Module Identifier MMM8010  
Academic Year 2003/2004  
Co-ordinator Mr Iain McDougall  
Semester Semester 1  
Course delivery Lecture   18 Hours  
  Seminars / Tutorials   5 Hours  
Assessment TypeAssessment Length/DetailsProportion
Semester Exam2 Hours exam to be run simultaneously with MBM2010  70%
Semester Assessment  30%
Supplementary Exam  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

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.


This module aims to give students a practical grasp of the basics of financial reporting (context, purposes, 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


? 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

W Reid and D R Myddleton The Meaning of Company Accounts 7th edition. Gower
R H Parker (1999) Understanding Company Financial Statements Penguin
P Attril and E McLaney (2001) Accounting and Finance for Non-specialists Prentice Hall
T Davies and B Pain Business Accounting and Finance McGraw Hill


This module is at CQFW Level 7