|| RS25820 |
|| BUSINESS BUDGETING AND APPRAISAL |
|| 2003/2004 |
|| Mr Penri James |
|| Semester 2 (Taught over 2 semesters) |
| Course delivery
|| Lecture || 44 Hours 22 x 2 hour lectures |
|| Practical || 24 Hours 8 x 3 hours |
|Assessment Type||Assessment Length/Details||Proportion|
|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%|
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.
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.
.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
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
Barnard, C and Nix J S (1979) Farm planning and control
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
Farm incomes in the UK
MAFF (published annually)
Farm business survey
This module is at CQFW Level 5