Module details for Introduction to Accounting


An introduction to the disciplines of financial and management accounting.


The aim of this Module is to introduce the students to basic financial and management accounting issues.

Learning Outcomes

By the end of this module the student should be able to:

1.  Discuss contemporary financial and management accounting issues.

2.  Draw up summary financial statements for a sole trader.

Indicative Content

1 Introduction to Financial Accounting & Management Accounting

Accounting Theory and Practice: Different branches of accounting. Differences between Financial and Management Accounting.

2 Different Types of Business Organisation

The key concepts in financial accounting and the regulatory framework of financial accounting.

3 Basic Financial Accounting Practice

Production of Income Statement and Balance Sheet for a sole trader including basic adjustments, and financial ratios.

4 Cost behaviour and measuring operational performance.

The classification of costs and revenues and understanding implications of cost behaviour. Using marginal costing to support short-term decision- making. Measuring relevant costs and revenues for decision-making; limiting factors, close-down, make or buy and other short-term decisions. CVP Analysis for a single product.

5 Information for Planning, Control and Decision-making

The budgeting process. Preparation of Cash budgets. Behavioural aspects of budgeting. Sources of management information.

6 Study Techniques

Revising for Exams

Teaching and Learning Work Loads

For session 2020/21 the expectation is that the teaching and learning hours stated in this descriptor will form a mix of synchronous and asynchronous student/staff activity, with the majority of this being online. The exact pattern of this activity is likely to vary from the standard face-to-face hours listed below but the overall student effort remains the same. Up-to-date information on the delivery of the module can be found on the relevant module MLS site and on your student timetable.

Teaching and Learning Method Hours
Lecture 36
Tutorial/Seminar 0
Practical Activity 0
Assessment 60
Independent 104
Total 200

Guidance notes

SCQF Level - The Scottish Credit and Qualifications Framework provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.

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.


We make every effort to ensure that the information on our website is accurate but it is possible that some changes may occur prior to the academic year of entry. The modules listed in this catalogue are offered subject to availability during academic year 2020/21 , and may be subject to change for future years.