ACCT09002 2022 Financial Management
As a leader, the ability to understand and interpret financial information for decision-making purposes is essential. Leaders cannot afford financial illiteracy. In this module, students will learn the language of business, which will allow them to communicate with both internal and external stakeholders of their organisation. The student will develop their ability to analyse and interpret the financial statements of varying organisations, apply management accounting techniques and appreciate the role they play in the planning, control and decision-making process and develop an understanding of the role of financial strategy in the finance and resource allocation decisions within an organisation. The importance of aligning with an organisation's Sustainability Development Goals will be considered throughout the students learning.
On completion of this module the learner will/should be able to;
Build an understanding of the financial statements of for profit and not for profit organisations, what is in them and how they are a valuable resource of assessing an organisations financial health.
Assess the relationship between finance and accounting, evaluate the role of the finance function within a business and the importance of good ethical practice in accounting.
Interpret the financial statements, appraise the financial performance of an organisation, including the working capital needs of different organisations and the importance of good working capital management.
Evaluate the nature and purpose of management accounting and apply the main principles of management accounting for planning, controlling and decision making.
Discuss the primary sources of finance available to a business, including the importance of sustainable finance for investors and lenders. Appraise the suitability of the different sources in the context of an organisations' size, financial requirements and legal status and evaluate different capital structure options available to a business.
Teaching and Learning Strategies
Live online learning will occur weekly. Once per term students will be offered the opportunity to attend campus-based learning.
A variety of teaching and learning techniques will be incorporated including case studies, problem-based learning, guest lecturing, flipped classroom, peer learning.
As Masters level students will be required to actively engage in significant self-directed study and must engage in learning that exceeds module objectives.
Module Assessment Strategies
A group project analysing and interpreting the performance of a large Public Limited Company. Students will receive an individual grade within the group project.
Individual project assessing the student's understanding of financial/management reports and their inter-relationship.
Continuous assessment such as online activities, MCQ, written reports etc.
The repeat assessment strategy will be dependent on overall grades and will be decided and documented at the Progression and Award Boards.
Repeat submissions are capped at 40%.
LO1) Assess the relationship between finance and accounting, evaluate the role of the finance function within a business and the importance of good ethical practice in accounting.: Nature and purpose of accounting; Role of finance function within a business; Environmental, Social and Governance criteria; ethical considerations.
L02) Gain an understanding of the financial statements of for profit and not for profit organisations, what is in them and how they are a valuable resource of assessing an organisations financial health.: Financial Statements; Introduce the concept of the time value of money.
L03) Interpret the financial statements, appraise the financial performance of an organisation, including the working capital needs of different organisations and the importance of good working capital management.: Analyse and interpret the financial performance and position of an organisation with a focus on long term considerations; Limitations of ratios as a tool of financial analysis. Factors influencing the level of investment in working capital; Policies for control of working capital. Evaluate companies responses to issues such as environmental, social and governance. Automation of processes, data analysis and visualisation.
L04) Evaluate the nature and purpose of management accounting and apply the main principles of management accounting for planning, controlling and decision making: Cost classification and cost behaviours; Examine Cost control techniques and their use in the decision making process; Financial planning; Budgetary control.
L05) Discuss the primary sources of finance available to a business, including the importance of sustainable finance for investors and lenders. Appraise the suitability of the different sources in the context of an organisations' size, financial requirements and legal status and evaluate different capital structure options available to a business. : External sources of finance, short-term and long-term; Internal sources of finance, short-term and long-term; Importance of sustainable finance for investors and lenders. Factors to consider when choosing an appropriate source of finance; Capital structures; Finance for smaller businesses.
Coursework & Assessment Breakdown
|Title||Type||Form||Percent||Week||Learning Outcomes Assessed|
|1||Individual Project Assessing the student's understanding of financial/management reports and their inter-relationship||Coursework Assessment||Assessment||50 %||OnGoing||1,2,3,4,5|
|2||Group Project Group assessment based on an analysis of the financial performance of a large plc||Coursework Assessment||Assessment||40 %||OnGoing||2,3,5|
|3||Continuous Assessment such as online activities, MCQ, written reports etc.||Coursework Assessment||Assessment||10 %||OnGoing||2,3,4,5|
Online Learning Mode Workload
|Lecture||Distance Learning Suite||Online lecture||2||Weekly||2.00|
|Seminar||Flat Classroom||Seminar||4||Once Per Semester||0.27|
|Independent Learning||Not Specified||Independent Learning||4.25||Weekly||4.25|
Required & Recommended Book List
2019-10-28 Financial Management for Decision Makers 9th Edition
ISBN 1292311436 ISBN-13 9781292311432
Now in its ninth edition, Financial Management for Decision Makers provides students with a unique focus on the practical application of financial management and its role in decision making. Covering topics such as financial planning, making capital investment decisions, and financing a small business, it provides an ideal introduction to the world of financial management. New to this edition: A new chapter on international aspects of financial management, which explores the benefits and problems associated with internationalisation and the management of foreign exchange risk Updated explanations throughout including greater coverage of behavioural finance and share valuation methods Increased number of activities, giving more opportunities to engage with the key concepts Updated Real World examples, which provide connections between the theory and practice of financial decision making This text is ideal for undergraduates from a non-accounting or non-finance discipline taking an introductory module in financial management. It is also suitable for postgraduate students enrolled on certificate and diploma courses in financial management, as well as those enrolled on Diploma in Management Studies and MBA programmes. The text can also be used by finance and accounting students as a foundation for further study. Visit www.pearsoned.co.uk/atrill to gain access to a suite of resources which accompany this text: For instructors: Solution's manual, and PowerPoint slides For students: Opportunities to practise and additional support given through a companion website Peter Atrill is a freelance academic who has worked with leading institutions in the UK, Europe and SE Asia. He was formerly the Head of Business and Management and Head of Accounting and Law at Plymouth Business School, Plymouth University.
2021 Management Accounting for Decision Makers Pearson
ISBN 129234945X ISBN-13 9781292349459
Introduction to management accounting -- Relevant costs and benefits for decision making -- Cost-volume-profit analysis -- Full costing -- Costing and cost management in a competitive environment -- Budgeting -- Accounting for control -- Making capital investment decisions -- Managing risk -- Strategic management accounting: performance evaluation and pricing in a competitive environment -- Measuring divisional performance -- Managing working capital.
ISBN 191235036X ISBN-13 9781912350360
2016-05-20 Leading with Integrity: A Practical Guide to Business Ethics Institute of Chartered Accountants in Ireland
ISBN 1910374652 ISBN-13 9781910374658
Financial Information Analysis: the role of accounting information in modern society Routledge
Management Accounting Research
Accounting and Business Research
Accounting and Business
Business and Finance