Financial Decision-Making and Control Module

Financial decisions and their implications are required to be considered by all organisations. The accounting function cannot be viewed in isolation form the other key functional areas of management and it is important therefore, that managers understand the integrative nature of financial decision-making both at an operational and strategic level.

The aim of the module is to provide participants with an introduction to the financial issues and techniques involved in managerial decision-making and control. The module will also aim to develop integrative, analytical, reflective and managerial decision-making skills.

Learning Outcomes

Successful participants will be able to:

1.Demonstrate knowledge of the effect financial decisions have on the financial performance and position of a business and comment authoritatively on financial decision-making processes.

2.Identify, analyse and synthesize materials from primary and secondary source materials that assist in the understanding of accounting

3.Interpret financial statements intelligently and appreciate the role of financial techniques as an aid to managerial decision making and control

4.Develop a range of transferable skills, including problem solving and analysis, team working, communication and critical reflection.

Assessment Task

Students will be required to work in groups to prepare a group assessment on the topic of financial statement analysis. In addition, individuals within each group will be required to prepare an individual learning log, copies of which must be submitted with the group assignment.  Groups will be required to state if all members of the group have contributed equally to the group element of the assignment.

75% of the marks for the group assignment will be awarded for the group element while the remaining 25% will be awarded for the completion of the individual learning log.

NOTE: in order to deal with FREE RIDING BEHAVIOUR a peer review system will be in operation. Students will be required to assess the contribution which each member of the group has made to the group assignment.  If all group members have contributed equally, they should be assessed as 100% contribution.  When group members have not contributed equally, they should be assessed based on a scale of 100% - 0%.  Students not contributing equally to the group assignment will receive a mark as follows: (group mark achieved * average mark based on the remaining group members assessment of contribution)[ For example, a group of four receive a mark of 67% for the group element of the assignment.  One group member has not contributed equally, the three other group members indicating that this member contributed 65%, 60% and 62% to the group element of the assignment.  An average of (65%+60%+62%) is calculated to give 62.3%.  The student who did not contribute equally will therefore receive a mark of (67% * 62.3%) = 41.7%.  As illustrated, non-equal contribution can have a significant impact on the mark awarded for the group element of the assignment.].  PLEASE NOTE: non-equal contribution can significantly impact your final mark for the group element of the assignment.

Learning Outcomes

1)The assignment should take the form of a written report (which forms 75% of the mark). The maximum word count is 3,500 words (excluding appendices).

2)In addition to the above, each group member is required to complete and submit an individual learning log (which is the remaining 25%).  The maximum word count is 1,500 words for the learning log.  The aim of the learning log is to require members of the group to:

a)reflect on their contribution to the group component of the assignment and what they have learnt about themselves as a result;

b)consider how the group assignment has facilitated their understanding of accounting and finance as a subject area;

c)reflect on how their knowledge of accounting and finance might contribute to their performance in the workplace.

3)Detailed guidance will be given in Week 1 lecture.

4)This element of coursework accounts for 100% of the overall assessment. Students should refer to the marking criteria outlined on pages 9 and 10 to provide them with fuller details of marking criteria for each classification band.

5)Completed assignments (including the group element and the individual learning logs) must be submitted via Turnitin by Tuesday Week 12.  An electronic copy of the completed assignment should also be emailed to your lecturer by the deadline.

6)View additional ‘Standard Assessment Guidance,’ for further guidance applicable to all coursework elements.

Feedback on the assessment will be provided via Blackboard three weeks from the submission date).

·Formative feedback regarding progress, problems encountered and approaches to the assignment will be provided to students on a weekly basis during the first six weeks of the module.

·Summative feedback – the marked assignment will be returned to students three weeks after the submission date.  Both written and oral feedback regarding the standard of work submitted will be provided.

The following guidance is applicable to all coursework items.

1)Marks are awarded for content, quality of discussion and effective use of referencing.  To achieve high marks, students will be expected to demonstrate a familiarity with the wider literature in the subject area, and not merely an ability to re-produce the lecture notes.  Higher marks will also be awarded to students who provide strong evidence of analysis and critical evaluation of the various concepts and techniques identified and their application to real world situations.  

2)Work should include references to journal articles and other relevant publications, and should be properly laid out using the Harvard system of referencing as indicated below: