Module ACCT422D2: Accounting, Finance and Economics

Department: Accounting

ACCT422D2: Accounting, Finance and Economics

Prerequisites

• none

Corequisites

• none

Excluded Combination of Modules

• none

Aims

• To develop apprentices understanding of the external economic and financial context in which organisations operate and of the financial management of organisations.
• To enable apprentices to acquire and demonstrate knowledge and understanding of those elements of economic analysis that are relevant for managing in the global economy.
• To develop skills in the application of economic analysis in business decision making and planning.
• To develop a critical understanding of key economic aspects of the global business environment and the impact of changes in that environment at national and international levels.
• To provide apprentices with a critical appreciation of the financial tools of accounting and finance, in particular the techniques of financial statement analysis and investment appraisal.
• To provide apprentices with a critical understanding of the factors affecting the financial planning and risk assessment of a firm and of the financing and capital structure decisions, giving insight into topical issues.  

Content

• Microeconomics relevant to decision making in the global business environment
• Macroeconomics relevant to decision making in the global business environment
• Fundamental Concepts of Accounting
• Evaluating Financial Performance
• Working Capital Evaluation
• Financial Planning Techniques
• Long Term Investment Decisions
• Capital Structure Decisions
• Financial Risk Management

Learning Outcomes

• have an advanced knowledge and critical appreciation of the underlying fundamentals of the market system
• the importance of, and interaction between demand, costs and prices at the level of the firm and the market
• the inter-relationship between the competitive environment and business decisions
• the macro-economic environment, at national and global level
• the internationalisation of firms and multinational activity
• the key financial statements
• issues relating to working capital management
• the concepts of budgeting and short term decision analysis
• the factors affecting the capital structure and financing needs of a firm
• the fundamentals of financial markets in which firms operate
• the tools and techniques used in managing financial risks
• how managers make financial decisions in a world of uncertainty and imperfect information
• be able to appreciate the highly complex nature of the economic system within which business operates
• have developed a critical understanding of the importance of corporate and social responsibility, including the sustainability of economic activity, both at micro and macroeconomic level.  

• be able to apply their economic understanding in management decisions in the global context
• have practised problem solving and analytical skills in relation to managing in the global environment
• be competent at using key techniques for interpreting financial statements
• be able to use key techniques of investment appraisal
• be able to understand and apply techniques of cash budgeting and working capital management
• be adept at identifying and evaluating methods by which financial risks can be managed.  

• Written communication
• planning
• organising and time management
• problem solving and analysis
• using initiative
• computer literacy.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Learning outcomes are met through classroom-based workshops, supported by online resources. The workshops consist of a combination of taught input, groupwork, case studies and discussion. Online resources provide supplementary material for the workshops typically consisting of directed reading and video content.
• The formative assessment includes classroom-based exercises involving individual and group analysis of specific business situations/problems relevant to the learning outcomes of the module. Feedback will be given as appropriate.
• The summative assessment is a written assignment which requires apprentices to conduct an economic analysis of an aspect of a specific firm business environment and to establish the financial implications of relevant business decisions.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Regular self-assessment exercises involving economic analysis and interpretation, using computer aided assessment.

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University