ACCT422D2: Accounting, Finance and Economics

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• To develop apprentices understanding of the external economic and financial context in which organisations operate and of the financial management of organisations.
• To enable apprentices to acquire and demonstrate knowledge and understanding of those elements of economic analysis that are relevant for managing in the global economy.
• To develop skills in the application of economic analysis in business decision making and planning.
• To develop a critical understanding of key economic aspects of the global business environment and the impact of changes in that environment at national and international levels.
• To provide apprentices with a critical appreciation of the financial tools of accounting and finance, in particular the techniques of financial statement analysis and investment appraisal.
• To provide apprentices with a critical understanding of the factors affecting the financial planning and risk assessment of a firm and of the financing and capital structure decisions, giving insight into topical issues.

• Microeconomics relevant to decision making in the global business environment
• Macroeconomics relevant to decision making in the global business environment
• Fundamental Concepts of Accounting
• Evaluating Financial Performance
• Working Capital Evaluation
• Financial Planning Techniques
• Long Term Investment Decisions
• Capital Structure Decisions
• Financial Risk Management

Subject-specific Knowledge:

• have an advanced knowledge and critical appreciation of the underlying fundamentals of the market system
• the importance of, and interaction between demand, costs and prices at the level of the firm and the market
• the inter-relationship between the competitive environment and business decisions
• the macro-economic environment, at national and global level
• the internationalisation of firms and multinational activity
• the key financial statements
• issues relating to working capital management
• the concepts of budgeting and short term decision analysis
• the factors affecting the capital structure and financing needs of a firm
• the fundamentals of financial markets in which firms operate
• the tools and techniques used in managing financial risks
• how managers make financial decisions in a world of uncertainty and imperfect information
• be able to appreciate the highly complex nature of the economic system within which business operates
• have developed a critical understanding of the importance of corporate and social responsibility, including the sustainability of economic activity, both at micro and macroeconomic level.

Subject-specific Skills:

• be able to apply their economic understanding in management decisions in the global context
• have practised problem solving and analytical skills in relation to managing in the global environment
• be competent at using key techniques for interpreting financial statements
• be able to use key techniques of investment appraisal
• be able to understand and apply techniques of cash budgeting and working capital management
• be adept at identifying and evaluating methods by which financial risks can be managed.

Key Skills:

• Written communication
• planning
• organising and time management
• problem solving and analysis
• using initiative
• computer literacy.

• Learning outcomes are met through classroom-based workshops, supported by online resources. The workshops consist of a combination of taught input, groupwork, case studies and discussion. Online resources provide supplementary material for the workshops typically consisting of directed reading and video content.
• The formative assessment includes classroom-based exercises involving individual and group analysis of specific business situations/problems relevant to the learning outcomes of the module. Feedback will be given as appropriate.
• The summative assessment is a written assignment which requires apprentices to conduct an economic analysis of an aspect of a specific firm business environment and to establish the financial implications of relevant business decisions.

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