Handbook 1920AFIBsg PDF

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MODULE:

ACCOUNTING AND FINANCE IN BUSINESS

MODULE CODE:

ECON1041

Module Handbook 2019/2020 PLEASE RETAIN THIS HANDBOOK FOR FUTURE REFERENCE. IT MAY BE REQUIRED FOR SUBMISSION TO PROFESSIONAL BODIES WHEN APPLYING FOR EXEMPTION FROM EXAMINATIONS.

Contents

Contents......................................................................................................................................1 Teaching Staff............................................................................................................................2 Module Information...................................................................................................................2 Teaching Methods and Contact Hours.......................................................................................3 Teaching Material and DUO......................................................................................................3 Formative Assessment................................................................................................................3 Summative Assessment..............................................................................................................4 Assessment Criteria....................................................................................................................4 Seeking Help..............................................................................................................................4 Detailed Syllabus.......................................................................................................................5 Reading List...............................................................................................................................7 General Reading.........................................................................................................................8 Detailed/Essential Reading......................................................................................................10 Other Information.....................................................................................................................12 Guide to the module DUO site.................................................................................................12

NB This handbook is intended for the guidance of students taking this module in 2019/2020. Whilst the details contained in this handbook represent teaching staff intentions at the time of writing, it is in the nature of higher education that some module information, such as syllabus and reading lists, may be subject to modifications during the teaching of a module. Teaching staff reserve the right to make such minor changes in the matters covered by this publication and will endeavour to publicise any such changes as widely, and as much in advance, as possible.

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Teaching Staff

Module leader: Other tutors:

Anne Hall Stuart Green

[email protected] [email protected]

The lecturers may be contacted during their scheduled consultation hours for which no prior appointment is required. Details of these hours will be posted on DUO. On urgent matters outside these times, you can arrange an appointment, preferably by email. Should you have an urgent problem and the module leader is not available, please contact the Undergraduate Office. Staff will communicate with you via announcements in lectures and classes, e-mails and the announcement board on DUO. You should check your e-mail and DUO regularly, possibly once a day but at least every 2 days. If you wish to communicate with fellow students on matters relating to the module, you may ask your lecturer/tutor to make an announcement at the beginning/end of a lecture or class. Alternatively, you may send group e-mails via DUO, or individual emails. You will have an opportunity to comment on the module via the student module evaluation questionnaire, which will be made available towards the end of the module.

Module Information Details of the Module Outline, Prerequisites, Co-requisites, Overall Aim(s) of the module, Learning Objectives, including details of key skills this module will help students to acquire are available at the link given below: http://www.dur.ac.uk/faculty.handbook/module_description/? year=2019&module_code=ECON1041

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Teaching Methods and Contact Hours This module requires 200 hours of study. This includes a combination of lectures, seminars and independent study as follows: Activity

Numbe r

Frequency

Duration

Total Hours

Lectures

40

2 per week

1 hour

40

Seminars

8

4 per term in terms 1 & 2

1 hour

8

Revision sessions

4

2 per revision week in term 3

I hour

4

Preparation and Reading

148

Total

200

Seminar classes will be based around worksheets, which will be available on DUO in advance of the seminar. Please note that attendance at seminars is compulsory and is closely monitored. Students will be allocated to seminar groups at the start of term.

Teaching Material and DUO Extensive use will be made of the DUO (Durham University On-line) on-line learning support system. Copies of lecture notes and other teaching material will be made available for downloading from DUO in advance of the relevant lecture, and you are recommended to make use of this facility. Further information on the material available on DUO is available at the end of this Handbook. You should consult the module entry on DUO at least every 2 days.

Formative Assessment The main aim of the formative assessment is to help you, in a structured way, to understand the material and its applications, consolidate your knowledge and further develop relevant skills. They do not count towards the overall mark for the module but are compulsory. The formative assessment for this module will consist of three on-line MCQ tests. 3

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Formative Multiple Choice Tests Multiple choice tests relating to each of the three main areas of the module will be made available under the ‘Assignments’ page on DUO. The tests are intended to provide formative feedback on your progress with the module material. Each test is available for a period of 5 days.

