ACCT09002 2019 Financial Management

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. 

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

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

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

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. 

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

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. 

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.

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.

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 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 business: External 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.