This module aims to:

Provide students will the skills and competencies required to critically analyse, and interpret published financial statements and to utilise financial data to analyse decision alternatives and identify consequences for profitability and for the impact on different stakeholders;

Develop students’ awareness of how key theoretical models and the management accounting framework can support financial decision making in relation to costing, budgeting, performance evaluation and financial reporting;

Provide students will the skills and competencies required to critically appraise alternative financing sources for a venture and understand the impact of gearing decisions on operating and financial risk and performance.

(LO1) Students will be able to utilise financial data to analyse decision alternatives and identify consequences for profitability and for different stakeholders.

(LO2) Students will be able to critically analyse, and interpret published financial statements.

(LO3) Students will be able to critically appraise alternative financing sources for a venture and understand the impact of gearing decisions on operating and financial risk and performance.

(LO4) Students will be able to demonstrate an awareness of how key theoretical models and the management accounting framework can support financial decision making in relation to costing, budgeting, performance evaluation and financial reporting.

(LRE1) Commercially aware.
Students will develop an understanding of the commercial and financial nature of organisations and will use this understanding to underpin both operational and strategic decision-making.

(LRE2) IT literate.
Students will have opportunities to improve their IT skills. Students will demonstrate skills in the use of software applications including word processing and spreadsheets.

(LRE3) Numerate.
Students will develop an understanding of financial data, and how to identify, handle, analyse and interpret appropriate forms of data for business decisions.

(LRE4) Organised and able to work under pressure.
This will be evident in the students’ independent management of their assignments and ability to meet deadlines.

The module will primarily be delivered through a series of e-lectures, delivered through a variety of methods, covering key topics, theories and case examples. These will be supported by individual online task such as, case studies, blogs, collaborative tasks and discussion boards, which will be used to develop and apply learning. These activities will be moderated by the module instructor. Students will also be directed to key academic and practitioner readings to further develop their learning.

Unscheduled Directed Student Hours: 30 hours
Description: The asynchronous e-lecture and interactive class activity will equate to 5 hours per week over 6 weeks.
Attendance Recorded: Yes – tracked via the learning platform.

One scheduled synchronous seminar of one hour will be delivered in week 1, with the remaining two synchronous seminar hours scheduled during weeks 2 to 6. The dates and times of the seminars will be confirmed at the start of the module (if th ere are issues with time zones another session will be provided). Peer discussion and questions will be encouraged. These sessions will be recorded and moderated by the module instructor.

Scheduled Directed student hours: 3 hours
Description: The synchronous seminars will equate to 3 hours in total over 6 weeks.
Attendance Recorded: Yes – tracked via the learning platform.

Self-directed learning hours: 67 hours
Description: This will involve directed and independent reading, and independent research into finance and accounting theories and practices relevant to the module syllabus, aims and learning outcomes.

Introduction to the different roles of financial accounting, management accounting, and financial management, in terms of their use to business.

Financial statements - The module explores the need for and presentation of financial statements, and provides students with an appreciation of the interlinkage between these statements. Students will also explore the usefulness of the financial statements to business decisions.

Company performance evaluation (ratio analysis) - Students will learn how to conduct analysis of company performance (profitability, liquidity, investor ratios and gearing) from financial statements using ratio analysis. As well as mastering key calculations used in practice, we will evaluate the usefulness of these calculations to stakeholders.

Investment appraisal - The module prepares students to evaluate potential strategies / projects using financial investment appraisal techniques, as well as showing the limitations of these techniques. The m odule also demonstrates techniques to deal with risks and uncertainties associated with forecasts built into cash flow estimates.

Budgeting and control - Students will explore how businesses plan and control operations through the adoption of budgets. The module will explore different types of budgets, and will build students’ ability to understand and challenge the usefulness of these budgeting techniques in relevant business scenarios. In order to study the control of business activities, the module also explores the application and evaluation of non-financial statistics.

Financing - Sources and types of finance available to businesses is critical for managers to appreciate. Students will develop understanding of the funds that are likely to be both available and suitable for business activities through their lifecycle.

Risk Management - Other non-financial and financial risks facing businesses are considered along with risk management techniques.