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This module introduces a toolkit that enables a better understanding of the performance of businesses, and the decisions and problems they face.

These issues are discussed daily by managers and the media. No prior knowledge of accounting is assumed: students learn how financial information is prepared and communicated and how it is used as an effective tool for decision making and control.

This information includes areas of financial and management accounting and the main principles of finance.

The module adopts a global perspective and encompasses the regulatory framework adopted by the International Accounting Standards Board (IASB).

Topics covered

• Introduction
• Financial Accounting: Measuring and Reporting Financial Position, and Financial Performance
• Accounting for limited companies and partnerships
• Measuring and Reporting Cash Flows
• Introduction to Management Accounting & Cost-Volume Profit Analysis
• Full Costing vs. Activity Based Costing
• Performance Measurement Systems and Budgeting and Control
• Capital Investment Decisions
• Sources of Finance
• Managing Working Capital

Learning outcomes

If you complete the course successfully, you should be able to:

• Define the concepts underlying accounting and finance
• Record financial transactions
• Prepare and interpret financial statements
• Analyse relevant data for decision making purposes, applying appropriate techniques
• Critically discuss budgeting and control issues in the modern global environment
• Adopt appropriate techniques for capital investment decisions and financing decisions
• Critical thinking, analytical skills, interpretative skills (including the ability to justify choices)
• Management-by-exemption, and control and monitoring skills
• Numeracy and active quantitative skills (including: data preparation, analysis, problem solving and interpretation skills)
• Time management skills (including the ability to make informed decisions timely and to work under pressure)
• Effective communication skills (including oral and written communication skills)
• Individual initiative and enterprise skills
• Digital and information literacy skills
• Research skills

Assessment

This module is assessed by:

Coursework (50% weighting):

• There is one item of coursework for this module which contributes to the final assessment mark for this module:
• Coursework: a written essay of a maximum of 2,000 or 2,500 words (deadline – weeks 9-12) The coursework is designed to check student progress, extend and reinforce concepts covered and also test individual performance.

Examination (50% weighting):

• The final piece of assessment will be an unseen written examination of 2 hours’ duration.

Essential reading

The following is provided as part of the course materials after you register:

• McLaney, E., & Atrill, P. Accounting and Finance: An Introduction, 8th edition, Pearson, 2016
• Brenda L. Mattison, Ella Mae Matsumura, Tracie L. Miller-Nobles, Horngren's Accounting, The Financial Chapters, Global Edition, 11th edition, Pearson, 2015