This unit is now known as Accounting in Decision Making ^[1].

Main Aim(s) of the Unit:

The central aim of this module is to build on units covered in Bookkeeping and Finance (Previously Accounting I) to enable students to develop their understanding of accounting principles and practice applied in planning, control and decision making so that they can begin to interpret the information available for their own use and to prepare, organise, summarise and present financial and management information/reports.

Main Topics of Study:

Financial Resources & Business Planning:

• Financial Resources
• The Role of the Accountant

The Construction of Financial Statements:

• Calculating Profits
• Adjustments
• Capital Transactions
• Partnership Accounts
• Company Accounts
• Cash Flow Statements
• Accounts of Clubs & Societies

The Provision of Financial Information:

• Accounting Ratios and Preparing Reports / SSAPs & FRSs

Planning & Decision Making Accounting for Costs:

• Manufacturing Accounts

Further Accounting Issues:

• Control Accounts
• The Trial Balance, Journal & Suspense Accounts
• Incomplete Records
• The Extended Trial Balance
  

Note: This paper follows on from Accounting Techniques (Accounting One), and may appear to repeat some of the syllabus areas covered in Accounting Techniques . The Examiner wishes to point out that any such topics will typically be examined at a higher level in the Accounting in Decision Making (Accounting Two) examination paper. The Examiner also reserves the right to set questions in Accounting in Decision Making on topics from the Accounting Techniques paper.

Learning Outcomes for the Unit

At the end of this Unit, students will be able to:

1. Demonstrate understanding of the interplay between resources and the role of the accountant
2. Explain the construction and application of a variety of financial statements
3. Explain a variety accounting of principles and practice applied in planning, control and decision making
4. Interpret the information to prepare, organise, summarise and present management information/reports.

Learning and teaching  methods/strategies used to enable the achievement of learning outcomes:

Learning takes place on a number of levels through lectures, class discussion including problem review and analysis.  Formal lectures provide a foundation of information on which the student builds through directed learning and self managed learning outside of the class.  The students are actively encouraged to form study groups to discuss course material which fosters a greater depth learning experience.

Assessment methods which enable student to demonstrate the learning outcomes for the Unit:

Examination: 3 hours duration

Indicative Reading for this Unit:

Main Text:
Frank Wood’s Business Accounting 1 - Wood & Sangster (Pitman)

Alternative Texts and Further Reading:
Foundations of Business Accounting - R Dodge (Chapman & Hall) & Sangster (Pitman)

Guideline for Teaching and Learning Time (10 hrs per credit)

50 hours Lectures / Seminars / Tutorials / Workshops:
Tutorial support includes feedback on assignments and may vary by college according to local needs and wishes.

50 hours Directed learning:
Advance reading and preparation / Class preparation / Background reading / Group study / Portfolio / Diary etc

100 hours Self managed learning:
Working through the course text and completing assignments as required will take up the bulk of the learning time.  In addition students are expected to engage with the tutor and other students and to undertake further reading using the web and/or libraries.