EC59D6: ACCOUNTING AND THE ENERGY INDUSTRY (2024-2025)

Last modified: 23 Jul 2024 11:07

Course Overview

Expand your knowledge of accounting and the energy industry.

This course will give you an in-depth understanding of the framework of accounting principles relevant for the energy industry. You will learn about financial accounting assumptions and conventions and the relevance of essential key metrics used by energy companies across the world.

Course Details

Study Type	Postgraduate	Level	5
Term	First Term	Credit Points	15 credits (7.5 ECTS credits)
Campus	Aberdeen	Sustained Study	No
Co-ordinators	Professor Angela Black

What courses & programmes must have been taken before this course?

Any Postgraduate Programme

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

Are there a limited number of places available?

Course Description

Energy experts across the world depend upon a team of professionals to provide them with knowledge and specialized information. A key member of this team is the accountant. Understanding the framework of accounting principles means you develop skills and knowledge essential to becoming a skilled leader in the energy marketplace. This course gives you the opportunity to explore financial accounting assumptions and conventions including financial statement analysis and the calculation of key metrics used daily by energy companies.

Among other topics the course includes:

The nature and role of accounting with reference to the energy industry.
The main users of financial information within the energy industry.
The global landscape for major corporations.
Stock markets; the primary and secondary markets.
Liquidity
The structure and financial management of a company.
Independent auditors and the audit process.
The statement of financial position (the balance sheet).
Understanding the income statement.
The statement of cash flows and understanding cash flow.
Book value, market value and shareholder’s equity.
Analysing and interpreting financial statements; including financial ratios, economic value added and accounting rates of return.
Financial leverage and liquidity and sustainable growth rates.
The board of directors and the role of non-executive directors.
Corporate governance around the world.

By the end of this course you will:

Understand the key roles played by financial managers and accountants in the energy industry.
Understand methods for using financial statements and information to improve the quality of decision making for energy companies.
Be able to critically evaluate the uses and limitations of the statement of financial position in relation to decision making.
Be able to describe the audit process and the key players in this process.
Be able to explain the role and composition of the board of directors and the issues associated with the remuneration of directors.
Be able to consider the importance of corporate governance across the world.

Details, including assessments, may be subject to change until 30 August 2024 for 1st term courses and 20 December 2024 for 2nd term courses.

Summative Assessments

Exam

Assessment Type	Summative	Weighting	75
Assessment Weeks	19,20	Feedback Weeks	24,25,26	Look up Week Numbers
Feedback	Take home exam (open book assessment) consisting of up to five compulsory questions with a maximum of 3000 words for the entire assesment. There is a one-week window to complete the examination. Feedback is given via online webinar as required.

Learning Outcomes

Knowledge Level	Thinking Skill	Outcome
Conceptual	Analyse	Explain the role of financial managers and accountants and be able to identify the qualities that make accounting information useful for the energy industry.
Conceptual	Apply	Critically evaluate the uses and limitations of the financial statements in relation to decision making.
Conceptual	Evaluate	Describe the role and content of the directors report and the strategic report for energy companies.
Conceptual	Understand	Discuss the importance of corporate governance from a worldwide perspective.
Conceptual	Understand	Demonstrate understanding of the importance of cash flow for a limited company.
Factual	Understand	Demonstrate knowledge and understanding of the nature and purpose of the three major financial statements including accounting conventions that underpin these statements.

Class Test

Assessment Type	Summative	Weighting	20
Assessment Weeks		Feedback Weeks		Look up Week Numbers
Feedback	Up to two online quiyyes during the semester restricted to a single attempt and with time limit. Feedback given with correct answers after marking. Feedback is also given in webinars.

Learning Outcomes

Knowledge Level	Thinking Skill	Outcome
Conceptual	Analyse	Explain the role of financial managers and accountants and be able to identify the qualities that make accounting information useful for the energy industry.
Conceptual	Apply	Critically evaluate the uses and limitations of the financial statements in relation to decision making.
Conceptual	Evaluate	Describe the role and content of the directors report and the strategic report for energy companies.
Conceptual	Understand	Demonstrate understanding of the importance of cash flow for a limited company.
Conceptual	Understand	Discuss the importance of corporate governance from a worldwide perspective.
Factual	Understand	Demonstrate knowledge and understanding of the nature and purpose of the three major financial statements including accounting conventions that underpin these statements.

