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Financial Controls and Reporting


Management is a set of activities directed at an organisation’s resources with the aim of achieving organisational objectives in an efficient and effective manner.  To assist management in doing this, organisations utilise information systems, particularly financial information systems.

It is therefore critical to gain an understanding of principles underpinning effective financial resource planning, organisational objectives, policies and legal requirements relevant to resource usage. It is also important to monitor and control resource usage to ensure consistency and quality in the provision of products and services.

AIMS

The aim of this module is to enable participants to critically evaluate and appraise the performance of the organisation as a whole, and subsets within that organisation and to use accounting based information for planning,decision-making and control.

LEARNING OUTCOMES

A successful student should be able to demonstrate:

KNOWLEDGE AND UNDERSTANDING

K1

Evaluate the role of finance as a key functional area of management

K2

Explain how management information systems contribute to organisational decision making

K3

Identify internal and external financial factors that impact on the planning process and achievement of performance outcomes

INTELLECTUAL QUALITIES

I1

Identify and apply key theories of financial management to the organisation

I2

Use management information systems to appraise organisational performance

I3

Critically evaluate financial control and reporting to the organisation

I4

Analyse and reflect on own performance and that of others

PROFESSIONAL/PRACTICAL SKILLS

P1

Devise, prioritise and justify development plans to address identified needs in line with organisational priorities

P2

Conduct an appraisal of an organisation’s financial and non-financial business performance using appropriate models, instruments and techniques and make substantiated recommendations for improvement

P3

Source and analyse information, and effectively present findings, conclusions and recommendations

P4

Evaluate the contribution of the finance function to overall organisational effectiveness.

TRANSFERABLE SKILLS

T1

Communicate ideas and arguments effectively, verbally and in written form, drawing on academic conventions, as appropriate

T2

Make informed decisions and justify proposed actions

T3

Use ICT effectively to source and present information

T4

Engage in self-reflection to inform future action; seek and act upon feedback from others; act strategically to achieve required outcomes.

        

CONTENT

Resources and Financial Management                      

  • Establish Financial Objectives
  • Appreciate the role of the manager in financial management
  • Financial Reporting: Key Financial Statements
  • The Profit and Loss Account/Income and Expenditure Statement
  • The Balance Sheet
  • The Cash Flow Statement
  • Interpretation of the Statements: Key Ratios

Understanding Costs

  • The significance of cost information to managers
  • Elements of cost
  • Key costing techniques
  • Long-term decision-making and capital expenditure evaluation

Budgeting

  • The objectives of budget setting
  • The main causes of variances and how to identify them
  • Business planning

Financial Controls

  • Identification of key financial controls
  • Types of fraudulent activity
  • Fraud prevention
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Take a look at these articles, videos and links
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Customer Contact Organisations
Customer Contact Technology
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Effective Customer Contact Centre Operations
Industry Investigation
Innovation and Change Project
Introduction to Planning
Leadership and Building Teams
Operations and Quality Systems
Principles of Project Management
The Customer Contact Environment
Understanding Resources
You and Your Development


 

Select the event below to see more detail

2017 Summer Graduation

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