SHE Level 1
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M1N412828
Module Leader Charlotte Craig
School INTO
Subject INTO
  • B (January start)

Pre-Requisite Knowledge

Introduction to Ecomonic Analysis and Introduction to Financial Analysis

Summary of Content

The rationale for this module is for students to understand that the effective use of accounting and economic information is a vital part of the financial process. This module aims to develop the understanding of this information for the use by financial advisers, investors, insurers, or risk managers.


1. The role played by financial accounting in the financial processes; 2. Accounting Standards - world wide 3. Review company performance using the accounts and ratios 4. The Costing Process including fixed/variable and sunk costs and their implications for the costing of new products 6. Budgeting 7. Economic Growth and GDP/GNP 8. The stock market and how economic factors can affect it 9. Liberalisation, globalisation and the WTO 10. Globalisation of stock markets 11. Foreign Exchange and exchange control 12. The role of Government intervention in an economy

Learning Outcomes

On successful completion of this module, the student should be able to: 1. Understand the role played by financial accounts and financial processes;2. Appreciate the uses of domestic/international financial reports produced for a variety of business types and organisations; 3. Use selectively the content of financial reports in the assessment of the financial performance and position of a business; 4. Understand costing and sunk costing on products and services profits;5. Explain the difference between fixed and variable costs and their implications;6. Appreciate the budget process and the use of cash projections in financial processes7. Understand the problems caused by economic growth8. Discuss globalisation and its implications for financial services9. Explain the impact of economic factors on the stock market10. Appreciate the problems of international diversification 11. Discuss major currency issues including the Euro and exchange rates.12. Discuss the role of Government intervention in an economy

Teaching / Learning Strategy

There will be two hours of lectures each week. The lectures will introduce the main theoretical content and will concentrate on the practical application of the theory. The lectures will be delivered in a variety of forms including computer based and inter-active as appropriate. Where appropriate, web-based material will also be used to compliment the lectures. The lectures will be supported by a dedicated Bb site. In the first instance this will contain general material including Computer Assisted Learning (CAL) to encourage independent study. This material will be augmented progressively to include such items such as summaries of the basic lecture material, on-line assessments, past examination papers, assessment details etc. There will also be one seminar a week to enable students to deal with pre-set discussion material and practical questions. Students are expected to keep up to date with the relevant reading and to attempt questions prior to the seminar, where they will be asked to participate and present solutions. Supplementary clinic sessions will be programmed as required to meet any further identified needs of students. Feedback Strategy Students will be provided with feedback within two weeks of submission of all summative assessments. The following strategies will be adopted: A: Facilitating the development of self-assessment The on-line assessments are self regulating in that students will record their own performance. B: Encouraging teacher and peer dialogue The tutor will provide feedback at the seminars where coursework and other work done by students will be handed back. Bb discussion boards will be used to encourage teacher and peer-to-peer dialogue. C: Clarifying good performance The Bb site will be used to feedback overall performance by students on all summative assessments highlighting overall strengths and weaknesses D: Providing opportunities to close the gap between current and desired performance Students will be expected use any on-line assessments. In providing feedback for the Class Tests, the lecturer will provide action points for students to follow to enable them to improve their performance. At feedback sessions in seminars, students will be asked to identify their own action points, based on the feedback they have just received to involve students more in the generation and planned use of feedback. E: Delivering high quality information about their learning Formative feedback will be provided via online testing and informal seminar discussions on pre-prepared work. Feedback will be provided for summative assessments within two weeks and this will provide information on strengths, weaknesses and suggestions for corrective action. Students may also discuss any points with their lecturer or tutor. F: Encouraging positive motivational beliefs and self esteem Feedback given to students will aim to be positive and constructive, with action points for improvement. Formative assessment will be used that will give opportunities for students to receive individual feedback designed to encourage positive motivational belief and self-esteem. G: Providing information to teachers that can be used to shape the teaching The Electronic Voting System (EVS) will enable more formative assessment as well as investigating areas where students are having difficulty in the course. Moreover, student feedback on teaching, learning and assessment will be sought through the staff-student consultative group as well as the end of semester module evaluation questionnaire.

Indicative Reading

Atrill, P. and McLaney, E. (2006). Accounting & Finance for Non-Specialists, 5th ed Financial Times/Prentice Hall Wood, F. and Sangster, A. (2005) Business Accounting Volume 1, 10th ed Financial Times/Prentice Hall Dyson J, R. (2004) Accounting for Non-Accounting Students, 6th ed Financial Times/Prentice Hall Heather, K, Economics, Theory in Action, 4th Ed. 2004, Pearson Education. Sloman, J, Essentials of Economics, 4th Ed. 2007, Pearson Education. McKenzie , W. (2003) FT Guide to Using and Interpreting Company Accounts, 3rd ed Financial Times/Prentice Hall Newpapers and Journals: Financial Times Economist Websites: In addition students will be required to access the following websites:

Transferrable Skills

Effective problem solving and decision making using appropriate quantitative and qualitative skills - reflected in formative Class Tests Effective oral and written communication skills - as developed within seminars Numeracy and quantitative skills - reflected in all instruments of assessments Selection, evaluation and interpretation of relevant information - reflected in seminar contributions. Effective use of Communication and Technology - reflected in the use of Bb.

Module Structure

Activity Total Hours
Lectures (FT) 24.00
Assessment (PT) 24.00
Independent Learning (FT) 140.00
Seminars (PT) 12.00
Seminars (FT) 12.00
Lectures (PT) 24.00
Assessment (FT) 24.00
Independent Learning (PT) 140.00

Assessment Methods

Component Duration Weighting Threshold Description
Coursework 0.00 20.00 35% Essay (Economics) 1,000 Words
Exam (School) 2.00 60.00 35% Class Test
Coursework 0.00 20.00 35% Essay (Accounting) 1,000 Words