MBM2010 - FINANCIAL REPORTING

Module Identifier

MBM2010

Module Title

FINANCIAL REPORTING

Academic Year

2003/2004

Co-ordinator

Ms Megan R Williams

Semester

Semester 1

Course delivery

Seminars / Tutorials

6 Hours

Lecture

20 Hours

Assessment

Assessment Type	Assessment Length/Details	Proportion
Semester Exam	2 Hours	70%
Semester Assessment		30%

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

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.

Objectives

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.

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

Outline syllabus

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

Reading Lists

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

Notes

This module is at CQFW Level 7