On successful completion of the module, students will be able to:
Understand, explain and evaluate the sources and uses of economics, financial and accounting information and the uses and users of internal and external financial statements.
Understand and explain the accounting conventions (including international standards), statutory requirements, business ethics and stakeholder requirements applied when preparing internal and external financial statements.
Prepare, analyse and interpret the external financial statements of a single entity limited company.
Understand and describe the role of financial management in firms and its relationship with other key management functions.
Understand and employ key financial management procedures and systems in the analysis of case study material.
Accounting conventions, terminology and concepts
Uses and users of published and internal financial statements and forecasts
Statutory and regulatory accounting and reporting frameworks national and international (IFRS, GAAP)
Financial accounting statements balance sheet; income statement; cash flow statement
Analysis and interpretation of financial statements, through percentages and ratios; the limitations of introspective ratio comparison
The finance function in a managerial context, including business ethics aspects
Formation of strategic financial goals and financial management strategies
The management of working capital (cash, inventories, debtors and creditors)
Budgetary control; variance analysis
Development of financial pathway analysis and the concept of goal congruence
Internal and external audit functions, ethics and corporate social responsibility.
The sessions will be organised in mainly 2.5-hour teaching blocks. Lectures will deliver core theoretical frameworks followed by tutorial sessions (including discussions and practical tasks).
Lectures and tutorials
Hours: 24
Intended Group size: Whole cohort
Guided independent study
Hours: 176
Further details relating to assessment
Examination questions in this module consist of scenario based case studies, designed to reflect current issues in both the module content and application of theory in the business environment. Questions are structured to allow students the opportunity of demonstrating assessment outcomes across knowledge, understanding and analysis, with particular emphasis on application and evaluation.
001 Exam 1 x 3 hours end of Term 1 100%
Module Coordinator - Mr Andrew Gilliland
Level - 7
Credit Value - 20
Pre-Requisites - NONE
Semester(s) Offered - T1