Financial and Management Accounting for Strategic Carbon Management

Description

This module examines the design and use of accounting information prepared by organisations in both the public and private sectors. It is an introductory course for students with differing prior knowledge and backgrounds. Throughout the unit, the aim is to focus on the use and users of accounts. The module includes financial accounting and reporting to those external to the organisation, including the incorporation of environment related information. Management accounting and decision-making for those internal to the organisation incorporating the management of environmental performance via management accounting systems. It also introduces investment appraisal and how businesses are financed including a look at low carbon financing and incentives for renewables.

Learning objectives

Subject specific skills

By the end of the unit the student should have knowledge and understanding of the following:

  • The purpose of accounting and its role in business and society;
  • The process by which accounting reports are prepared;
  • How to read and interpret accounting information;
  • The nature of operating, investing and financing in a business context;
  • The dynamics of costs, breakeven analysis, budgets and how management accounting information is used within businesses;
  • How opportunities arise for investment through analysis and evaluation of accounts;
  • Investment appraisal techniques;
  • Identify the main sources of finance available to a business;
  • How businesses are accounting for the environmental costs and revenues; and
  • Introduction to energy markets and financing energy systems.

Cognitive and key skills

The student will build on and develop the following skills:

  • Numeracy and quantitative skills including the use of models of business situations;
  • Information and knowledge: scanning, interpreting and organising financial data, abstracting meaning from information and sharing knowledge;
  • Problem solving and decision making: establishing criteria, using appropriate decision techniques including identifying, formulating and solving business problems;
  • Discuss theoretical and practical issues in financial and managerial accounting
  • Written communication using a range of media, including the preparation of business reports;
  • Demonstrate calculative, technical and analytical skills, including planning and decision-making in complex and novel situations

Learning outcomes

The module provides a foundation in accounting and finance to build confidence and competence in students in using accounting and finance information in decision making. 

  • Students will be able to read, identify and interpret financial and accounting reports, internal and external to an organisation. 
  • Students will be able to financially appraise low carbon investments and projects competing for financial resources and understand the sources of business finance in a low carbon economy.

Please note: This information is subject to review and change without notice.