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Module Title
LC Managing Financial Resources
School
Birmingham Business School
Department
Accounting
Module Code
07 31687
Module Lead
Ann-Christine Frandsen/Julie McDonald
Level
Certificate Level
Credits
20
Semester
Semester 2
Pre-requisites
Co-requisites
Restrictions
None
Exclusions
Description
The purpose of the module is to examine and understand how financial resources are managed. It provides the theoretical under-pinning and an understanding of the technical aspects for future study in business, so that students understand and can apply theory and practical techniques to contemporary examples and cases. The module examines understanding and interpreting corporate financial reports and accounts; understanding and interpreting costs and budgets and how these are used for decision making, and sources of finance. It provides an introduction to management accounting and its role in supporting the management of business entities, with particular focus on large organisations. Attention is given to the use of accounting information in making decisions, in producing plans, in the monitoring and control of operations, and in relating to the external financial environment. The approach concentrates on an understanding of the basis and limitations of financial accounting and management accounting information to permit its application and adaptation to business practice rather than the detailed operation of accounting systems and procedures. There is specific recognition of aspects of the economic context including financial markets and those for goods and services; behavioural considerations; uncertainty and the role of perception.
Learning Outcomes
By the end of the module, students should be able to:
Explain the need for the provision of accounting information
Explain the framework within which financial performance is evaluated and reported.
Produce simple financial statements, discuss alternative valuation approaches and calculate and critique financial ratios.
Discuss the information revealed in published financial reports.
Evaluate the use of management accounting in the operation of business entities;
Explain how management accounting relates to financial accounting and the relevance for financial markets;
Apply appropriate accounting techniques to a range of management tasks;
Demonstrate understanding of the nature of profit and cost, giving attention to cash, cost behaviour, overheads, contribution, opportunity cost;
Extend the application of management techniques to an analysis of business cases.
Describe the various different sources of finance available to business ventures in general and limited companies in particular