MGMT06047 2019 Financial Management and Controls

General Details

Full Title
Financial Management and Controls
Transcript Title
Financial Management and Contr
Code
MGMT06047
Attendance
N/A %
Subject Area
MGMT - Management
Department
CENG - Civil Eng. and Construction
Level
06 - NFQ Level 6
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2019 - Full Academic Year 2019-20
End Term
9999 - The End of Time
Author(s)
Colin Birney
Programme Membership
SG_SPROP_C06 201900 Higher Certificate in Science in Property Services and Facilities Management SG_SFACI_E06 202000 Certificate in Facilities Management
Description

This module explains the importance of financial management to facilities and property management students. It is designed to show the relevance of financial management and controls. The basic principles of financial management are covered as well as more complex financial management topics. The aims of this module are to: Introduce the student to the theory and practice of finance and how it relates to the facilities and property management sector. Provide the key elements needed by students who go into property and facilities management profession. Introduce and explain net present value (NPV) as an important concept in finance and valuation. Encourage students to appreciate that comprehension of the subject matter is more important than computation. This module can also be delivered as a full time option.

Learning Outcomes

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

1.

Describe the goals of a corporation or organisation, the form of the organisation, the agency problem and very briefly, financial markets.

2.

Evaluate the distinction between cash flow and accounting profit.

3.

Demonstrate that they fully understand financial planning and forecasting and realise the importance of forecasting and planning to company value.

4.

Display competence in computerised accounting, including accounting systems and spreadsheets and awareness of structures of data based property management systems.

5.

Provide accounting information for decision making, to prepare accounting statements for planning and control, to prepare periodic accounting reports.

Teaching and Learning Strategies

Lectures, tutorials, seminars and continuous assessment

Module Assessment Strategies

40% ongoing continuous assessment and 60% final exam at the end of the semester

Repeat Assessments

As per the current Mark and Standards procedure

Indicative Syllabus

  • The corporation and the role of the financial/facilities manager
  • Financial statements and cash flow: the balance sheet; the profit and loss account; statements of cash flows; importance of the statement of cash flows; operating performance and net operating profit after tax; calculating free cash flows.
  • Financial statement analysis: solvency; profitability; gearing; pyramid ratios; market valuations; trend analysis; horizontal analysis; limitations of accounting ratios
  • The time value of money: a review of the time value of money
  • Investment appraisal: Accounting rate of return; payback; IRR.
  • The cost of capital: cost of different sources of finance; equity; debt; capital structure.
  • Long-term financial planning and forecasting: financial forecasting and its importance to enhancing value; pro-forma statements; AFN; maximum internal growth rates; weaknesses of accounting based management in asset valuation.
  • Working capital and cash management: the cashflow cycle; working capital definitions; zero working capital cash management; shortening the cash cycle; reasons for holding cash
  • Short-term Sources of Finance: financing permanent and temporary current assets; features of short-term finance; the cost of bank loans; sources of short term finance.

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
40 %
End of Semester / Year Formal Exam
60 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Continuous Assessment Financial Management and Controls Continuous Assessment Assignment 40 % OnGoing 1,2,3,4,5
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Financial Management and Controls Final Exam Closed Book Exam 60 % End of Semester 1,2,3,4,5
             
             

Online Learning Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Online Financial Management and Controls 1 Weekly 1.00
Independent Learning Online Financial Management and Controls 4.84 Weekly 4.84
Directed Learning Online Financial Management and Controls 1 Weekly 1.00
Workshop Online Financial Management and Controls 0.16 Weekly 0.16
Total Online Learning Average Weekly Learner Contact Time 2.16 Hours

Required & Recommended Book List

Recommended Reading
20/06/2019 Partnering in the Construction Industry: A Code of Practice for Strategic Collaborative Working, Butterworth-Heinemann

Recommended Reading
20/05/2019 Achieving Whole Life Value in Infrastructure and Buildings BRE

Recommended Reading
20/04/2019 Whole Life-Cycle Costing, Risk and Risk Responses Kirkham Blackwell Publishing

Recommended Reading
20/02/2019 Construction Funding: The Process of Real Estate Development, Appraisal and Finance, 3rd Edition John Wiley & Sons

Recommended Reading
20/06/2019 Preparing for Design Build Projects: A Primer for Owners, Engineers and Contractors ASCE Press

Recommended Reading
20/06/2019 Major Construction Works; Contractual and Financial Management in Construction Blackwell Publishing

Module Resources

Non ISBN Literary Resources

None

Journal Resources

None

URL Resources

None

Other Resources

Supplemental Reading: (author, date, title, publisher)

  • Akintoye, A. Beck, M. and Hardcastle, C. (2003) Public Private Partnership – Managing Risks and Applications, Oxford, Blackwell Publishing
  • Ashworth, A. (2004) Cost Studies of Buildings, 4th Edition, Pearson Prentice Hall
  • Boyd, D. and Chinyio, E. (2006) Understanding the Construction Client, Oxford, Blackwell Publishing
  • Edum-Fotwe, F. Cooper, R. Deasley, P. Gregory, M. and Thorpe, T. (2007) Managing Design in Construction Organisations and Complex Projects, Oxford, Blackwell Publishing
  • Ellingham, I. Fawcett, W. (2006) New Generation Whole Life Costing: Project and Construction Decision Making Under Uncertainty, Taylor and Francis
  • Griffith, A. Stephen, P. Watson, P. (2000) Management Systems for Construction, Pearson Education Limited
  • Lavender, S. (2001) Management for the Construction Industry, Pearson Education
  • Lowe, D. and Fenn, P. (2007) Commercial Management, Theory and Practice, Oxford Blackwell Publishing
  • Marsh, C. (2003) Building Services Procurement, Spon Press
  • Morledge, R. Smith, A. Kashwagi, (2006) Building Procurement, RICS Research, Blackwell Science
  • Rougvie, A. (1987) Project Evaluation and Development, Mitchell: CIOB London
  • Winch, G.M. (2002) Managing Construction Projects, Blackwell Publishing
Additional Information

None