AF5001 - Accounting for Business

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What will I learn on this module?

You will learn to prepare, present and utilise single and group company accounting information to aid managerial decision making that represents the ‘real life’ scenarios faced within the accounting function of a business organisation. Accounting here is viewed as an information system that conveys information to aid effective decision making and controlling business performance. The following topics are covered during the module:

Meeting needs of external decision makers
• The conceptual framework of financial reporting
• Measuring and reporting financial position – single company
• Measuring and reporting financial performance – single company
• Consolidated statement of financial position – simple group company
• Consolidated statement of comprehensive income – simple group company
• Ratios and interpretation of published financial statements

Meeting needs of internal decision makers
Relevant costs and revenues
• Short-term decision making,
• the theory of constraints and throughput accounting,
Budgeting
• incremental versus zero-base budgeting approach
• master budget
• benefits of budgeting
• behavioural aspects of budgetary control systems,
Standard costing and variance analysis
• Material variance
• Labour variance
• Overhead variance
• Sales variance
Measuring and controlling divisional performance
• Return on investment
• Residual income
• Economic value added (EVATM)
• Transfer pricing and divisional performance

How will I learn on this module?

You will be supported by a teaching and learning plan which outlines the formal sessions, together with the tutor-directed study and independent learning. An interactive approach to lecture sessions will provide you with factual and conceptual understanding of a topic and will enable you to tackle a series of directed study and seminar questions. You are expected to ask questions in lecture for clarification of theories, concepts and answer questions used by lecturer as examples. In seminars, you are expected to undertake a reflective-practitioner approach to demonstrate your ability to apply theories and concepts to critically analyse the information and make recommendations appropriate for the organisation under study.

Directed learning will centre upon a range of activities including pre-reading, preparation for interactive activities.

Independent learning will centre upon you identifying and pursuing areas of interest in relation to the subject area or by providing deeper/broader knowledge and understanding of the subject through a range of learning activities that might include extended reading, reflection, research etc.

You will learn through tutor led activities of two hour lecture per week, plus one hour seminar activity per week (total 36 hours across the module), alongside independent completion of directed study. Directed study is highlighted on the teaching and learning plans, alongside updates to recommended reading during lectures and seminars.

How will I be supported academically on this module?

During the lectures, your lecturer will guide you through the material and highlight to you key reading materials from both the academic and practice led literature (including reference to the relevant International Financial Reporting Standards). Lectures will be recorded using Panopto to allow you to revisit lecturer’s comments. Your seminar tutors will provide individualised feedback on your directed study exercise/case study solution and group feedback on your in-class group work during sessions. Tutors will also be available by appointment and over email to answer your queries about the module.

The e-learning portal will be populated with lecture, directed study materials and seminar activities in advance of all sessions. Solutions to the directed study and in-class exercises will also be made available to you through e-learning portal following seminars.

Examples of answer to assessment questions will also be available for you to access, to enable you to prepare accordingly for assessment.

What will I be expected to read on this module?

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at: http://readinglists.northumbria.ac.uk
(Reading List service online guide for academic staff this containing contact details for the Reading List team – http://library.northumbria.ac.uk/readinglists)

What will I be expected to achieve?

Knowledge & Understanding:
• You are expected to be able to apply accounting knowledge informed by theory and practice (MLO1).

• Apply accounting knowledge to organisational problems and recommend managerial actions with justification (MLO2).

Intellectual / Professional skills & abilities:
• You will develop an ability to effectively communicate your analysis of accounting information and recommended managerial actions in global business context, thereby preparing you for progression academically or professionally (MLO3).

Personal Values Attributes:
• You will demonstrate the need for accounting professionals to behave ethically and responsibly while discharging their professional responsibility (MLO4).

How will I be assessed?

Formative Assessment:
Formative assessment will be provided to you through a range of seminar activities such as case studies, practical exercises and discussion questions. These will enable you to prepare for summative assessment at end of the module. You will be given the opportunity to develop examination skills through example of examination questions. Feedback on formative assessment will be provided by tutors during sessions, and through guidance notes to seminar activities.

Summative Assessment:
Two blackboard tests weighting 20% of module marks (10% each test) and end of semester examination weighting 80% of module marks. The blackboard tests will assess module-learning objective 1 and end of semester examination will assess all module-learning objectives thoroughly using a mix of Multiple Choice Questions (MCQs) and essay-type questions.

Pre-requisite(s)

None

Co-requisite(s)

None

Module abstract

Through a range of theoretical and practical instructions, this module allows you to explore the role of the accountant in a business organisation. The module gives an insight into the practical aspects of why accounting as a business function is valuable and how it helps in planning, decision making and controlling. The module also explores the current regulatory framework underpinning financial reporting and theories supporting current management accounting practice and a critical appraisal thereof. The module discusses the effectiveness of various performance appraisal and control techniques (e.g., standard costing, budgets) due to their nature and influence on managerial behaviour.

You will analyse a number of case studies and practical exercises to enhance your technical knowledge in accounting and analytical skills used by modern managers to discharge their planning, decision making and controlling responsibilities.

Course info

UCAS Code N1S4

Credits 20

Level of Study Undergraduate

Mode of Study 3 years full-time or 4 years with a placement (sandwich)/study abroad

Department Newcastle Business School

Location Law and NBS Building, City Campus East

City Newcastle

Start September 2019 or September 2020

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