Summative Assessment The summative assessment constitutes the formal assessment of a student’s performance on the module. Summative assessment will take the form of an unseen written examination to be taken in May/June. Further guidance can be found in the Programme Handbook on information such as assessment criteria and grade descriptors.

Assessment Criteria Performance in the formative and summative assessments for this module is judged against the following criteria: 

Relevance to question(s)



Organisation, structure and presentation



Depth of understanding



Analysis and discussion



Use of sources and referencing



Overall conclusions

Seeking Help You should always feel welcome to talk to staff whenever you wish to discuss any aspect of the module. Please do keep in touch with us. A small misunderstanding can turn into a big problem if it is not dealt with in a timely manner. The first port of call for any queries relating to your understanding of the material and study skills should be your module tutor. You should however feel free to get in

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touch with any of the relevant lecturing staff, especially for queries relating to the module outline, lecture material and readings. If you have serious problems that relate more generally to your studies across this and other modules please see the Programme Handbook for guidance. In serious cases, you should normally see the Course Director without delay. However, full details of the support mechanisms that are in place are available in the Programme Handbook.

Detailed Syllabus Term 1 Lectures

Lecture topic FINANCIAL ACCOUNTING

1a

An introduction to the module and to financial statements

1b

The Statement of Profit or Loss & introduction to the Balance Sheet

2a

Further exploration of the Balance Sheet. Accounting conventions

2b

Construction of financial statements using the dual effect

3a

Accounting for non-current assets

3b

Interpreting the statement of financial performance

4a

Financing a limited company. Associated ratios

4b

Assessment of liquidity and efficiency

5a 5b

Investor ratios and the annual report Refining presentation in and understanding of the statement of financial performance

6a

Accruals and prepayments

6b

The impact of judgement on accounting for assets

7a

Cashflow and profit

7b

1a

The regulatory framework and creative accounting MANAGEMENT ACCOUNTING Introduction to Management Accounting. Cost classification and Cost behaviour

1b

Marginal costing and CVP analysis 5

2a

Determining cost behaviour

2b

Further applications of contribution analysis

3a

Further applications of contribution analysis (scarce resource) Standard costing. Dealing with overheads and comparison of costing methods.

3b Term 2 Lectures

Lecture topic

4a

Accounting for overheads: Absorption costing

4b

Accounting for overheads: Activity-based-costing (ABC)

5a

Introduction to the budgetary system. The planning phase

5b

The cash flow forecast

6a

The control phase: variance analysis

6b

Basic control reports. Flexed budgets Management and the budgetary system. Reports, investigation and the psychology of budgets

7a 7b

Review of Management Accounting FINANCE

1a

Introduction to finance and financial management

1b

Working capital and the operating cash cycle

2a

Working capital and the operating cash cycle (continued)

2b

Sources of finance

3a 3b

Investment appraisal: the time value of money and net present value Investment appraisal: payback period, discounted payback period, accounting rate of return

4a

Risk in investment appraisal

4b

Investment appraisal: internal rate of return

5a

Introduction to equity financing

5b

Ordinary shares and dividend decisions

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6a

The role of stock markets

6b

Corporate governance and ethics in finance

Reading List Private study of recommended reading material is an integral part of the module. The table on page 10 identifies the essential reading for each topic, which is contained within the core textbook. Essential readings are primarily intended to reinforce your understanding of the core lecture material. Notice of further items of recommended reading may be posted on DUO during the course of the module. Core Textbook You are advised to buy the following textbook: Atrill, P. and McLaney, E, Accounting and Finance for Non-Specialists,11 h edition, publisher Pearson, ISBN 978-1-292-13560-1

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General Reading This section lists additional resources intended to broaden and deepen your understanding. In all cases you should consult the most recent edition available.

Accounting: Text bo ks 8

Digitised chapters The following chapters from texts listed above have been digitised and may be accessed via the library resources tool on DUO. “Analysing and interpreting financial statements” chapter 6, Accounting and Finance for Non-Specialists, 8 th edition, 2013 McLaney, E. and Atrill, P. “How the stock market assesses company performance” chapter 5, Leiwy, L. and Perks, R., Accounting Understanding and Practice 4th edition, 2013 “An introduction to cost terms and concepts” chapter 2, Management Accounting for Business, 5th edition, 2013, Drury, C., “The role of accounting in business” chapter 1, Business Accounting and Finance, 3rd edition, Gowthorpe, C. “Cost behaviour: analysis and use” chapter 3 Seal, W. et al, Management Accounting 5 th edition, 2015 “Working capital management” chapter 16 Business Accounting and Finance, 2012, Davies, T. and Crawford, I.

