International Accounting and Finance Module - Online MSc
Introduction and module objectives
It is hard to imagine any Business Masters Programme without at least an introduction to Finance and and Accounting. This subject is crucial for the early career manager to grasp. Whatever their specialisation junior managers have to interpret and apply financial information in their decision making. This requirement does not mean that all managers have to become accountants, but it does mean that managers have to understand the vernacular of accounting and financial management. Managers cannot discuss the cost and finance implications of activity without an appreciation of the processes, information sources, and methods of presentation of financial information. Managers cannot direct accountants unless they know what to ask for.
In essence, the module aims to give students an appreciation of the perspective and tools available to accounting and finance professionals, and perhaps most importantly the limitations and caveats to the financial information that they can provide.
On completion of the module, students should be able to:
- Explain the role of finance and accounting personal in providing information to managers.
- Interpret and critically appraise the main financial statements: the profit and loss account, the balance sheet and a cash flow statement.
- Apply the understanding of these financial statements in general management decision making.
- Explain the limitations of financial information.
- Understand the impact of cash-flow and it’s management.
- Explain the principles and methods of costing, and how cost information can be used to support decision making.
- Know the main sources of finance for an organisation.
- Explain the role of shareholders.
- Appreciate - in outline - the ways in which accounting practice differs around the world.
- Be able to prepare a profit and loss account, a balance sheet and a cash flow statement.
- Be able to prepare a report on the cost the implications of a management decision.
- On the basis of financial information, to write reports for management and make recommendations.