The module is designed to teach students how to prepare, read and interpret financial information with a view to their being future business managers rather than accountants.
The module will begin with a brief demonstration of bookkeeping using an easy understandable approach. Students will be shown how to prepare financial statements from a trial balance and make adjustments to the figures given by acting on information given in a short scenario.
The regulatory framework of financial reporting will be considered with annual reports and accounts of a variety of organisations. The module will end with an analysis of financial statements with students shown how to interpret data and make sensible recommendation.
Private Study: 32
Contact Hours: 118
Total: 150
Compulsory to the following courses:
BSc Business and Management and associated programmes
BSc International Business
BSc Business and Marketing
BSc Business Analytics and Management
Main assessment methods:
VLE Test 1 (15%)
VLE Test 2 (15%)
Examination, 2 hours (70%)
Reassessment methods:
100% Examination
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- Demonstrate the link between financial accounting systems and business activities for a variety of organisations.
- Describe the role and limitations of financial reporting in providing useful information to decision makers.
- Produce financial statements from trial balance for sole traders and limited companies incorporating post trial balance adjustments.
- Illustrate the various influences on the financial reporting process and how they impact on the annual report and accounts in UK companies, in particular, and why there is a need for regulating the practice of financial reporting.
- Analyse a set of financial statements and be able to explain the limitations of techniques of analysis.
The intended generic learning outcomes.
On successfully completing the module students will be able to:
- Plan work, manage their time, and study independently.
- Retrieve information from a variety of sources of financial records.
- Analyse and communicate information from a variety of sources of financial data.
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