SHE Level 1
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M1N125756
Module Leader Stuart McChlery
School Glasgow School for Business and Society
Subject Finance and Accounting
  • A (September start)

Summary of Content

This module seeks to introduce accounting students to fundamental aspects of both financial and management accounting to provide a foundation for further study. In regard to financial accounting the module will cover bookkeeping processes which will underpin financial accounting standards and financial statements preparation. Those students seeking a career in accounting are required to know the mechanics of recording basic accounting information before applying accounting standards to more complicated scenarios. The module will also apply fundamental management accounting principles to a number of non-complex business situations and use computer software as an aid to this process. Major topics include: cost classification and behaviour, cost-profit-volume analysis, and budgeting.


Historical development of accounting - from Mesopotamia to 21st century Historical development of the accounting and auditing professions The nature and objectives of financial accounting, accounting concepts, bases & policies The accounting equation Double entry bookkeeping system Journal Entries End of period adjustments: bad debts & provisions; depreciation & non-current asset disposal; accruals & prepayments Preparation of Accounts for sole-traders The trial balance - both errors affecting and not affecting its balancing Bank reconciliation statements Introduction to management accounting its functions and scope Cost classification for alternative uses Cost behaviour and cost-profit-volume analysis Budgeting

Learning Outcomes

On successful completion of this module, the student should be able to:1. Explore the history of accounting, including the relationship between bookkeeping & accounting2. Maintain & reconcile accounting records3. Demonstrate a broad knowledge of Management Accounting in general and of its scope, concepts and principles4. Assess how costs behave in regard to cost profit volume analysis5. Apply budgeting principles to business planning scenarios including the use of excel software package

Teaching / Learning Strategy

Lectures are used to introduce concepts and techniques. Seminars provide a forum for students to discuss concepts, but mainly to attempt practical application of the techniques. Labs provide the opportunity for students to gain experience of a widely used accounting software package. GCU Learn is used to support learning activities. GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCU Learn to ensure student support and information sharing.

Indicative Reading

Drury, C. (2018) Management and Cost Accounting, 10th edition, Cengage Learning Wood, F. & Sangster A ( latest edition ) Business Accounting 1, FT Prentice Hall Supporting: Weetman, P. (latest edition) Financial Accounting: An Introduction, FT Prentice Hall Benedict, A. & Elliott, B. (latest edition) Financial Accounting: An Introduction, FT Prentice Hall Thomas, A. & Ward, A.M. (latest edition) Financial Accounting, McGraw Hill Thomas, A. (latest edition) Introduction to Financial Accounting, McGraw Hill Seal W, Garrison RH, Noreen EW. (2015) Management Accounting, 5th edition, McGraw Hill. Bhimani A., Horngren, C.T, Srikant M. Datar, S.M and Madhav Rajan, M., Management and Cost Accounting, 6th Edition, Pearson Online sources: My Accounting Lab Online sources: As provided by publisher in core textbook

Transferrable Skills

By the end of this module students will have gained competence in the following key areas: Analytical skills ICT skills: excel Professional/practical skills Personal development skills and enterprise or business skills Applying basic and routine skills and techniques associated with management accounting Use a range of forms of communication effectively and convey ideas in a well-structured and coherent form. Exercise initiative and independence in carrying out defined activities

Module Structure

Activity Total Hours
Lectures (FT) 30.00
Independent Learning (FT) 132.00
Seminars (FT) 12.00
Assessment (FT) 20.00
Practicals (FT) 6.00

Assessment Methods

Component Duration Weighting Threshold Description
Exam (Exams Office) 2.00 70.00 35% 2 hour formal iunseen exam
Course Work 01 n/a 30.00 35% IT Lab Portfolios (management accounting)