This module introduces the student to the principles and practices involved in the development of models used in organisational environments. The module will provide, through the advanced use of spreadsheets, an ability to build computer-based business models using management science techniques and interpret the output of these models in order to determine the required policies to address management problems. Students will study the preparation of consolidated financial statements, for simple groups.
This module assesses the value creation activity of organisations through their investment and financing strategies, focusing on finance theories and their application in practice. You will be equipped with the ability to analyse scenarios, case studies and actual companies with respect to financial management. You will also learn to evaluate alternative proposals and to communicate information to a business audience in an effective manner. This module introduces the main concepts and techniques employed by management accountants, and how management accounting fits within the context of the accounting field and in the work place.
Accredited by the Association of Chartered Certified Accountants (ACCA), giving you the maximum nine exemptions from ACCA professional exams. We provide health and wellbeing services, financial guidance and support to develop your study skills.
International & EU entry requirements
Would you play the lottery? Should you buy smartphone insurance? When are car insurance premiums too expensive?
Chat with students studying online bookkeeping and finance, and find out what it’s like to study this subject at uni. Accounting revolves around the reporting and analysis of how money flows in and out of a business, ensuring that regulations are complied with and challenges are avoided. Finance looks more toward assets, liabilities, and future growth. Practitioners of accounting are known as accountants.
Find third party software that works with Xero to improve business efficiency. I chose to do a placement year as I felt it would further enhance my bookkeeping knowledge and help me gain a better understanding of business. The NHS Property Services has provided me with a sense of responsibility, allowing me to take on different tasks and succeed in many ways. It has helped me improve my transferable skills and allowed me to experience different working environments.
As one of the renowned FAME subjects (Finance, what are retained earnings, Management, Economics), a degree in accounting will set you up with a flexible and potentially lucrative career. You’ll learn how to manage a company’s money and ensure that it stays afloat throughout the year.
Its standards are based on double-entry accounting, a method in which every accounting transaction is entered as both a debit and credit in two separate general ledger accounts that will roll up into the balance sheet and income statement. Just as managerial accounting helps businesses make decisions about management, cost accounting helps businesses make decisions about costing. Essentially, cost accounting considers all of the costs related to producing a product. Analysts, managers, business owners and accountants use this information to determine what their products should cost. In cost accounting, money is cast as an economic factor in production, whereas in financial accounting, money is considered to be a measure of a company’s economic performance.
Many graduates also undertake further study, proceeding to a Master’s degree in retained earnings or finance. You will develop a detailed knowledge of the applied aspects of accounting, together with the team-working, problem-solving, communication skills and commercial awareness which companies need in a rapidly changing and complex global business landscape.
He asks his banker to recommend a professional accountant who is also skilled in explaining accounting to someone without an accounting background. Joe wants to understand the financial statements and wants to keep on top of his new business. His banker recommends Marilyn, an accountant who has helped many of the bank’s small business customers. In most cases, accountants use generally accepted accounting principles (GAAP) when preparing financial statements in the United States. GAAP is a set of standards and principles designed to improve the comparability and consistency of financial reporting across industries.
- Maintaining accounting records and preparing financial statements is also often a legal responsibility for businesses above a certain size.
- The ARPL is a coalition of various advanced professional groups including engineers, accountants, and architects.
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- However, lenders also typically require the results of an external audit annually as part of their debt covenants.
- The module continues by considering performance management systems which have been developed to control the implementation of strategic plans.
- Who should make accounting standards?
Managerial accounting uses much of the same data as financial accounting, but it organizes and utilizes information in different ways. Namely, in managerial accounting, an accountant generates monthly or quarterly reports that a business’s management team can use to make decisions about how the business operates.
Book-keeping involves the recording of transactions (e.g. sales, purchases, and expenses) which are then summarized and presented in the form of financial statements which show the overall health of the business. The course provides preparation for a career in accounting by developing both theoretical and practical skills at a professional, or as preparation for research or further study in accounting.
This module covers the regulatory aspects of financial reporting. It will enable you to understand and evaluate financial statements according to international accounting standards. You will be set up to move into working in management or financial accounting jobs in the corporate, public or voluntary sectors.
Following on from the Personal Development module in Year One, you will build and further reflect on your personal and professional skills, attributes and behaviours. You will have the opportunity to participate in part-time work, volunteering, consultancy work, business competitions and challenges, and develop a range of skills to enhance your employability. Accounting and Finance is an integral function within the global business environment. This course enables you to make sense of a range of important real-world issues affecting our everyday lives and improve your decision-making skills in ways that are distinctive to the disciplines of economics.
Through study of the core units you will develop sound knowledge and understanding of accounting practices, financial management techniques, the key and contemporary theories and practices of management and organisational behaviour. The CFA Society of the UK recognises the significant alignment between the Investment Management Certificate (IMC) and the BA (Hons) Accounting and Finance course at Nottingham Trent University. The IMC is the benchmark qualification for the investment profession. This module will further enhance your understanding of tax planning, enabling you to give tax advice to others.
Financial accounting refers to the processes used to generate interim and annual financial statements. The results of all financial transactions that occur during an accounting period are summarized into the balance sheet, income statement, and cash flow statement. The financial statements of most companies are audited annually by an external CPA firm. For some, such as publicly traded companies, audits are a legal requirement. However, lenders also typically require the results of an external audit annually as part of their debt covenants.
Extend your knowledge of financial online accounting by mastering the preparation and analysis of the published financial statements of limited companies operating on their own, or within group structures. You investigate the regulation of financial reporting, the function and content of the main published statements, and problems connected with the treatment of taxation, depreciation, and specific aspects of the asset-expense distinction.