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Accounting and Finance for Managers

MODULE AIMS AND OBJECTIVES

The module examines the accounting and finance processes that result in the preparation and production of accounting reports for external use (annual reports), and the meaning and analysis of such reports.

The module will allow participants to  analyse and interpret the information within financial reports and be able to identify and critically appraise the theoretical and regulatory framework for financial reporting in an international context.

Participants will also apply accounting and financial information in a variety of decision-making and planning situations and critically evaluate the use and applications of various models.

Participants will develop skills to assess accounting information needs and appreciate the ways in which accounting information is used and their role in the management of organisations.

No previous accounting and finance knowledge is required for this module.

LEARNING OUTCOMES

Upon completing the module successfully, students will be able to:

• Identify and analyse key financial reporting documents, the information they contain and the potential users and uses of that information.

• Analyse and interpret the information within financial reports in the context of existing regulatory framework of accounting and relevant accounting theory.

• Apply accounting and financial information in a variety of decision-making and planning situations and explain the limitations of such information.

• Outline the nature and characteristics of the alternative sources of finance available to an organisation.

• Discuss the theoretical and practical aspects of investment and other financial management decisions both inside and outside of organisations.

ASSESSMENT

The module assessment is by an examination comprising of 100% of the assessment weighting.

The module will be assessed by an online examination in January 2022.

LECTURES

Lectures will be delivered face-to-face using synchronous study support using lectures, seminar discussions and Q & A sessions.

In addition there will be asynchronous, non- interactive content with guided reading, including case studies.         

Discussions and interactive activities will encourage participants to critically examine accounting and finance issues relating to management.

Students will be encouraged to think critically, formulate arguments and enter into debate over issues concerning international accounting and finance and the implications for managers.

ELECTRONIC RESOURCES

Please use the MN7403 site on Blackboard to access lecture slides, reading materials, seminar preparation work, assessment documents, important announcements and other student resources.

LECTURE PROGRAMME

**The Essential Reading is from the core text:McLaney, Eddie. Atrill, Peter. 2017., Accounting and Finance: An Introduction 9th edition. Pearson Education Limited.

Available online on University of Leicester Digital Library)

McLaney, Eddie, and Peter Atrill. Accounting and Finance: An Introduction 9th edition, Pearson Education Limited, 2017. ProQuest Ebook Central, https://ebookcentral.proquest.com/lib/leicester/detail.action?docID=5481311.

WEEK 1

Introduction: Overview of module;

Introduction to Financial Accounting;

Overview of financial statements and their users

The Income Statement (Profit and Loss account);

Learning Outcomes

  • Explain the nature and roles of accounting and finance
  • Identify the main users of financial information and discuss their needs
  • Explain the nature and purpose of the three major financial statements
  • Understand the key aspects of the Income Statement (Profit and Loss Account)
  • Discuss the Accounting principles and conventions underpinning financial accounting

Readings**

Chapter1: Introduction to Accounting and Finance (pp.1 – 36;

Chapter 3: Measuring and Reporting Financial Performance (pp.82 – 88).

WEEK 2

The Objectives of Financial Reporting;

Statement of Financial Position (Balance Sheet)

The Balance Sheet Equation; Fundamental Accounting Principles;

Cash flow statement (overview)

Fixed Assets & Depreciation.

Learning Outcomes

  • Identify the main users of financial information and discuss their needs
  • Understand the key components of the  Statement of Financial Position (Balance Sheet)
  • Discuss the Accounting principles and conventions underpinning financial accounting

Readings**

Chapter 2:Measuring and Reporting Financial Performance (pp.39 – 59)

Chapter 3: Measuring and Reporting Financial Performance (pp.96 – 103)

WEEK 3

Creative Accounting

Agency Theory;

Creative Accounting & Earnings Management:

Examples; Implications for Financial Analysis

Case studies and examples.

Learning Outcomes

  • Outline the main the Objectives of Financial Accounting
  • Apply the principle of Agency Theory
  • Explain and discuss the motivations for Creative Accounting and techniques of such practices
  • Critically discuss the ethical and moral issues relating to the preparation, reporting and use of financial reports

Readings**

Chapter 2:Measuring and Reporting Financial Performance (pp.64 -74)

Chapter 3: Measuring and Reporting Financial Performance(pp.104 -106)

Chapter 5: Accounting for Limited Companies(pp.190-197)

Mary E. Barth, (2018) “The Future of Financial Reporting: Insights from Research”, ABACUS (A Journal of Accounting, Finance and Business Studies), Vol.54, No.1, 2018.

(Read: pp 66-67; p. 72; pp 75-76).

