Gwybodaeth Modiwlau

Module Identifier
AB01320
Module Title
Economics, Finance and Accounting for Business
Academic Year
2020/2021
Co-ordinator
Semester
Semester 2
Other Staff

Course Delivery

 

Assessment

Assessment Type Assessment length / details Proportion
Semester Exam 1.5 Hours   30%
Semester Assessment 1 class test – 45 minutes (seen questions)  20%
Semester Assessment 1 class test – 45 minutes (multiple choice)  20%
Semester Assessment Group report  (1,500 words)  30%
Supplementary Exam 1.5 Hours   30%
Supplementary Assessment 1 class test – 45 minutes (seen questions)  20%
Supplementary Assessment 1 class test – 45 minutes (multiple choice)  20%
Supplementary Assessment Individual report  (1,000 words)  30%

Learning Outcomes

On successful completion of this module students should be able to:

1. Explain and discuss how markets inter-relate.

2. Describe and discuss how economic theory can apply to real world issues.

3. Explain the purpose of accounting in different types of organisations.

4. Interpret and adjust financial statements of a small company.

5. Explain, contrast and discuss alternative methods of sourcing finance.

6. Describe, explain and illustrate the business finance environment.

Brief description

The module introduces key concepts found in the areas of Economics, Finance and Accounting and to familiarise students with the language of Business.
Key areas include the internal and external Business environment, the operation of markets, sources of finance and the introduction to financial statements and simple accounting transactions.

Content

Content will be delivered through a mix of lectures focused on theory and application as well as more practical sessions using case study examples.

Content will cover:

Introduction to Microeconomics
- Markets and their role in Society
- Demand, Supply and market equilibrium
- Market structure: Perfect Competition, Monopoly,
- Oligopoly
- Income distribution, inequality, poverty and government policy

Introduction to Macroeconomics
- The circular flow of income
- Measuring National Income and Output
- Open Economy and Trade

Accounting
- Introduction to Accounting
- UK business organisations
- Measuring and reporting financial position of a company (Income statements and balance sheets)

Introduction to Finance
- Introduction to Financial Management
- Business Finance Environment
- Sources of Finance

Module Skills

Skills Type Skills details
Application of Number Analysis of company reports and other numerical data.
Communication Develop communications skills including discussion and listening skills. Improve literacy skills by reading and writing about marketing.
Improving own Learning and Performance Devise and apply realistic self-learning strategies, review and monitor overall performance, be aware of time management techniques.
Information Technology Use a range of commonly used software packages. Present information and data. Use email /internet appropriately and effectively.
Personal Development and Career planning Students will be able to use the skills learnt in this module to enhance their career opportunities. They will also be aware of the importance of organizing and managing sources of knowledge.
Problem solving Identify problems. Identify factors which might influence potential solutions. Develop creative thinking approaches to problem solving. Evaluate advantages and disadvantages of potential solutions. Construct a rational proposal in response to problem.
Research skills Carry out research into current thinking in the areas of marketing. Identify relevant source material and journal articles for assignments.
Subject Specific Skills Students will be aware of the importance of organizing and managing sources of knowledge and keeping up to date with the latest developments in management and marketing.
Team work Understand the concept of group dynamics, contribute effectively and participate in group discussions and group presentation.

Notes

This module is at CQFW Level 3