Accounting & its Regulatory Framework

Want to know how to interpret annual accounts of limited companies?  And, apply appropriate financial techniques to short-term business decision-making situations?  This module will help you develop your financial skills in such areas and serve as a foundation for further financial studies.

What does the module cover?

Gain an understanding of and learn to interpret the information contained in a company’s annual report.  Develop an understanding of the concepts, conventions and regulations underpinning the preparation of the main financial reports.  Learn practical skills to apply key ratios and management accounting techniques appropriately for analysing financial performance and in short-term decision making situations.

More Information

Module Code: FE1010

Key topics:

• The nature and objectives of accounting identifying users, purpose and form of the main accounting reports
• The regulatory framework governing the preparation of accounting statements 
• The format, content, and the application of the regulatory framework to the Balance Sheet, the Profit and Loss Account, and Cash Flow Statement
• The major sources of information for the analysis of company accounts
• Calculation of the more important accounting ratios
• The importance of working capital to the operations of a business
• The contents and significance of the directors’ report, the auditors’ report and the chairman’s statement
• The analysis of costs.
• Cost classification.
• Cost behaviour in relation to activity.
• Application of cost-volume-profit analysis.
• The management of cash and the preparation of cash budgets

Pre-requisites

None

Number of credits & study time

20 credits / 200 hours

Assessment

The summative assessment for this module comes in two parts, each counting towards 50% of your final grade:

Component 1

A group project of approximately 2000 words based on the Annual Report of a public limited company

Component 2

1.5 hour open-book time-constrained assignment