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.
Code ULMS616
Coordinator Mr KMJ Maguire
Finance and Accounting
Year CATS Level Semester CATS Value
Session 2023-24 Level 7 FHEQ First Semester 10

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             0
Timetable (if known)              
Private Study 100


EXAM Duration Timing
% of
Penalty for late
CONTINUOUS Duration Timing
% of
Penalty for late
Individual written assignment. There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When): Semester 1    100       


The module aims to provide students with an understanding of:

The responsibilities of organisations to stakeholders;

The context of financial information requirements, a conceptual framework for financial reporting;

Key financial statements of companies consistent with recognition and presentation in IAS1 and IAS7;

Interpretation of financial statements;

How management plan for and exercise control of financial resources;

Financial decision making;

How major capital resource decisions are made to optimise shareholder wealth;

The value chain and how financial resources can be managed to add value;

How linkages between financial resources and value systems are created for competitive advantage;

How and from where businesses can raise capital.

Learning Outcomes

(LO1) Understand the conceptual basis for financial reporting.

(LO2) Define the scope of responsibilities of organisations and their corporate governance arrangements and specify the role of financial resources within that context.

(LO3) Define the resources available to an organisation.

(LO4) Prepare and interpret basic financial statements in compliance with the international accounting standards IAS1 and IAS7.

(LO5) Understand the tools of the management of financial resources in terms of inter alia, financial reporting, management accounting and financial management.

(LO6) Show how and where value chains within organisations may be measured and assessed.

(LO7) 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.

(LO8) Develop a comprehensive understanding of theories and the application of techniques in finance and financial management to support company valuation and resource management of a business.

(LO9) Utilise financial data to analyse decision alternatives and identify consequences for profitability as well as all stakeholders.

(S1) Problem solving skills. Developed through online content and guidance for the assessments.

(S2) Numeracy. Developed through online content and guidance for the assessments.

(S3) Commercial awareness. Developed through online content and guidance for the assessments.

(S4) Ethical awareness. Developed through online content and guidance for the assessments.

Teaching and Learning Strategies

Online Discussions x 28 hours

The learning and teaching strategy is founded upon the principles established through the MBA programme (see Section 6 of the Thoroughbred Horseracing Industries MBA Programme Specification). This module will include 28 hours of directed learning delivered online using both synchronous and asynchronous methods. The teaching will use a number of digital collaboration methods such as: online classrooms; online discussion boards; podcasts; blogs; video-blogs; video-presentations; and online simulations of decision environments and cases.

The strong industry focus employed in a variety of case studies allows students to see connections to other disciplinary areas such as marketing and strategy.

Self-directed learning x 72 hours

Self-directed learning hours will be used by students to ensure that requisite reading is undertaken, preparation for online classes and presentations, and for completion of assessed and non-assessed work that will aid and enhance the students’ own learning experience.



Definitions of organisations and their stakeholders;

The context of financial reporting - a conceptual framework;

Key financial statements: income statements, balance sheet, cash flow statements;

Presentation of financial statements;

Ratio analysis and introduction to financial interpretation;

Introduction to management accounting;

Cost management concepts and cost behaviour;

Short term financial decision making;

Management accounting and control systems: Assessing performance over the value chain;

The role of budgets and budgeting in organisational objectives including cash budgets;

An introduction to the financing of businesses;

The time value of money and optimising financial decisions over time;

Capital budgeting decisions;

Dealing with risk: Sensitivity and scenario analysis.

Recommended Texts

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