Introduction to Accounting - MAN00033C
Module will run
| Occurrence | Teaching period |
|---|---|
| A | Semester 1 2025-26 |
Module aims
This module introduces the core concepts of financial accounting and management. It enables students to prepare and interpret financial statements and considers how these may be used in practice. The module then continues with introducing the core concepts of management accounting and how it affects the business organisation. It enables students to perform and evaluate management accounting tools and concepts available to managers for financial and non-financial decision making and considers how these may be used in practice.
Overall, this module offers a proper introduction of the interrelationship of two important accounting systems and how these are working together in organisations, while offering students avenues to recognise their uses and differences.
Module learning outcomes
Identify the key concepts underpinning financial accounting.
Understand the basis of preparation of financial statements.
Prepare a range of financial statements.
Apply and interpret financial analysis techniques to the successful development of business.
Gain an introduction to financial markets.
Identify the key concepts underpinning management accounting.
Understand the nature and purpose of a range of management accounting tools.
Apply the use of management accounting tools to the evaluation of the operating environment.
Module content
The main accounting statements: Balance sheet, Profit and loss account, cash flow statements
The users of financial statements.
Adjustments to accounts: stock, accruals, prepayments, bad and doubtful debt, depreciation.
Preparation of accounts from trial balance.
Interpretation of accounts: ratio analysis.
Introduction to financial markets.
Costing: cost classification, traditional (absorption) costing, life-cycle costing in manufacturing and service industries (and Kaizen costing), Total Quality Management, target costing (both product and service provision industries).
Contribution analysis: break even and margin of safety, scarce resources and analysis of contribution per limiting factor.
Budgeting: the budgeting process, introduction to and critique of standard costing and variance analysis, sustainability in budget preparation, accounting for labour, materials and overheads (MA, C).
Indicative assessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 100 |
Special assessment rules
None
Indicative reassessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 100 |
Module feedback
Feedback will be given in accordance with the University Policy on feedback in the Guide to Assessment as well as in line with the School policy.
Indicative reading
Thomas A. and Ward A. M. (2019), Introduction to Financial Accounting, 9th Edition, McGraw Hill
Drury, C. (2020), Management and Cost Accounting, 11th edition. Cengage.
Other suggested texts:
McLaney, E. and Atrill, P. Accounting and Finance: An Introduction, 11th edition. Prentice Hall
Elliot B. and Elliot J. (2024) Financial Accounting and Reporting, 20th edition, Pearson