At the end of this module, participants will have developed:(a) an ability to interpret financial statements and to understand how managerial decisions are made;(b) an understanding of how accounting interacts with other key business functions;(c) an awareness of the evolutionary nature of accounting information systems and of the changing role of the accountant, in relation to management within the firm;(d) through the use of interactive case study teaching methods, transferable verbal and written reasoning, communication and presentation skills will be imparted, practised and explicitly assessed.
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1.Introduction to Accounting Information Systems:Nature, uses and limitations of accounting information. Financial accounting and management accounting information systems - roles of each of these and their inter-relationship. Accounting in the context of the internal and external environment. Management accounting and competitive strategies. Managers as (internal) customers of accounting information, hence the need for accounting techniques to assist cost management, planning and decision making and performance management.2.Financial Statement Analysis.The annual report. The audit report. Directors and Corporate governance. Primary financial statements. Cash flow and how it differs from profit. Exercises in the use of financial statement analysis using ratios. Critique. International corporate governance and international accounting issues; relationship between accounting information, share price and company performance.3.Planning and Decision Making.Long-term and short-term planning. Translating strategy into financial plans. Financial analysis in typical decision-making situations including pricing decisions. Cost-Volume Profit Analysis and Break-Even - simple calculations. International research findings - practical implications.4. Performance Management and Measurement.Operational control, management control and strategy. The role of budgets. Master Budget and Cash Budgets. Practical examples. Current notions of performance measurement. Critique of the profit measure and the need for alternatives such as non-financial measures, critical success factors and the balanced scorecard. Performance measurement for various sectors, such as service, retail and manufacturing, using relevant examples. Sectoral or industry-based factors versus firm-dependent factors impacting on performance measurement and management. International research findings - practical implications.5. Current Issues and Future Directions.Criticisms, challenges and the evolutionary nature of accounting information systems. How the changing role of the accountant, as information provider, affects the management of the firm.
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Recommended Reading: Atrill, P. and Mc Laney, E. (2002) (A), 'Financial Accounting for Non-specialists' 3rd edition, Essex: Pearson Education Limited. Supplementary Reading:Atrill, P. and Mc Laney, E. (latest) (B), 'Management Accounting for Non-specialists' 3rd edition, Essex: Pearson Education Limited.Barker, R. (2001), 'Determining Value : Valuation Models and Financial Statements' Essex: Pearson Education Ltd.Gernon, H. and Meek, G.K. (2001), 'Accounting: an International Perspective' 5th edition, McGraw Hill.Horngren, C.T., Datar, S.M., Foster, G. (latest), 'Cost Accounting, A Managerial Emphasis' 11th edition, New Jersey : Upper Saddle River, Prentice Hall Jones, M. (2002), 'Financial Accounting for non-specialists' Wiley.Nobes, C. and Parker, R. (2004), 'Comparative International Accounting' 7th edition, Financial Times, Prentice Hall.O' Regan, P. (2001), 'Financial Information Analysis' Chichester, John Wiley and Sons. Rutterford, J. (1998), 'Financial Strategy: Adding Shareholder Value' Wiley, The Open University Business School.Walsh, C., (2003), 'Key Management Ratios' 3rd edition, Financial Times, Prentice Hall.Weetman, P. (latest), 'Financial and Management Accounting : An Introduction' 2nd edition, Essex: Pearson Education Ltd. Relevant articles and cases.
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