Assessment Pattern

Assessment Strategy

Assignment

Part of this module is assessed by the analysis of a financial case study which will involve the demonstration and knowledge of qualitative and quantitative aspects of the financial management course. Students are expected to display an understanding of financial theories and how they may be used for decision-making. Evidence of reading beyond the core texts is encouraged so demonstrating a robust knowledge and understanding of the subject area. Answers will be graded on their appropriateness, depth and creativity of content

Examination

The examination is in the form of a pre seen case assessment and a number of unseen exam questions. It is anticipated that these case studies will demonstrate the development of analytical abilities, using concepts derived from the financial management syllabus, directed towards business problem-solving in an international environment; whilst the unseen exam questions will test the full range of concepts and techniques developed throughout the course.

Module Overview

This module encourages the ability to think across management disciplines and to appreciate the significance of the fiscal implications of the decisions.  The enhancement of quantitative skills is a core element of an MBA. This course is designed to develop the students understanding of how financial information is used in an analytical manner within a business environment.  It provides students, with the conceptual foundations for understanding, analysing and interpreting financial information and enables them to apply accounting principles and financial theory to decision making in modern business organisations

Module Aims

This module aims to enable the student to understand and analyse the  information found in published in financial accounts and other accessible data sources, to evaluate the business performance of the business unit. It will enable the student to have an appreciation of the financial management and control process in firms and understand the investment and financial decision making process in a business. Finally it also explores the lack of certainty in accounting, the need for conventions, corporate social responsibility and governance.

Learning Outcomes

On successful completion of this module students will be able to:

·                Understand the content and purpose of financial statements, their interpretation, their limitations and evaluate the current performance of an organisation and its future sustainability from their corporate reporting.

·                Understand the basic principles and models of cost accounting and how they may be applied and the cost concepts required for decision making in an international business environment.

 

·                Recognise the differences between corporate strategy and value creation.

 

·                Use valuation skills and metrics in capital budgeting.

·                Understand the principles of Corporate Finance and appraise the theories of investment.

 

·                Recognise the strategic implications of financial decision making.

·                Analytical skills.

·                Ability to balance the relative advantages of alternative financial strategies

·                Use of argument and evidence.

·                Students will acquire confidence in realising how they can identify financial problems and readily apply techniques taught in class to real life cases.

·                Awareness of the importance of financial management decisions on the performance of a company.

·                Students will recognise the importance of the short term decision and the role played by an efficient and effective working capital policy

·                Report writing and presentational skills.

·                Working effectively in teams.

·                Improved decision making in an international business environment

·                Present findings to the client in an effective and engaging manner

·         Problem diagnosis and analysis

Module Content

·         The accounting environment ,governance and standards

·         Introduction to financial accounting, Profit and loss account, Balance sheet, cashflow, statement 

·         Fundamental Financial Analysis, Trend and Ratio Analysis

·         Introduction to management accounting, Absorption costing, Marginal costing, Alternative Costing systems

·         Budgetary planning systems, Standard Costing

·         Working Capital Management

·         Risk and Return

·         Capital Budgeting - DCF,NPV,IRR,MIRR, Cost of capital

·         Valuation: Application to Shares and Bonds

·         Capital Formation: Markets and Securities

·          Structure of capital market, Capital market efficiency

Methods of Teaching/Learning

Teaching and Learning Strategy

The following are used to facilitate the Learning Outcomes:

U-Learn

·                U-learn is used to support and facilitate the student experience and includes activities that allow students to test their knowledge and understanding of the theories and concepts applied in the financial management context.

Lectures/seminars/workshops/On line exercises/ Simulations

·                Lectures are used to introduce, compare, contrast and contextualise theories and concepts.  Their primary aim is to improve student understanding and knowledge.  Students acquire their professional and practical skills and intellectual and cognitive skills through a menu of delivery modes. 

·                Seminars and workshops are used to apply theories and concepts to case studies and scenarios and students are encouraged to develop contextually relative thinking and a deeper appreciation of the subject matter.  Students are actively encouraged to work in teams and to present their findings to other students at regular intervals.

·                On-line tutorials- The course makes use of accounting lab and finance lab by Pearson publishing the students are invited to complete a range of on line exercises to help consolidate learning of core concepts.

·                Simulations are used to help introduce real life scenarios and raise awareness of the importance of financial management decisions on the performance of a company

Selected Readings

Essential Readings

• Eddie McLaney and Peter Atrill (2010), Accounting: An Introduction, 5^th edition, Prentice Hall.

   

• Denzil Watson and Anthony Head (2010) Corporate Finance, Principles and Practice, 5th edition, Prentice Hall.
  
  

   

Recommended Readings

Atrill, P. (2008) Financial Management for Decision Makers, 5th edn., Prentice Hall.

 

Besley, S. & Brigham, E. (2005) Essentials of Managerial Finance, 13^th edn.

Financial Reporting Standards (2009)  2^nd edn.  John Wiley.

Holmes, G. Sugden, A. and Gee, P. (2010), Interpreting Company Reports and Accounts, 10^th edn.  Pearson Education Ltd.

Melville, A. (2009) International Financial Reporting, 2nd edn. Pearson Education Ltd.

Van Horne, V. (2008) Fundamentals of Financial Management, 13^th edn. Pearson Education Ltd.

 

Supporting Readings

Boakes, K. (2009) Reading and Understanding the Financial Times, 2nd edn. Prentice Hall.

 

Journals

Journal articles relevant to the field of financial management may be accessed using the various Internet services to which SOM subscribes.  Particularly relevant is the information available through EBSCO such as:

Journal of Business Finance and Accounting

Journal of Business Research

Journal of Finance

Journal of Financial Economics

Journal of Financial Research

The Review of Financial Studies

Regular reading of papers such as the Financial Times, The Economist, and the Investor ' s Chronicle, many of which are received in the library or in electronic format, can only be beneficial.