Finance and Accounting
Code | School | Level | Credits | Semesters |
BUSI4015 | Business | 4 | 10 | Summer UK |
- Code
- BUSI4015
- School
- Business
- Level
- 4
- Credits
- 10
- Semesters
- Summer UK
Summary
This module provides an introduction to the theory and practice of financial accounting and reporting, management accounting and finance. Both commercial and not-for-profit organisations will be considered.
Financial reporting is the process of presenting financial (and other) information to a range of stakeholders in order to ensure appropriate accountability and stewardship. Students will be encouraged to consider the need for integrityin financial accounting and reporting, and the potential limitations of regulation and standards.
Management accounting is concerned with the preparation and presentation of accounting information to aid managers in their jobs of planning, decision making and control. New and traditional management accounting techniques are analysed in the context of a changing management context with its emphasis on strategy, costing and performance metrics. The content of the module is aimed primarily at managers and not accountants.
The finance section emphasises two of the major financial decisions, the investment decision and the financing decision - where the money comes from and how it is best used within the organisation.
Target Students
Only available for students on one of the Executive MBA variants OR MBA Executive Senior Leadership students
Classes
- One 4-hour lecture
- One 7-hour lecture
32 hours contact time over a one-week intensive block. 8 hours pre-reading; 35 hours self-study; 25 hours group assignment
Assessment
- 40% Coursework 1: Company analysis (3000 words)
- 40% Coursework 2: Finance (2,000 words)
- 20% Coursework 3: Costing (mainly computational - 1,500 words)
Assessed by end of designated period
Educational Aims
To develop managers' understanding of (a) the theory and practice of external financial reporting by business organisations including the analysis and limitations of published financial reports, (b) the methods and limitations of costing and budgetary planning, (c) the principal theories of capital value and related investment decision-making.Learning Outcomes
Knowledge and understanding
This module develops a knowledge and understanding of:
• The dynamics of the global economy and international business &/or an awareness of cultural, legal/regulatory, political, and economic differences across countries &/or an appreciation of management issues from a global perspective.
• Markets - the development and operation of markets for resources, goods and services
• Finance - the sources, uses and management of finance
• The use of accounting and other information systems for managerial applications
• Tools and techniques for transforming (big) data into useful information for business analysis and decision support
Other
• Know and understand business modelling
• Know and understand Financial strategies including scenarios, modelling and identifying trends
• Know and understand application of economic theory to decision-making
• Know and understand how to evaluate financial and non-financial information
• Know and understand financial governance and legal requirements, with Knowledge and understanding in having an awareness of legal, regulatory, political and economic differences across countries
Intellectual skills
This module develops:
• Being able to think critically and be creative: manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately
• Being able to solve complex problems and make decisions: establish criteria, using appropriate decision-making techniques including identifying, formulating and solving business problems; and the ability to create, identify and evaluate options; the ability to implement and review decisions
• Using information and knowledge effectively in order to abstract meaning from information and to share knowledge, including the use of quantitative skills
Professional practical skills
This module develops:
• The ability to conduct research and enquiry into business and management issues either individually or as part of a team through research design, the collection and analysis of qualitative data, synthesis and reporting
• Effective performance within team environments and the ability to recognise and utilise individuals' contributions in group processes and to negotiate and persuade or influence others; team selection, delegation, development and management. Leadership and performance management: selecting appropriate leadership style for different situations; setting objectives, motivating, monitoring performance, coaching and mentoring
Other
• Be able to oversee financial strategies/management, results and setting organisational budgets
• Be able to challenge financial assumptions underpinning strategies
• Be accountable for decisions based on relevant information e.g. Key Performance Indicators/scorecard
• Be able to use financial data to allocate resources, including the knowledge and understanding in the development of the operation of markets for resources
Transferable (key) skills
This module develops:
• Effective communication: networking, listening, oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports
• High personal effectiveness: critical self-awareness, self-reflection and self-management; time management; conflict resolution, displaying commercial acumen, the ability to continue to learn through reflection on practice and experience
• Soft skills: understanding the needs of others and empathy towards them; sensitivity to diversity in people and in different situations