ULMS Electronic Module Catalogue

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title FINANCIAL MANAGEMENT
Code ACFI204
Coordinator Dr MT Ellington
Finance and Accounting
M.Ellington@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2019-20 Level 5 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

 

Modules for which this module is a pre-requisite:

 

Programme(s) (including Year of Study) to which this module is available on a required basis:

 

Programme(s) (including Year of Study) to which this module is available on an optional basis:

 

Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 24

        10

34
Timetable (if known) 120 mins X 1 totaling 24
 
           
Private Study 116
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 1: Written Unseen Examination Assessment Type: Written Exam Duration: 2.5 hours Weighting: 100% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL Penalty A  2.5 hours    100       
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
             

Aims

The module aims to introduce students to the modern theory of finance and financial management. Theoretical concepts like the net present value, decision making under uncertainty, portfolio selection and the capital asset pricing model are introduced. These concepts serve as prerequisites for investment and financing decisions which are exemplified by an analysis of valuation of firms, capital structure decisions and dividend policy. More specifically, the topics covered are the value and capital budgeting, portfolio theory, models of security valuation, efficient markets, long-term financing, company dividend decisions, capital structure, and interactions of investment and financing decisions. In all cases contemporary examples will be used to make theory come to life.


Learning Outcomes

(LO1) Facilitate understanding of the main themes of modern financial management.

(LO2) Equip students with the tools and techniques of financial management.

(LO3) Enable students to interpret and critically examine financial management issues and controversies.

(LO4) Provide the necessary knowledge to allow students to progress to studying Business Finance in the third year.

(S1) Problem solving skills

(S2) Numeracy

(S3) Commercial awareness

(S4) Organisational skills

(S5) Communication skills

(S6) IT skills

(S7) International awareness

(S8) Lifelong learning skills

(S9) Ethical awareness


Teaching and Learning Strategies

Teaching Method: Lecture
Scheduled Directed Student Hours: 24
Attendance Recorded: Yes
Notes: 12x2hr

Teaching Method: Workshop
Scheduled Directed Student Hours: 10
Attendance Recorded: Yes

Self-Directed Learning Hours: 116
Description: These independent learning hours are aimed at supporting the directed student learning. The module leader will provide guidance in the form of suggested readings and topics to examine with the expectation that students are well prepared to contribute to the tutorial activities and to understand the content of lectures. Self-Directed Learning will include research activity, developing academic writing skills, and wider reading to support the module

Costs Information:
There are no specific costs attached to this module.

There are the following non-modular requirements:
ACFI102 or ACFI103 and either ACFI111 or ECON111 (or equivalent).

Skills/Other Attributes Mapping

Skills / attribute s: Lifelong learning skills
How this is developed: Taught
Mode of assessment (if applicable)

Skills / attributes: International awareness
How this is developed: Taught
Mode of assessment (if applicable)

Skills / attributes: IT skills
How this is developed: Where appropriate videos will be utilised to help students recreate in class examples.
Mode of assessment (if applicable)

Skills / attributes: Communication skills
How this is developed: The module will make use of a discussion forum where students will be expected to behave in a collegiate manner and help each other resolve queries
Mode of assessment (if applicable)

Skills / attributes: Organisational skills
How this is developed: The module moves at a fast pace and it is essential that students take control of their studies.
Mode of assessment (if applicable)

Skills / attributes: Commercial awareness
How this is developed: Wherever possible lecture material w ill be related to the “real world"
Mode of assessment (if applicable)

Skills / attributes: Numeracy
How this is developed: Taught
Mode of assessment (if applicable): Assessment 1

Skills / attributes: Problem solving skills
How this is developed: Taught
Mode of assessment (if applicable)


Syllabus

 

An introduction to equity markets Arnold: Ch 9 & Ch 10;
Risk versus Return Arnold: Ch 7;
The Capital Asset Pricing Model and Factor Models Arnold: Ch 8;
The time value of money, dividend discount modeland the market and valuation of bonds Arnold: Ch 2;
Capital Structure and the weighted average cost ofcapital Arnold: Ch 10;
Valuation and Investment Decision Rules Arnold: Ch 2;
Dividend Policy Arnold: Ch 19;
Market Efficiency Arnold: Ch 13;
An introduction to FX markets, risk, hedging usingforward, futures, trading and hedging using futures Arnold: Ch 21;
An introduction to equity options, fx options andhedging using fx options Arnold: Ch 21.


Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.