Content and teaching | Assessment | Availability

Module content and teaching

Principal aims

The module aims to provide you with a broad introduction to financial and management accounting from a managerial or user perspective rather than that of an accounting specialist.

Principal learning outcomes

By the end of the module you should be able to: explain the nature and purpose of the three main financial statements; explain accounting conventions used in their construction; identify major categories of ratios used for analysis purposes; distinguish between fixed and variable costs; identify costs which are relevant to marginal decisions; find break-even points and margins of safety; explain weaknesses in break-even analysis; and demonstrate how marginal analysis can be used in short-term decision-making; explain the problems involved in charging full costs in a multi-product environment; and describe the role and nature of activity-based costing; explain the relationship between budgets, strategic objectives and strategic plans; describe how various budgets are interlinked in a business; interpret ratios in order to analyse position of firm, demonstrating understanding of the limitations of this type of analysis; calculate important ratios using financial statement information; construct simple versions of the three main financial statements from relevant information provided; use traditional full-costing techniques to deduce the full cost of a unit of output in both a single-product and a multi-product environment; construct budgets from relevant data; and flex budgets to take account of changes in output; provide clear written explanations of various aspects of the module, including: the use of budgets as tools for achieving organisational objectives; the advantages and disadvantages of activity-based costing in comparison to traditional costing; the uses and limitations of ratio analysis; the (intended and unintended) consequences of imposing accounting conventions on the preparation of financial statements; manage your own learning, completing ta

Timetabled teaching activities

2 hours per week lecture, 1 hour per week seminar

Departmental link

http://www.wbs.ac.uk/students/undergraduate/

Module assessment

Assessment group	Assessment name	Percentage
12 CATS (Module code: IB133-12)
B (Examination only)	2 hour examination (Summer)	100%
15 CATS (Module code: IB133-15)
B (Examination only)	3 hour examination	100%

Module availability

This module is available on the following courses:

Core

• Undergraduate Chemistry with Management (F1N1) - Year 2
• Undergraduate Chemistry with Management (with Intercalated Year) (F1N2) - Year 2

Optional Core

• Undergraduate Mathematics and Business Studies (with Intercalated Year) (G1N2) - Year 2
• Undergraduate Mathematics and Business Studies (G1NC) - Year 2
• Undergraduate Law and Business Studies with Intercalated Year (4+1) (MN36) - Year 1
• Undergraduate Law and Business Studies (Qualifying Degree) with Intercalated Year (MN37) - Year 1
• Undergraduate German and Business Studies (RN21) - Year 1
• Undergraduate Social Studies (Part-time) (Y201) - Year 1
• Undergraduate Social Studies (Part-time) (Y201) - Year 2
• Undergraduate Social Studies (Part-time) (Y201) - Year 3
• Undergraduate Social Studies (Part-time) (Y201) - Year 4
• Undergraduate Social Studies (Part-time) (Y201) - Year 5
• Undergraduate Social Studies (Part-time) (Y201) - Year 6
• Undergraduate Social Studies (Part-time) (Y201) - Year 7

Optional

• Undergraduate Physics and Business Studies (F3N1) - Year 2
• Undergraduate Physics and Business Studies (F3N1) - Year 3
• Undergraduate Physics and Business Studies (with Intercalated Year) (F3ND) - Year 4
• Undergraduate Chemistry and Business Studies (FN11) - Year 3
• Chemistry and Business Studies(with Intercalated Year) (FN12) - Year 4
• Undergraduate Mathematics (BSc) (G100) - Year 2
• Undergraduate Mathematics with Intercalated Year (G101) - Year 2
• Undergraduate Mathematics (MMath) (G103) - Year 2
• Undergraduate Master of Mathematics (with Intercalated Year) (G105) - Year 2
• Undergraduate Mathematics (MMath) with Study in Europe (G106) - Year 2
• Undergraduate Mathematics and Statistics (BSc MMathStat) (G1G3) - Year 2
• Undergraduate Mathematics and Business Studies (with Intercalated Year) (G1N2) - Year 2
• Undergraduate Mathematics and Business Studies (G1NC) - Year 2
• Undergraduate Mathematics and Business Studies (G1NC) - Year 3
• Undergraduate Master of Mathematics,Operational Research,Statistics and Economics (G300) - Year 2
• Undergraduate Computer and Management Sciences (G5N1) - Year 3
• Undergraduate Computer and Management Sciences (with Intercalated Year) (G5NA) - Year 4
• Undergraduate Mathematics and Statistics (BSc) (GG14) - Year 2
• Undergraduate Mathematics and Economics (GL11) - Year 2
• Undergraduate Mathematics and Economics (with Intercalated Year) (GL12) - Year 2
• BSc Engineering (H112) - Year 3
• BEng Engineering Business Management (HN12) - Year 3
• BEng Engineering Business Management with Intercalated Year (HN17) - Year 4
• Undergraduate Economics 3 Year Variants (L100) - Year 1
• Undergraduate Economics 3 Year Variants (L116) - Year 1
• Undergraduate Economics, Politics and International Studies (LM1D) - Year 1
• Undergraduate Law and Business Studies (MN31) - Year 2
• Undergraduate Law and Business Studies (MN32) - Year 2
• Law and Business Four Year (Qualifying Degree) (MN34) - Year 2
• Undergraduate Law and Business Studies with Intercalated Year (3+1) (MN35) - Year 2
• Undergraduate Law and Business Studies with Intercalated Year (4+1) (MN36) - Year 2
• Undergraduate Law and Business Studies (Qualifying Degree) with Intercalated Year (MN37) - Year 2
• Undergraduate Philosophy, Politics and Economics (V7ML) - Year 1
• Undergraduate Language, Culture and Communication (with Year Abroad) (X3Q6) - Year 2
• Undergraduate Mathematics,Operational Research,Statistics and Economics (Y602) - Year 2