This module aims to develop students’ financial literacy at a strategic level. They will learn how accounting and finance interact, and will consider the problems that face organisations at Board level. Students will consider the knowledge and skills needed to be able to feel at ease with the jargon, and with internal and external finance and accounting professionals.
It’s all about the money – looking at financial tools and products. These will include:
- Understanding Organisations
- Practical Accounting – financial statements, sources of finance and other financial data, and looking at new technologies such as crypto-currencies and their use of block-chain technologies
- Regulatory Framework – for finance, accounting, regulation and ethics
- Management Accounting – what a manager needs to know, and ask, including costing, pricing and risk
- People and Profit – sustainability/environmental/food/agriculture – including valuing your business – what is a business really worth?
There will be some work on business planning to provide context and by the end of the module students will be considering many of the techniques available for analysis including:
Relevant costs and short-term decisions. Business valuation. Capital investment appraisal. Portfolio theory and capital asset management. Efficient market theory. Dividend policy. Cost of capital. Foreign exchange. Mergers and acquisitions.
To achieve credit for this module, students must be able to:
- Demonstrate a knowledge and understanding of financial statements and reporting.
- Critically evaluate the financial models most commonly in use.
- Choose between theories appropriate to various business situations, by a deep understanding of which models should be applied to various financial decisions.
- Analyse and evaluate business and business performance through financial data.
|Coursework||Evaluate and compare two organisations in order to identify operational differences (global and local) (3000 words)||100%|
Assessments may differ in 2020/21 due to adjustments for Covid-19. Please check Gateway for the latest regulations.
Students need to be familiar with the contents of one of the following:
- Arnold, G. (2013). Corporate Financial Management. 5th edition. Pearson Education.
- Gray, R., Adams, C. A. and Owen, D. (2014) Accountability, Social Responsibility and Sustainability: Accounting for Society and the Environment. Pearson Education.
- McLaney, E. and Atrill P. (2015) Accounting and Finance for Non-Specialists, (9th ed.), Pearson.
- Seal, W., Garrison, R. and Noreen, E. (2013) Management Accounting, (4th edition), London: McGrawHill.
- Students should engage with the financial press, such as the Financial Times, and look regularly at published accounts of major corporations.
- Weetman, P. (2016) Financial and Management Accounting, (7th ed.), Financial Times Press.