WEEK 4

Ratio Analysis and Interpretation of Accounts:

Introduction to ratio analysis;

Case Study: Air China

Learning Outcomes

  • Identify the major components of financial statements of a listed company
  • Identify major categories of ratios for the analysis of financial statements
  • Calculate key ratios for assessing the financial performance of companies
  • Explain and discuss the use of ratios in helping to predict financial failure
  • Critically discuss the limitations of ratios as a tool of financial analysis

Readings**

Chapter 7: Analysing and Interpreting Financial Statements (pp.236 – 272)

WEEK 5

Ratio Analysis and Interpretation of Accounts:

Practice Examples for ratio analysis;

Limitations of Ratio Analysis

Learning Outcomes

  • Identify the major components of financial statements of a listed company
  • Identify major categories of ratios for the analysis of financial statements
  • Calculate key ratios for assessing the financial performance of companies
  • Explain and discuss the use of ratios in helping to predict financial failure
  • Critically discuss the limitations of ratios as a tool of financial analysis

Readings**

Chapter 7:Analysing and Interpreting Financial Statements (pp.281 -283)

WEEK 6

The Use of Accounting information in Marketing Decisions:

Cost Behaviour;

Break-Even and Contribution analysis;

Limitations of the models

Learning Outcomes

  • Distinguish between fixed and variable cost and use this distinction to explain the relationship between cost, volume and profit
  • Demonstrate how marginal cost analysis can be used when making short term decisions
  • Discuss the limitations of break-even analysis
  • Explain the principles of operational gearing and discuss the implications of high levels of operating gearing for companies

Readings**

Chapter 9: Cost-volume- profit analysis (pp.324 -361)

WEEK 7

Strategic Investment Decisions I:

Capital investment appraisal techniques:

Payback period;

Accounting Rate of Return;

Introduction to Discounted Cash flow techniques

Learning Outcomes

  • Understand the importance of the Capital Investment Decision
  • Consideration of the various approaches used to assess investment projects
  • Understand the concept of Time Value of Money

Readings**

Chapter 14: Making Capital Investment Decisions (pp.563 – 575)

WEEK 8

Strategic Investment Decisions II:

Capital investment appraisal:

Discounted Cash flow techniques:

Net Present Value;

Internal Rate of Return;

Limitations of Capital Investment techniques

  • Explain the approaches of Net Present Value (NPV) and Internal Rate of Return (IRR)
  • Discuss the limitations of the techniques of Capital Investment Appraisal

Readings**

Chapter 14: Making Capital Investment Decisions (pp.576 – 596)

WEEK 9

Sources of Finance:

External and Internal sources of finance

Types of Equity and Debt sources of finance;

Benefits and problems of using debt and equity sources;

Learning Outcomes

  • Outline the nature and characteristics of alternative sources of finance available to an organization.
  • Discuss Benefits and Problems of the major sources of finance of debt and equity.
  • Discuss the factors that need to be taken into account when choosing the most appropriate sources of finance.
  • Discuss how different the levels of gearing affect the level of risk and returns to ordinary shareholders.

Readings**

Chapter 15: Financing a Business (pp.614 – 635)

Chapter 15: Financing a Business (pp.642 – 647)

WEEK 10

Review & Revision of module

Examination format and guidance

SEMINARS

The expectation is that all students will prepare in advance of each seminar, having completed all the required reading and any specified preparatory work in relation to questions set.

Seminars are designed as interactive, guided independent learning spaces where the major contribution / discussion is provided by students.

For this module you will have SIX one-hour seminars as follows:

(Please refer to Blackboard for the Seminar Questions)

SEMINAR Week beginning Seminar topic
     
1 25.10. 2021 Users of financial statements; Introduction to financial statements.
  01.11.2021 No seminars in this week
2 08.11.2021 Objectives of financial reporting; Creative accounting.
     
3 15.11.2021 Ratio Analysis and Interpretation
     
4 22.11.2021 The use of Accounting information in marketing decisions:Cost Behaviour; Break-Even and Contribution analysis
     
5 29.11.2021 Capital Investment Appraisal
     
6 06.12.2021 Ratio Analysis and Interpretation

READINGS

Essential

The core text will be used in conjunction with the lectures and seminars.

McLaney, Eddie. Atrill, Peter. 2017., Accounting and Finance: An Introduction 9th edition. Pearson Education Limited.

Available online on University Digital Library:

McLaney, Eddie, and Peter Atrill. Accounting and Finance: An Introduction 9th edition, Pearson Education Limited, 2017. ProQuest Ebook Central, https://ebookcentral.proquest.com/lib/leicester/detail.action?docID=5481311

Additional Reading

Alexander, D., Britton, A., Jorissen, A., Hoogendoorn, M., & Van Mourik, C., (2017), International Financial Reporting and Analysis (7th Ed), Cengage Learning.

Mary E. Barth, (2018) “The Future of Financial Reporting: Insights from Research”, ABACUS (A Journal of Accounting, Finance and Business Studies), Vol.54, No.1, 2018.

Collier, Paul M., (2015) Accounting for Managers: Interpreting accounting information for decision making (5th Ed), Wiley.

Alexander, D., Britton, A., Jorissen, A., Hoogendoorn, M., & Van Mourik, C., (2017), International Financial Reporting and Analysis (7th Ed), Cengage Learning.

Dyson, John R., (2010) Accounting for non-accounting students (8th Ed), FT Prentice Hall

Elliott, B and Elliott, (2019), Financial Accounting and Reporting, (19th Ed), FT Prentice Hall. (Available online)

Jones, M, (2002) Accounting for Non-Specialists, Wiley.

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