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Managing Financial Resources

  • Module code: BA5501
  • Year: 2018/9
  • Level: 5
  • Credits: 30
  • Pre-requisites: None
  • Co-requisites: None

Summary

This module introduces you to managing financial resources in a business context. The module emphasizes the understanding and interpretation of financial information rather than the construction of financial data. It provides you with the analytical skills of how the financial statements of public listed companies can be analysed. This module also considers the fundamental concepts of management accounting and builds on them to provide you with an explanation of the diagnostic skills necessary to make many short, medium and long term operating decisions within an organisation. Numerical aspects are balanced by the need to understand the usefulness of the information to users.

Aims

  • To develop an appreciation of the underlying concepts on which accounting is founded
  • To develop understanding of theoretical considerations and practical applications of financial and management accounting through a range of contemporary business topics
  • To provide an introduction to using and managing financial information in real business situations.

Learning outcomes

On successful completion of the module, students will be able to:

  • Explain the purpose of accounting in the context of different users of accounting information
  • Analyse and interpret financial statements and management accounting information
  • Make decisions based on financial information and non-financial considerations
  • Communicate decisions made to other members of the organisation
  • Suggest corrective action to improve future performance.

Curriculum content

  • Purpose of accounting; users of financial information and their needs
  • Shareholder value and corporate governance
  • Main accounting principles
  • Interpreting financial statements using financial ratios
  • Manufacturing accounting systems and control
  • Accounting and operational decisions
  • Accounting and human resource decisions
  • Overhead allocation
  • Capital investment decisions
  • Divisional performance
  • Budgeting
  • Strategic management accounting.

Teaching and learning strategy

Teaching and learning will comprise a combination of lectures and practical workshops. Students are expected to prepare and participate in workshop sessions and complete background reading as indicated. Students will be expected to access articles and contemporary business and accounting trade journals via the Learning Resources Centre or via web-based sources.

Breakdown of Teaching and Learning Hours

Definitive UNISTATS Category Indicative Description Hours
Scheduled learning and teaching Lab-sessions and lectures 66
Guided independent study Worksheets and guided study 234
Total (number of credits x 10) 300

Assessment strategy

There are two major categories of assessment: written exam 1 and written exam 2 . Written exam 1 contains two 45 minutes, in-class MCQ tests which will assess students on the majority of the curriculum. Written exam 2, 3 hours in duration, will allow for more in-depth assessment of particular topics.

  • Written Exam 1: 40%
  • Written Exam 2: 60%

Formative assessment is through:

  • Regular additional on-line tests, providing immediate feedback, for students.
  • Regular material, provided in advance on StudySpace, and problem sheets, to be covered in class.


Calculator Policy:

Students will be expected to bring only the approved calculators to each lesson and in particular to the summative assessments. Calculators with specifications  other than those contained in the list will not be permitted to for use during assessments.

Please visit the following link for approved list of calculators:

https://mykingston.kingston.ac.uk/myuni/exams/Documents/Calculator%20Policy%20Oct%202010.pdf (only accessible to current students)

Mapping of Learning Outcomes to Assessment Strategy (Indicative)

Learning Outcome Assessment Strategy
1) Explain the purpose of accounting in the context of different users of accounting information Formative tests/homework, Summative OMR Tests and exam
2) Analyse and interpret financial statements and management accounting information Formative tests/homework, Summative OMR Tests and exam
3) Make decisions based on financial information and non-financial considerations Formative tests/homework,Summative OMR Tests and exam
4) Communicate decisions made to other members of the organisation Exam
5) Suggest corrective action to improve future performance Exam

Elements of Assessment

Description of Assessment Definitive UNISTATS Categories Percentage
Two OMR Multiple choice tests Written Exam 1 40%
Unseen exam Written Exam 2 60%
Total (to equal 100%) 100%

Achieving a pass

It IS NOT a requirement that any major assessment category is passed separately in order to achieve an overall pass for the module.

Bibliography core texts

Black, G. & Al-Kilani, M. Accounting and Finance for Business, Pearson (Latest edition)

Bibliography recommended reading

Atrill, P. & McLaney, E. Management Accounting for Decision Makers, Financial Times Prentice Hall
Collier, P. M. Accounting for Managers, Interpreting Accounting Information for Decision Making, John Wiley & Sons Ltd
Dyson, J. Accounting for Non-Accounting Students, Prentice Hall / Financial Times

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