Module Identifier | RD24920 | ||||||||||||||
Module Title | BUSINESS PLANNING AND CONTROL | ||||||||||||||
Academic Year | 2007/2008 | ||||||||||||||
Co-ordinator | Mr Penri James | ||||||||||||||
Semester | Semester 2 (Taught over 2 semesters) | ||||||||||||||
Other staff | Mr Anthony O'Regan | ||||||||||||||
Mutually Exclusive | RD29010 Farm Management | ||||||||||||||
Course delivery | Lecture | 1 x 2 hour lecture per week | |||||||||||||
Practical | 8 x 3 hour practicals over two semesters | ||||||||||||||
Assessment |
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Outcome 1
Preparation of a business plan
Performance criteria:
a. Budgets are prepared and reconciled.
b. Objectives are identified and met.
c. Realism and prudence are demonstrated.
Ranges:
Financial statements - Balance sheet - Cash Flow - Trading Profit and Loss Account - Gross margins
Objectives:- Personal-Business
Resources:- Capital-Labour-Land
Planning:- Physical-Financial-Uncertainty-Risk
Outcome 2
Interpret and analyse a set of financial statements
Performance criteria:
a. Strengths and weaknesses of the financial statements are identified.
b. The underlying trends and variances are established.
c. Key aspects are recognised and reported.
Ranges:
Financial Statements:- Balance Sheet-Cash Flow-Trading Profit and Loss Account -Funds Flow Statement-Gross Margin Account
Data:- Physical-Financial-Comparative Analysis-Net Farm Income-Management and Investment Income
Variances:- Financial-Physical-Timing-Planning-Production
Outcome 3
Prepare an Investment plan, including appraisal and selection of appropriate finance
Performance criteria:
a. Relevant income and expenditure is identified.
b. Cash timings are identified and reported.
c. Suitable financing is suggested and interpretation of results is performed.
Ranges:
Financial:- Capital-Revenue
Timing:- Inflation-Discounting-Risk
Taxation:- Relief-Allowances
Outcome 4
Recognise the functions and scope of UK taxation.
Performance criteria:
a. Different taxes are identified and explained.
b. Income tax liability is calculated.
c. Tax planning is addressed.
Ranges:
Taxation:- IT-IHT-CGT-CT-VAT
Reliefs:- Capital-Revenue-Allowances
Scope:- Business-Personal
Outcome 5
Identify the merits of different business structures
Performance criteria:
a. Alternative business structures are identified.
b. Strengths and weaknesses of the structures are established.
c. A knowledge of the tax consequences is demonstrated.
Ranges:
Structures:- Partnership-Sole Trader-Company
Operation:- Taxation-Control-Flexibility-Reporting
This module is at CQFW Level 5