| Module Identifier |
RS25820 |
| Module Title |
BUSINESS BUDGETING AND APPRAISAL |
| Academic Year |
2002/2003 |
| Co-ordinator |
Mr Penri James |
| Semester |
Semester 2 (Taught over 2 semesters) |
| Course delivery |
Lecture | 44 Hours 22 x 2 hour lectures |
| |
Practical | 24 Hours 8 x 3 hours |
| Assessment |
Semester Assessment | Business budgeting and appraisal assignment Outcomes assessed: 1, 2, 3, 4, 5, 6 | 100% |
| |
Supplementary Assessment | Re-presentation of assignment using modified data Outcomes assessed: 1, 2, 3, 4, 5, 6 | 100% |
Learning outcomes
On completion of this module, students should be able to:
1. Construct and analyse a set of financial statements
2. Describe the requirements when budgeting for businesses.
3. Identify the different techniques and resources available for budgeting.
4. Construct fully detailed farm business budgets (including financial statements).
5. Prepare an investment plan, including appraisal and selection of appropriate finance
6. Identify informational requirements of financial institutions in lending assessments.
Aims
Business budgeting, appraisal and investment are all essential aspects of management and necessary for successful business control. This module provides a comprehensive understanding of the concepts and principles involved in managing a business and incorporates analysing and solving business problems. In addition this module provides students with appraisal techniques essential for managers in controlling the business.
Transferable skills
.1 Independent project work
Business budgeting and appraisal assignment allows students to develop own ideas on the future direction of case study farm. This will be based on own collection of data and own analysis.
.2 IT and information handling
-
Case study submission is word processed.
-
Extensive use of spreadsheets for accounts/budget construction
-
Extensive data analysis using spreadsheets
.3 Use and analysis of numerical information
-
Preparation of farm budgets
-
Analysis of farm budgets
.6 Careers need awareness
-
Case study is based on a real life scenario which a student could be expected to encounter
.7 Self-management
-
The Business budgeting and appraisal assignment requires the selection and analysis of appropriate information, within a specified timescale, to allow for the development of a budget. The volume of information encountered will not see the assignment submitted within set deadlines if self management is not practised.
.8 Group activity
-
Farm visits are a group activity
Reading Lists
Books
Barnard, C and Nix J S. (1979)
Farm planning and control. 2nd. CUP
Norman and Coote.
The Farm Business.
Secrett M. (1993)
Mastering Spreadsheet Budget and Forecasts: A Practical Guide.
Throup, G.
Making profits with dairy cows and quota.
Turner, J and Taylor, M. (1998)
Applied farm management. 2nd. Blackwell Science
Warren, M F. (1998)
Financial management for farmers. 4th. Blackwell Science
Technical Reports
Farm incomes in the UK. MAFF (published annually)
Farm business survey. Published annually
Journals
CAP Monitor.
Agra Europ.