Module Information

Module Identifier
MBM2010
Module Title
FINANCIAL REPORTING
Academic Year
2009/2010
Co-ordinator
Ms Megan R Williams
Semester
Semester 1
Other Staff
 

Course Delivery

Delivery Type Delivery length / details
Seminars / Tutorials 6 Hours.
Lecture 1 Hours.
 

Assessment

Assessment Type Assessment length / details Proportion
Semester Assessment 30%
Semester Exam 2 Hours   70%
Supplementary Exam 2 Hours   100%

Learning Outcomes

Having completed this module, student should be able to:

  • describe and explain the conventions which underpin financial accounting
  • describe, compare and contrast the different forms of UK business organisations
  • explain, apply and illustrate the rules by which assets, liabilities, income and expense are determined for insertion into financial accounts
  • interpret a simple trial balance and thence prepare a set of accounting statements (profit and loss account, balance sheet and cash flow statement)
  • interpret simple financial statements, perform financial ratio analysis and prepare a simple analyst style report, tying in numerical work to interpret underlying business history, position and prospects

Aims

This module aims to give students a practical grasp of the basics of financial reporting (context, purpose and the regulatory framework), the recording of business transactions and the preparation, understanding and analysis of financial accounts (being the profit and loss account, balance sheet and cash flow statement). The over-riding concern is that students should not be panicked or cowed when faced with financial accounting information; rather, that they should be able properly to discern and interpret financial accounting information, and contribute usefully to discussions and decision making based on or about it.

Brief description

This module is intended to provide a practical understanding of the context, preparation and analysis of financial accounts, as pertinent to the non-specialist general manager.

Content

  • context and purposes of financial reporting in the UK
  • regulatory framework and standards for financial reporting
  • accounting concepts, policies and treatments
  • recording business transactions
  • preparation of financial staments (profit and loss account, balance sheet and cash flow statement)
  • interpretation and analysis of financial statements

Transferable skills

The module also aims to assist the development of a variety of personal transferable skills by encouraging students to:

  • identify and distil the key issues covered by lectures, tutorials and recommended readings
  • develop basic information accessing and research skills; discriminate between relevant and irrelevant information for the purposes of decision making; analyse data, apply judgement and solve problems
  • communicate effectively both orally and in writing; participate actively in tutorials either by leading discussions or responding to issues raised; and work under pressure and meet deadlines

Reading List

Supplementary Text
Parker, R H (1999) Understanding Company Financial Statements Penguin Primo search
Attrill, P and McLaney, E (2001) Accounting and Finance for Non-specialists Prentice Hall Primo search Davies, Tony and Pain, Brian (2001) Business Accounting and Finance McGraw-Hll Primo search W Reid and D R Myddleton The Meaning of Company Accounts 7th edition Gower Primo search

Notes

This module is at CQFW Level 7