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During this module you will explore, interpret and summarise data, including the use of a statistical computer and mainstream IT software packages. It will introduce you to the theory and applications of probability, as well as sampling, estimation, hypothesis testing and correlation / regression analysis. You will consider themes such as business objectives, strategy and culture together with a focus on key economic concepts such as microeconomics and macroeconomics. The understanding of the wider business context and relevant economic concepts is crucial for accounting and finance students. Focuses on the role and importance of corporate governance and the relationship between shareholders and management; the importance of ethics to society, business and the professional accountant; and introduces the topics of contract law, tort law, agency law, employment law and company and insolvency law.

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.

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.

With the development of joint-stock companies, bookkeeping split into financial accounting and management accounting. At his first meeting with Marilyn, Joe asks her for an overview of accounting, financial statements, and the need for accounting software. Based on Joe’s business plan, Marilyn sees that there will likely be thousands of transactions each year. She states that accounting software will allow for the electronic recording, storing, and retrieval of those many transactions. Accounting software will permit Joe to generate the financial statements and other reports that he will need for running his business.

The module provides students with a series of academic skills and study strategies which will underpin their subsequent studies. The module is composed of several themes which will include communication, thinking and methods of enquiry, IT-literacy, numeracy and the nature online bookkeeping of knowledge. These will allow students to effectively match problem-solving techniques to a range of differing scenarios. In doing so, students will be expected to operate in teams, reflect on their practice and recognise aspects for self-development and improvement.

You can follow pathways into accountancy via the main professional bodies in the UK, and bypass some of the foundation level examinations needed for qualifying as an accountant. This module will give you a deeper and more integrated understanding of how management accounting theory and practice can help management teams make decisions of strategic importance.

accounting

This module is designed to bring together, and build on prior module knowledge using concepts, issues and current theory in respect of accounting and finance and in the process develop a more critical understanding of these issues using current and past research. This module will enable students to research employment in accounting and finance and to develop an action plan to help them secure eventual employment.

Accounting is a reliable process for recording, organizing and analyzing financial information which helps in the effective management of the business. Management accounting , also known as managerial accounting, provides information to management for analysis, decision making, planning and control of the business.

  • The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company’s operations, financial position, and cash flows.
  • Financial Statements help owners in assessing the performance and position of their business which can guide their investment decisions (e.g. whether they should invest more in the business, diversify or dispose their investment).
  • This module will enable students to research employment in accounting and finance and to develop an action plan to help them secure eventual employment.
  • You can develop your career in the private or public sector, and the course will help your progression to professional qualifications.
  • However, we have a flexible approach to admissions and each application will be considered on an individual basis.
  • 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.

The Department of what are retained earnings combines global appeal with a distinctive European orientation in terms of institutional knowledge and affiliations, as well as intellectual traditions. Alongside this, the department continues to enjoy a reputation as one of the leading groups in the world for teaching and research on the economic, institutional and organisational aspects of accounting and financial management. Combine modules towards OU qualifications, or study individually for interest or professional development. You’ll need to undertake professional training after your degree, if you want to become a chartered accountant. This isn’t necessary for all financial jobs, but the accredited recognition of accountancy comes from ACCA, ACA, or CIMA.

Other financial support

The module deepens students’ prior knowledge and understanding of management retained earnings focuses on the role of the management accountant within the strategic planning process. Making use of relevant literature and case studies, the module explores strategic planning in the context of the management accounting information required to support this process.

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 accounting 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.

We now offer five Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Working Capital and Liquidity, and Payroll Accounting. Click here to learn more. By getting into the habit of entering all of the day’s business transactions into his computer, Joe will be rewarded with fast and easy access to the specific information he will need to make sound business decisions. Marilyn tells Joe that accounting’s “transaction approach” is useful, reliable, and informative.

Throughout your career you’ll likely need to make use of a wide variety of quantitative techniques, particularly those related to online accounting, finance and management. In this module you’ll revise your previous maths knowledge whilst also considering the time value of money, rates of change, probability and statistics and making extensive use of Excel for applying statistical techniques. You also study the financial system, instruments and markets and ideas about finance concepts and problems.

This module is designed to give you a deeper knowledge of theory and practice in the key aspects of corporate finance, and allows you to explore how various aspects of corporate finance are interrelated. You will assess the impact of financial decisions with respect to investments, financing and the management of risk and develop skills in critical analysis and evaluation. The areas you will study include financial strategy, investment appraisal and decisions, valuation of the firm, equity and debt valuation, merger and acquisitions and risk assessment and management including risk theory, interest rate and foreign exchange risk. This module will develop your technical accounting knowledge whilst contextualising it within a broader regulatory framework. You will study the role of financial reporting and its use to stakeholders and the application of accounting standards in the preparation of financial statements.

You receive guidance on your academic progress, as well as your personal and professional development. These sessions offer you the opportunity to meet and develop networks and connections within the School and provide key support throughout your first year by helping you to develop the skills and learning strategies needed throughout your degree.

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