Tutorial/Seminar Participation

Assessment Type	Summative	Weighting	5
Assessment Weeks		Feedback Weeks		Look up Week Numbers
Feedback	Participation in online discussion. Expectations set that students will contribute by posting at least once per week to online discussion forums. A C6 will be given to the student if at the end of the module they failed to make any submissions to the online discussion forums across the semester. Feedback will be provided via webinars.

Learning Outcomes

Knowledge Level	Thinking Skill	Outcome
Conceptual	Analyse	Explain the role of financial managers and accountants and be able to identify the qualities that make accounting information useful for the energy industry.
Conceptual	Apply	Critically evaluate the uses and limitations of the financial statements in relation to decision making.
Conceptual	Evaluate	Describe the role and content of the directors report and the strategic report for energy companies.
Conceptual	Understand	Discuss the importance of corporate governance from a worldwide perspective.
Conceptual	Understand	Demonstrate understanding of the importance of cash flow for a limited company.
Factual	Understand	Demonstrate knowledge and understanding of the nature and purpose of the three major financial statements including accounting conventions that underpin these statements.

Formative Assessment

Progression and self-assessment tests

Assessment Type	Formative	Weighting	0
Assessment Weeks		Feedback Weeks		Look up Week Numbers
Feedback	Up to 5 progression tests consisting of ten questions. Detailed feedback is given for correct and incorrect answers. Up to 10 self-assessments. Detailed feedback is given for correct and incorrect answers. Feedback is also given in webinars.

Learning Outcomes

Knowledge Level	Thinking Skill	Outcome
Conceptual	Analyse	Explain the role of financial managers and accountants and be able to identify the qualities that make accounting information useful for the energy industry.
Conceptual	Apply	Critically evaluate the uses and limitations of the financial statements in relation to decision making.
Conceptual	Evaluate	Describe the role and content of the directors report and the strategic report for energy companies.
Conceptual	Understand	Discuss the importance of corporate governance from a worldwide perspective.
Conceptual	Understand	Demonstrate understanding of the importance of cash flow for a limited company.
Factual	Understand	Demonstrate knowledge and understanding of the nature and purpose of the three major financial statements including accounting conventions that underpin these statements.

Resit Assessments

Exam

Assessment Type	Summative	Weighting	100
Assessment Weeks		Feedback Weeks		Look up Week Numbers
Feedback	Take home exam (open book assessment) consisting of up to five compulsory questions with a maximum of 3000 words for the entire assesment. There is a one-week window to complete the examination. Feedback is given via online webinar as required.

Learning Outcomes

Sorry, we don't have this information available just now. Please check the course guide on MyAberdeen or with the Course Coordinator
Knowledge Level	Thinking Skill	Outcome

Course Learning Outcomes

Knowledge Level	Thinking Skill	Outcome
Conceptual	Analyse	Explain the role of financial managers and accountants and be able to identify the qualities that make accounting information useful for the energy industry.
Conceptual	Apply	Critically evaluate the uses and limitations of the financial statements in relation to decision making.
Factual	Understand	Demonstrate knowledge and understanding of the nature and purpose of the three major financial statements including accounting conventions that underpin these statements.
Conceptual	Understand	Demonstrate understanding of the importance of cash flow for a limited company.
Conceptual	Evaluate	Describe the role and content of the directors report and the strategic report for energy companies.
Conceptual	Understand	Discuss the importance of corporate governance from a worldwide perspective.

EC59D6: ACCOUNTING AND THE ENERGY INDUSTRY (2024-2025)

Course Overview

Course Details

What courses & programmes must have been taken before this course?

What other courses must be taken with this course?

What courses cannot be taken with this course?

Are there a limited number of places available?

Course Description

Summative Assessments

Exam

Learning Outcomes

Class Test

Learning Outcomes

Tutorial/Seminar Participation

Learning Outcomes

Formative Assessment

Progression and self-assessment tests

Learning Outcomes

Resit Assessments

Exam

Learning Outcomes

Course Learning Outcomes

Compatibility Mode