Financial and Management Accounting

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Term 1
SCQF Level
Business, Law and Social Sciences


This module introduces students to financial and management accounting techniques.


The aim of this module is to introduce the student to techniques used in financial and management accounting.

Learning Outcomes

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, statement of financial position and statement of changes in equity

Indicative Content

1 Basic Financial Accounting

Accounting entries for 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.

5 Budgeting

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.

6 Taxation

The impact of taxation on companies, calculating corporation tax.

Teaching and Learning MethodHours
Supervised Practical Activity0
Unsupervised Practical Activity0

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 2023/4, and may be subject to change for future years.