Business Finance

Module title	Business Finance
Module code	BEM3015DA
Academic year	2021/2
Credits	30
Module staff	Mrs Rachael Johnstone (Lecturer)

Duration: Term	1	2	3
Duration: Weeks	11

Number students taking module (anticipated)	40

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.

Module aims - intentions of the module

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.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

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

On successfully completing the module you will be able to...

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

On successfully completing the module you will be able to...

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

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

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

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
260	40	0

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

Formative assessment

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
100	0	0

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
Report	Report	5-10	August
Essay	Essay	1-4, 11	August

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%

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.

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.

Key words search

Business Finance, CMDA

Credit value	30
Module ECTS	15
Module pre-requisites	None
Module co-requisites	None
NQF level (module)	6
Available as distance learning?	Yes
Origin date	13/10/2020
Last revision date	13/01/2021