops:
• Self-management and a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.