ACCT09002 2019 Financial Management

General Details

Full Title
Financial Management
Transcript Title
Financial Management
Code
ACCT09002
Attendance
N/A %
Subject Area
ACCT - Accounting
Department
SOCS - Social Sciences
Level
09 - NFQ Level 9
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2019 - Full Academic Year 2019-20
End Term
9999 - The End of Time
Author(s)
Breda McTaggart, Tomas O Flaherty, Sandra Hallinan, John Gaynor
Programme Membership
SG_HPROF_M09 000000 Master of Arts in Humanities in Professional Leadership
Description

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 investment, finance and resource allocation decisions within an organisation.

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Assess the relationship between financial management, management accounting and financial reporting, evaluate the role of the finance function within a business and the importance of good ethical practice in accounting. 

2.

Evaluate the nature and purpose of management accounting and apply the main principles of management accounting for planning, controlling and decision making.

3.

Interpret the financial statements and appraise the financial performance of an organization.

4.

Critically appraise capital investment projects using appropriate techniques and justify a course of action after considering the impact of inflation, taxation and risk.

5.

Identify the primary sources of finance available to a business, appraise the suitability of the different sources in the context of an organization's size and financial requirements and evaluate different capital structure options available to a business. 

6.

Assess the working capital needs of different organizations, how it is financed and evaluate the importance of good working capital management 

7.

Evaluate the benefits of business software in providing accounting information for external and internal use and assess how continuous changes in technology are affecting the finance function in organizations. 

Teaching and Learning Strategies

Live online learning will occur weekly. Once per term students will be offered the opportunity to attend campus-based learning.

Live learning will include the use of problem-based learning and case studies.

Module Assessment Strategies

A group project analysis 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.

Repeat Assessments

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%.

Indicative Syllabus

LO1) Assess the relationship between financial management, management accounting and financial reporting, 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; Risk management; Corporate Governance; Corporate Social Responsibility; ethical considerations; regulatory environment; 

L02) 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 behaviour; Cost-volume-profit analysis; Cost control; Short term decision making; Financial planning; Budgetary control.

L03) Interpret financial statements and appraise the financial performance of an organisation: Financial Statements; Analyse and interpret the financial performance and position of an organisation; Limitations of ratios as a tool of financial analysis.

LO4) Critically appraise capital investment projects using appropriate techniques and justify a course of action after considering the impact of inflation, taxation and risk: Nature and importance of investment decision making; Investment appraisal methods; Stages in the investment decision-making process; Effect of inflation on investment appraisal; Risk and capital projects.

L05) Identify the primary sources of finance available to a business, appraise the suitability of the different sources in the context of an organisation's size and financial requirements and evaluate different capital structure options available to a businessExternal sources of finance – short-term and long-term; Internal sources of finance – short-term and long-term; Factors to consider when choosing an appropriate source of finance; Role and nature of the Stock Exchange; Methods of issuing share capital; Dividend policy; Cost of capital and capital structures; Finance for smaller businesses.

L06) Assess the working capital needs of different organisations, how they are financed and evaluate the importance of good working capital management: Main elements of working capital; Purpose of working capital; Assess the working capital cycle; Factors influencing the level of investment in working capital; Policies for control of working capital.

LO7) Evaluate the benefits of business software in providing accounting information for external and internal use and assess how continuous changes in technology are affecting the finance function in organisations: Business software; Automation of processes; Data analytics; Data visualisation. 

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
100 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Individual Project Assessing the student's understanding of financial/management reports and their inter-relationship Continuous Assessment Assessment 30 % OnGoing 1,2,3,4,6,7
2 Group Project Group assessment based on an analysis of the financial performance of a large plc Continuous Assessment Assessment 50 % OnGoing 1,3,4,5,6,7
3 Continuous Assessment such as online activities, MCQ, written reports etc. Continuous Assessment Assessment 20 % OnGoing 2,4

Required & Recommended Book List

Required Reading
2017-03-14 Financial Management for Decision Makers Pearson Education
ISBN 9781292134338 ISBN-13 9781292134338
Required Reading
2018-07-25 Management Accounting for Decision Makers 9th edition Pearson
ISBN 9781292204574 ISBN-13 9781292204574

Management Accounting For Decision Makers 9Th Edition, by Peter Atrill, 9781292204574 , Pearson

Recommended Reading
2014-08-11 Finance: Theory and Practice Chartered Accountants Ireland
ISBN 1908199482 ISBN-13 9781908199485

Anne Marie Ward's textbook has become the seminal text for the study of finance for both professional and academic courses. With particular relevance to students in Ireland and the UK, but also internationally, the author clearly presents the theory behind finance, provides practical worked examples to illustrate this theory and integrates real-world business examples and academic research to provide a deeper understanding of the subject. Finance: Theory and Practice: Explains the factors that can impact on financial decision-making, particularly the impact of the current economic environment. Explores the various theories for influencing or improving financial decision-making. Considers current research findings and interprets these in light of the theory. Uses simple examples to review and explain the theory being considered, building up to examination standard questions at the end of each chapter. Uses examples from Irish and UK companies to explain finance decision-making.This new edition: has more real-world examples illustrating practical application of the subject; is updated for regulatory changes; contains more case study and exam questions in each chapter; splits the chapter on risk into three shorter chapters, covering commodity price risk, exchange rate risk and interest rate risk, with more worked examples in each area; is more reader-friendly - using colour and wide range of diagrams to emphasise key information, blocks of text are broken up and reader engagement enhanced.

Recommended Reading
2016-05-20 Leading with Integrity: A Practical Guide to Business Ethics Institute of Chartered Accountants in Ireland
ISBN 1910374652 ISBN-13 9781910374658

Module Resources

Non ISBN Literary Resources

Peter Atrill (2006) Financial Management for Decision Makers (4th edition). Prentice Hall.          

Journal Resources

Management Accounting Research

Accounting and Business Research

Accountancy Ireland

Accounting and Business

Business and Finance

Accountancy Age

URL Resources

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Other Resources

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Additional Information

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