Module: Accounts and Economics

Module details

  • Module code

    1116
  • Module leader

    Michael Slark
  • Module Level

    4
  • Module credits

    15
  • Min study time

    150 hours
  • Contact hrs

    30 hours
  • Teaching Period

    Semester 2

Module content

  • the basic principles and conventions underlying the preparation of financial statements include balance sheet
  • the preparation and interpretation of the financial statements of small businesses
  • the importance of cash and liquidity to a business
  • some basic financial analysis focusing on the concepts of profit / revenue / costs / taxation
  • the interaction of supply and demand in the market system in the context of agriculture
  • the case for and the impact of government intervention in agricultural markets
  • exchange rates and agricultural incomes

Module outcomes

To achieve credit for this module, students must be able to:

  1. demonstrate understanding and application of basic accounting conventions
  2. demonstrate basic accounting and financial analysis techniques
  3. prepare and interpret financial statements for small businesses and appreciate their suitability for specified farming situations
  4. demonstrate understanding of the basic principles of economics and apply supply and demand models to agricultural products and commodities
  5. demonstrate understanding of exchange rates in the context of agriculture

Assessment

Assessment Description Weighting
Coursework Coursework assignment 70%
Examination Unseen exam (1 hours) 30%

Key texts

Students should be familiar with the content of at least one of the following:

  • DYSON, J. R. (2017).  Accounting for non-accounting students. 9th ed.  Pearson
  • LIPSEY, R. and CHRYSTAL, A. (2015) Economics. 13th ed. New York: Oxford University Press