ACC1003 : Introduction to Accounting and Finance for Non-Specialists (2009)
| Semester 1 | 10 Credits |
| Semester 2 | 10 Credits |
| ECTS Credit Value | 10.0 |
Summary
An introductory module for non-specialists covering financial accounting, management accounting and some basic issues in finance.
Ther module is designed to enable graduates to communicate with accounting and finance professionals and to enhance management career development.
Aims
To provide an introduction to key concepts, terminology and knowledge in accounting and finance to facilitate career development in business rather than to lead to further accounting studies.
Outline Of Syllabus
1-The nature and purpose of accounting
2-Users of financial statements and their needs, basics of UK Regulations - accounting rules
Balance Sheet and Income Statement – what they show – the measurement of wealth
3-How income and expenditure are measured.
4-Trial balance
5-Financial statements
6-Cash v Profit; Valuations in Balance Sheet
7-Financial Reporting - Company Accounts – Income statement, Balance sheet. Disclosure requirements
8-Cash Flow statements
9-Interpretation of Accounts
10-Fame and Amadeus
11-Introduction to Management Accounts
12-Direct and Indirect cost
13-Absorption & Activity Based Costing
14-Budgeting
15-Cash Forecasts, Credit Control
16-Standard Costing
17-Contribution Analysis
18-Sources of Finance & characteristics
19-Capital Appraisal
Intended Knowledge Outcomes
By the end of the module students should be able to:
- Understand a set of financial statements at a basic level
- Understand key accounting concepts
- Understand how profit is measured and assets are valued
- Appreciate different approaches to costing and their implications
- Understand the difference between income and expenditure budgets and cash budgets
- Understand the principles of working capital management
Intended Skill Outcomes
By the end of the module students should be able to:
- Interpret a simple real-life set of financial statements
- Use Fame and Amadeus to obtain data
- Interpret management accounting data
- Analyse alternative sources of finance
- Carry out simple investment appraisal
- Use external data
Teaching Rationale And Relationships
The assignment gives students the opportunity to apply analytical skills to a set of accounts. This also provides the opportunity to test skills of written presentation and financial analysis. The formal examination will assess candidates' ability to use and interpret accounting and financial data, as well as to explain key concepts.
Reading List
- Accounting in a Nutshell: Finance for the Non-specialist (Background)
Author: Walker J
Notes: CIMA Publishing 2001 - Accounting for Non-Accounting Students (Essential reading)
Author: Dyson, J R
Notes: 6th ed. FT Prentice Hall - Business Finance: Theory and Practice (Background)
Author: McLaney, E.J
Notes: 6th Ed. FT Prentice Hall. - Accounting for Non-Specialists (Background)
Author: Jones, M
Notes: Wiley 2002 - Introduction to Accounting and Finance
Author: Black, G
Notes: FT Prentice Hall (latest edition) - Understand Accounts (Background)
Notes: EQL
Staff
| Mr Tom McLean |
|
|
|
|