Finance: Text books Davies, T. and Crawford, I. Business Accounting and Finance McLaney, E. and Atrill, P., Accounting; an Introduction McLaney, E.J., Business Finance Theory and Practice Watson, D. and Head, A., Corporate Finance: Principles and Practice,

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Detailed/Essential Reading Details of essential reading to support the lectures are drawn from the core text Atrill, P. and McLaney, E, Accounting and Finance for Non-Specialists, 11 th edition, as follows:

Term 1 Lectures

Lecture topic FINANCIAL ACCOUNTING

1a

Chapter 1

1b

Chapter 3 to page 83

2a

Chapter 2, pages 33 - 38, 44 - 57

2b

Chapter 2, pages 29 - 33, 42 - 44

3a

Chapter 2, pages 58 - 62, chapter 3, pages 89 - 97

3b 4a

Chapter 6, to page 201, 204 - 208 and page 233 Chapter 4 to page 119, 125 - 128, chapter 6 pages 202 & 203, 214 216 and 219 - 224

4b

Chapter 6, page 208 - 212, 216 - 219

5a

Chapter 4, pages 148 - 150 and chapter 6, pages 224 - 232

5b

None specified

6a

Chapter 3, pages 83 - 88

6b

Chapter 3, pages 98 - 108

7a

Chapter 5

7b

Chapter 4, pages 145 - 147, 150 - 152 MANAGEMENT ACCOUNTING

1a

Chapter 1, pages 11 - 16, chapter 7, pages 252 - 257

1b

Chapter 7, pages 257 - 270

2a

Chapter 7, pages 252 - 257

2b

Chapter 7, pages 270 - 272, 275 - 279 10

3a

Chapter 7, pages 273 - 275

3b

Chapter 8, pages 285 - 294

Term 2 Lectures

Lecture topic

4a

Chapter 8, pages 294 - 307

4b

Chapter 8, pages 308 - 319

5a

Chapter 9, pages 327 - 338

5b

Chapter 9, pages 339 - 342

6a

Chapter 9, pages 345 - 353

6b

Chapter 9, pages 345 - 353

7a

Chapter 9, pages 353 - 355

7b

None specified FINANCE

1a

Chapter 1, pages 1 - 2, 16 - 24

1b

Chapter 12, pages 456 - 496

2a

Chapter 12, pages 456 - 496

2b

Chapter 11, pages 408 - 432

3a

Chapter 10, pages 366 - 368, 386 - 387, 392 - 399

3b

Chapter 10, pages 370 - 379

4a

Chapter 10, pages 366 - 367, 392 - 399 and page 386

4b

Chapter 10, pages 387 - 392

5a

Chapter 4, pages 134 - 137, chapter 11, pages 408 - 409, 433 - 438

5b

Chapter 4, pages 140 - 142, chapter 11, pages 433 - 438

6a

Chapter 4, page 120, chapter 11, pages 433 - 447 Chapter 4, pages 123 - 124, 145 - 153

6b 11

Other Information Past Examination Questions Copies of the examination papers for recent years may be accessed on-line through DUO.

Guide to the module DUO site

Announcement s Course Information

Staff Contacts Course Documents

Assessment Communication

External Links Tools Books

- Announcements on the availability of information on timetable for revision classes, etc. - Module handbook - Guide to Reducing Printing Costs - Delivery Systems, including information on lectures and seminars - Frequently Asked Questions - Staff contact details - Lecture slides - Seminar questions - Seminar outline answers [made available after the relevant class has taken place] - Summative assessment information - Formative multiple choice tests - Email - Announcements - Group pages - Links to University Library home page and to JSTOR - Departmental link - Faculty Handbook; Module Evaluation [not yet operational]; Reserve Reading Materials; Search; Timetable; User Manual - Information on recommended textbooks

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