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|
|Duration of module:||
Duration (weeks) - term 1: |
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 Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Masterclass||21||Faculty-led workshops and seminars|
|Webinars||11||Online action learning set facilitated by module lead.|
|Professional development to underpin WBL project.||40||Guided independent study through online learning activities. Reading, case studies, professional practise forums.|
|Time at work||228||Time at work|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Feedback through webinars, including one webinar session based on the assignment||4 hours (1 hour per webinar)||1-11||Direct verbal|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Report||50||2,500 words||5-10||Written feedback and mark|
|Essay||50||2,500 words||1-4, 11||Written feedback and mark|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
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%
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?
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.
Last revision date