MBS1125 - Accountancy

Objectives:

On successful completion of the module, students will be able to:

1 explain the conventional and legal principles applied when preparing financial statements for a limited company
2 prepare, analyse and interpret financial statements of a simple limited company
3 apply basic costing techniques to the production process
4 analyse and interpret management accounting data in the context of both short and medium term decision making
5 prepare fixed and flexible budgets from forecast data
6 analyse variances of costs and revenues from budgets and standards

Content:

Accounting terminology and concepts
Financial accounting statements, with particular reference to limited companies – balance sheet; income statement; cash flow statement
Analysis and interpretation of financial statements, through percentages and ratios; the limitations of ‘introspective’ ratio comparison
Marginal costing and contribution; relevant costs for short and medium term decisions
Absorption costing for jobs and products
Fixed and flexible budgets
Budgetary control; variance analysis

Learning and Teaching Information:

One two-hour session per week for all students, comprising: a brief revision of previous weeks’ material; a review of student solutions to exercises previously set; introduction of new material; the setting of exercises for student completion. Additional one-to-one sessions with individual students will be scheduled on demand. Individual student exercises will be discussed / ‘marked’ both ‘in person’ and via email. A set text book, with accompanying companion website, will be provided and referenced during sessions. Basic and extra material will be made available via a virtual learning environment (Bodington Common / Moodle)

Lecture / tutorial session
Contact hours: 20
Number of Groups: one

Assessment: