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Module

Business Finance

Module description

This module will cover financial management skills that are essential for non-financial managers.  Financial acumen enhances decision-making skills and this module is designed to enhance student’s confidence and credibility in financial management.

Students will explore financial strategies, including budgets, financial management and accounting, in line with regulatory and organisational guidelines looking at the commercial context in an organisational setting, and how this changes over time.

Students will also consider approaches to procurement and contracting, and legal requirements as well as manage budgets, control expenditure and produce financial reports.

Full module specification

Module title:Business Finance
Module code:BEM3015DA
Module level:3
Academic year:2021/2
Module lecturers:
  • Mrs Rachael Johnstone - Lecturer
Module credit:30
ECTS value:

15

Pre-requisites:

None

Co-requisites:

None

Duration of module: Duration (weeks) - term 1:

11

Module aims

The aim of the module is to provide managers with core accounting and finance knowledge and methods to aide the decision making process, gain confidence and credibility in financial management.

ILO: Module-specific skills

  • 1. evaluate the importance of strategic financial management in relation to the organisational strategy
  • 2. assess the key elements of financial planning
  • 3. evaluate the use of procurement and contracting and analyse their use within the context of own organisation
  • 4. assess the legal requirements around procurement and contracting and how to comply with these
  • 5. identify how a budget can be produced taking into account financial constraints and achievement of targets, legal requirements and accounting conventions

ILO: Discipline-specific skills

  • 6. create and analyse financial reports
  • 7. assess the commercial context that own organisation operates within
  • 8. access financial data, assess its validity and produce clear financial reports that analyse data and draw conclusions

ILO: Personal and key skills

  • 9. use technical and relational skills to manage finances
  • 10. articulate financial management strategies to support decision making
  • 11. demonstrate an understanding of legal and organisational requirements and the impact on Financial management

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad
260400

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Masterclass21Faculty-led workshops and seminars
Webinars11Online action learning set facilitated by module lead.
Professional development to underpin WBL project.40Guided independent study through online learning activities. Reading, case studies, professional practise forums.
Time at work228Time at work

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Feedback through webinars, including one webinar session based on the assignment4 hours (1 hour per webinar)1-11Direct verbal

Summative assessment (% of credit)

CourseworkWritten examsPractical exams
10000

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Report502,500 words5-10Written feedback and mark
Essay502,500 words1-4, 11Written feedback and mark

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
ReportReport5-10August
EssayEssay1-4, 11August

Re-assessment notes

All passed components of the module will be rolled forward and will not be reassessed in the event of module failure.

Defer – as first time

Refer – capped at 40%

Syllabus plan

Week 1 – Introduction to the module, the difference between Management and Financial Accounting

Week 2 – Masterclass, discussion and exercises around the content of weeks 1-5

Week 3 – Financial Accounting and creating financial reports

Week 4 – Financial Accounting analysing Financial reports and ratios

Week 5 – Management accounting, cost behaviours and creating budgets

Week 6 – Management accounting variance analysis

Week 7 – masterclass, discussion and exercises around the content of weeks 6-9

Week 8 – Decision making tools, procurement and contracting

Week 9 – assignment writing

Week 11 – assignment writing and submission

Indicative learning resources - Basic reading

Scott, P. (2019). ACCOUNTING FOR BUSINESS (3rd ed.). Oxford University Press.

Wood, F. (2018). Frank Woods Business Accounting Volume 1 (14th New edition). Pearson Education Ltd.

Wood, F., & Sangster, A. (2018). Frank Wood’s Business Accounting Volume 2 (14th New edition). Coronet Books Inc.

Lysons, K. (2016). Procurement & Supply Chain Management, 9th ed. (9th ed.). Trans-Atlantic Publications, Inc.

Module has an active ELE page?

Yes

Indicative learning resources - Web based and electronic resources

CMI - Management Direct - an online management resource portal. Management Direct allows managers at any level to learn, research and think. It offers fast, 24-hour access to the latest digital content to help overcome hundreds of managerial challenges from absence to performance to change: 5 minute, 20 minute and extended briefings; Creative tools for problem solving; Hundreds of checklists and interactive scenarios to aid self-directed learning; Self-Assessments and automatic CPD recording/reporting; Document templates and best practice guides.

Origin date

13/10/2020

Last revision date

13/01/2021