FINANCIAL MANAGEMENT FOR DECISION MAKERS

SHE Level 2
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M2N425510
Module Leader Alison Lehane
School Glasgow School for Business and Society
Subject Finance and Accounting
Trimester
  • A (September start)

Pre-Requisite Knowledge

Fundamentals in financial management(or equivalent)

Summary of Content

The module will consider aspects of accounting of key importance to management of entities. Students will be exposed to detailed analysis of accounting statements prepared using internationally recognised standards, short term and long term financing , financial governance, taxation and accounting techniques for decision making, planning and control. The module applies accounting to the needs of managers ensuring that students business knowledge will be broadened but will also value its relevance to their future career. The auditing function will allow for consideration of systems to ensure integrity of financial recording and reporting aligned to corporate governance principles in the pursuance of global corporate social responsibility.

Syllabus

The world of financial management within business Interpretation of financial reports Finance: Working Capital Management , and sources of finance Auditing: The nature and scope of auditing within organisational governance Short-term decision Analysis: Cost and income behaviour, Relevant Costing, Pricing and Decision Making process Long term decision making: Capital Investment Appraisal Budgetary planning and control Standard costing Divisional performance management Transfer Pricing

Learning Outcomes

On successful completion of the module the student should be able to:1) Understand the nature of working capital and identify sources of finance available to a business to ensure the day to day running of the business2) Interpret and analyse financial statements in the context of the role of the external auditor3) Critically review the techniques for analysing short-term and long-term decision related costs and benefits, undertaking evaluations of capital investment proposals4) Appreciate the nature and scope of budgets and standards for planning and control purposes within profit/not-for profit organisations

Teaching / Learning Strategy

There will be one 2 hour lecture per week throughout the module primarily for the delivery of the syllabus and a 1 hour seminar every week. The lecture delivery will be enhanced by a variety of forms including, where appropriate, videos, computer based models and other multimedia forms. Case studies matching the theoretical concepts to real-world scenarios will be used at the end of each subject area. The lectures will be supported by the GCULearn which will only be available to registered students. This site will contain general material for students including summaries of the basic lecture material (Powerpoint), mock examination papers, assessment instruments and access to the www. Seminars will enable students to deal with a pre-set discussion and practical questions, to organise and monitor progress in assigned group work and to make appropriate peer group presentations. Supplementary clinic sessions will be programmed as required to meet any further identified needs of students during the delivery of the teaching and learning assessment content. Group Coursework - students will work in groups and take on the role of the external auditors for Nifty Construction Ltd, a company where a fraud has been committed. Students will need to analyse and interpret the financial statements and prepare a list of questions to ask the directors of the company. Tutors will take on the role of the directors, answering the student's questions. Based on the findings of their discussion, and the analysis of the financial statements, each group will prepare a 2000 word report to the directors, identifying control weaknesses and making recommendations. Feedback will be provided to students as follows: 1. Students will be provided with feedback within three weeks of submission of all summative assessments providing information on strengths, weaknesses and suggestions for corrective action. The tutor will also provide feedback at the seminars where coursework will be handed back. Students may also discuss any points with their lecturer or tutor. 2. Formative feedback will be provided informally through seminar discussions on pre-prepared work. 3. Discussion boards will be used to encourage teacher and peer-to-peer dialogue on certain topic areas where this form of communication would be regarded as effective. Student feedback on teaching, learning and assessment will be sought at the end of the semester through a module evaluation questionnaire. GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCULearn to ensure student support and information sharing. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission.

Indicative Reading

MCLANEY, P., 2017. Financial Management for Decision Makers . 8th Ed. Harlow, Essex: Pearson. ATRIL, E. & MCLANEY, P., 2017. Accounting and Finance for Non-Specialists . 10th Ed. Harlow, Essex: Pearson. ARENS, A., ELDER, R. & BEASLEY, M., 2012. Auditing and Assurance Services: 1st Ed. An Integrated Approach. 14th Ed. London: Prentice Hall. WEETMAN, P. 2010., Management Accounting. 2nd Ed. London: Prentice Hall. Online sources: Module Web site on Blackboard VLE Companion Web site to accompany textbook

Transferrable Skills

By the end of this module students will have gained competence in the following key areas: Students will develop group working, oral group communication and presentation skills. Moreover they will enhance their numerical and written skills. An ability to solve problems, make decisions and assumptions by selecting, evaluation and interpreting data will underpin the module content. Use of information technology e.g. www and software applications for communication, presentation and learning will be embedded in the teaching, learning and assessment content.

Module Structure

Activity Total Hours
Assessment (FT) 40.00
Seminars (FT) 12.00
Lectures (FT) 24.00
Independent Learning (FT) 124.00

Assessment Methods

Component Duration Weighting Threshold Description
Group Rep n/a 40.00 35% Group report 2000 words
Exam (Exams Office) 2.00 60.00 35% 2 hour unseen exam