Elements of Accounting, Financial Institutions and Financial Management

This information is for the 2014/15 session.

Teacher responsible

Mrs Chrisoulla Constantinou OLD3.31, Dr Yasmine Chahed OLD3.30, Prof Richard Macve OLD3.11 and Mr Ahmed Abdalla OLD 2.15


This course is available on the BSc in Actuarial Science and BSc in Statistics with Finance. This course is not available as an outside option nor to General Course students.

Course content

Financial accounting section:

Financial accounting: role, nature, scope and limitations of accounting conventions. Regulatory accounting framework. Financial statements: construction, use and interpretation. Group accounting. Legal and economic considerations including elements of taxation. Extending the scope of financial reporting (eg inflation accounting and reporting, approaches to equity maintenance, etc).


Management Accounting and Financial Management sections:

Introduction to managerial accounting and financial management. The design, use and role of accounting information in the management and control of organisational activities. Costing and budgeting. Financial institutions and sources of financing.  The accounts of insurance companies and pension funds. Financial evaluation of decisions in the shorter and longer terms. The design and use of performance measurement systems. Accounting for environmental impacts.


20 hours of lectures and 9 hours of classes in the MT. 20 hours of lectures and 10 hours of classes in the LT. 1 hour of lectures and 1 hour of classes in the ST.

Formative coursework

Written answers to numerical problems and discussion questions will be expected weekly; two pieces of work per term will be collected during classes for marking and feedback.

Indicative reading

Detailed reading lists will be made available at the beginning of the course. Illustrative texts include Peter Atrill and Eddie McLaney Financial Accounting for Decision Makers, 7th edn, Financial Times, Prentice Hall, 2013; Peter Atrill and Eddie McLaney Management Accounting for Decision Makers, 6th edn, Financial Times, Prentice Hall, 2009); Levinson, M The Economist Guide To Financial Markets (5th edition).


Exam (100%, duration: 3 hours and 15 minutes) in the main exam period.

Key facts

Department: Accounting

Total students 2013/14: 6

Average class size 2013/14: 2

Capped 2013/14: No

Lecture capture used 2013/14: No

Value: One Unit

Guidelines for interpreting course guide information

PDAM skills

  • Self-management
  • Team working
  • Problem solving
  • Application of information skills
  • Communication
  • Application of numeracy skills
  • Specialist skills