The module aims to provide students with an understanding of the responsibilities of organizations to various stakeholders, the context of financial information requirements and interpretation of financial statements. It helps students to understand how managers exercise control of financial resources and make financial decisions, in order to optimize shareholder wealth., it also provide students with an understanding of the value chain and how financial resources can be managed to add value, and how linkages between financial resources and value systems are created for competitive advantage. In addition, it helps students to understand how and from where business can raise capital.
A. Discuss the scope of responsibilities of organizations and specify the role of financial resources within that context.
B. Evaluate the financial resources available to an organisation.
C. Analyse and interpret basic financial statements in compliance with the international accounting standards IAS1 and IAS7.
D. Understand the tools of the management of financial resources in terms of, inter alia, financial reporting, management accounting and financial management.
E. Demonstrate how and where the value chains within organisations may be measured and assessed.
F. Determine basic financial decisions based upon short-term and long-term criteria.
G. Understand the conceptual basis of financial reporting and financial structure.
The module will involve a range of teaching strategies from lectures, seminars, coursework, independent single student and independent group work. Additional material will be in the form of directed WEB based reading and research, selected texts, journal articles and contemporary professional journal and press articles. Independent research and study will be encouraged at all stages to promote and develop learning that will be useful to students throughout their subsequent careers. Significant techniques will be learnt in the lectures that will facilitate understanding of financial resource management. The instruction on these models and techniques will be reinforced through seminar programmes and other directed student activities.
Students on the MBA programme will be exposed to a number of business cases where practical problems are analysed, discussed and assessed in both single and group work settings. Students are encouraged to participate actively in group work settings to encourage both self-learning and team learning in a small peer group environment. This will facilitate the development of a deeper understanding of managing financial resources in the context of an environment where team work and cooperation are important to achieve organisational objectives.