Module Information
Course Delivery
Assessment
Due to Covid-19 students should refer to the module Blackboard pages for assessment details
| Assessment Type | Assessment length / details | Proportion |
|---|---|---|
| Semester Exam | 2 Hours | 60% |
| Semester Assessment | Written report (1,500 words) | 20% |
| Semester Assessment | Multiple choice tests (5 x 45 minutes) (5 x 20 minutes) | 20% |
| Supplementary Exam | 2 Hours | 60% |
| Supplementary Assessment | Written report (1,500 words) | 20% |
| Supplementary Assessment | 2 Hours Multiple choice test (1 hour) | 20% |
Learning Outcomes
On successful completion of this module students should be able to:
Construct and interpret key company financial statements, including the balance sheet and income statement.
List, describe, explain, apply, interpret and criticize widely used methods of financial statement analysis.
Identify the internal and external users and uses of company accounts information.
Carry out and interpret a Cost Volume Profit analysis.
Identify corporate objectives, and explain the advantages and disadvantages of different sources of finance.
Describe, explain and illustrate the time value of money, and carry out present and future value calculations.
Brief description
In the field of financial accounting, this module examines the structure, construction and interpretation of the balance sheet and income statement. In management accounting, there is coverage of accounting for costs leading to Cost Volume Profit analysis. In finance, the module examines financial management and corporate finance, net present value calculations, and highlights the principal sources of finance used by companies.
Content
• Uses and users of accounting information
• Principal financial accounting statements
• Structure of the balance sheet
• Preparation of a balance sheet
• Asset valuation
• Limitations of the conventional balance sheet
• Structure of the income statement of a limited company
• Categories of income and expenditure
• Links between income statement and balance sheet
• Stock and cost of sales
• Debtors and the doubtful debt provision
• Links between income statement and cash flow
• Subjective aspects of profit measurement
• Financial statement analysis
MANAGEMENT ACCOUNTING
• Direct, indirect, period and product costs
• Cost behaviour
• Relevant, irrelevant, avoidable and unavoidable costs
• Sunk costs
• Opportunity cost
• Cost Volume Profit analysis
FINANCE
• Financial Management
• Corporate objectives
• Limited liability
• Shareholders and directors
• Capital structure
• Types of finance
• Ownership and agency problems
• Present and future value formulae and calculations
• Annuities and perpetuities
• Annual Percentage Rate
• Sources of external and internal finance
• Debt vs Equity, long-term vs Short-term
• Methods for issuing equity
• Loan capital / bonds
Module Skills
| Skills Type | Skills details |
|---|---|
| Application of Number | • Develop an easy familiarity with numerical data sources and numerical data • Apply numerical data to problem solving and decision making with care and accuracy • Assess the reasonableness of and interpret numerical solutions • Support assertions/arguments with appropriately developed and presented numerical data |
| Communication | • Develop confidence in and clarity of oral communication via example class/tutorial participation • Develop clarity and focus of written communication via development of answers to tutorial questions • Develop and use appropriate subject-specific vocabulary in oral and written communication |
| Improving own Learning and Performance | • Identify and distil the key issues covered by lectures and tutorials • Identify and use a range of learning resources • Investigate benefits of small group working on tutorial preparation • Structure study to accommodate intensive learning |
| Information Technology | • Use spreadsheet software (Excel) to complete elements of the tutorial questions (e.g., for ease of tabulated numerical calculations, production of summary statistics, production of graphs, etc.) • Use a variety of electronic web- and library-based resources to review available information and retrieve pertinent information |
| Personal Development and Career planning | • Identify a variety of potential career opportunities within the financial and professional services sector • Develop skills in financial analysis and decision making which are essential to the aspiring accountant/graduate |
| Problem solving | • Identify the precise problem to be solved / decision to be made • Assess which costs are relevant, irrelevant, avoidable and unavoidable to the problem / decision |
| Research skills | • Develop basic information accessing and researching skills • Properly reference/attribute information sources • Select the most pertinent information for retrieval • Retrieve information |
| Subject Specific Skills | • Develop competence in understanding and appropriately applying introductory accounting techniques • Identify and use sources of accounting |
| Team work | • Develop experience of team work and develop team working skills via small group working on tutorial preparation |
Notes
This module is at CQFW Level 4