SCQF Level: 07
Module Code: ANF103
Credit Value: 20
Term: Term 2
School: Dundee Business School
This module provides the student with the opportunity to understand the roles of financial and management accounting in a business environment.
The aim of this module is to introduce the student to techniques used in financial and management accounting.
By the end of this module the student should be able to:
1. Account for material and labour costs and understand basics of pricing, budgeting and taxation.
2. Record financial transactions in a double-entry bookkeeping system, extract a trial balance and prepare income statement and balance sheet.
1 Basic Financial Accounting
Double-entry bookkeeping. Internal Control: errors ¿ their prevention, detection and correction; accounting ledger systems, trial balance, suspense accounts and journals.
2 Incomplete Records
Preparation of final accounts of a limited company from incomplete records, and prepare bank reconciliation statement.
3 Accounting for Costs
Accounting for material: FIFO, LIFO, Weighted Average. Accounting for labour: labour costs, idle time, incentives and labour turnover.
4 Pricing methods and pricing decisions
Cost plus, target costing, price skimming, penetration pricing
The context of budgets. Approaches to budgeting. Interpreting and acting on budgets. Preparation of functional budgets from given data. Budgeting and performance analysis in not-for-profit organisations and the public sector
The impact of taxation on companies, calculating corporation tax.
Statement on Teaching, Learning and Assessment
Class contact takes the form of interactive lectures and tutorials with students engaged in enquiry based learning for a minimum of 60% of their class time. Tutorials will engage students in enquiry based activities developing their skills in accounting and finance issues. Tutorials will be interactive and students will be encouraged to work together.
Teaching and Learning Work Loads
|Supervised Practical Activity||0|
|Unsupervised Practical Activity||0|
Credit Value – The total value of SCQF credits for the module. 20 credits are the equivalent of 10 ECTS credits. A full-time student should normally register for 60 SCQF credits per semester.