MFM003-Building Value: Financial and Management Accounting Principles

Module Provider: Business Informatics, Systems and Accounting
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Summer term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites: PM1C Introduction to Professionalism and Practice and PM2D Delivering Pharmacy Services and PM3C Delivering Pharmacy Services 2
Modules excluded:
Current from: 2023/4

Module Convenor: Mr Emre Parlakkaya
Email: mehmetemre.parlakkaya@henley.ac.uk

Type of module:

Summary module description:

Building Value: Financial and Management Accounting Principles is a module which aims to develop students understanding of key financial information and core financial techniques that facilitate interpretation of data in order to create value through planning, controlling and decision-making activities. Students will be introduced to financial analysis tools and principles, as well as given the opportunity to study financial data from real organisations (pharmacy chains and case studies) to gain an understanding of how these are used to build and report value.

Aims:

The module aims to further develop students from the MPharm programme, allowing them a safe environment to begin to develop a thorough understanding of financial analysis techniques and develop an understanding of the importance and relevance of financial analysis tools to ensure the successful running of projects and organisations.

Assessable learning outcomes:

By the end of the module participants should be able to demonstrate knowledge and understanding of:

• The nature of financial information, its purpose and the context of its use in organisations


• Different types of financial information available, key financial techniques and their relevance to managers in planning, controlling and making decisions


• The principles underpinning the production and use of financial information


• Key aspects of economic theory and financial terminology, appreciating the distinction between financial and management accounting


• Economic theory and recognise its underpinning in the production and evaluation of financial information

Additional outcomes:

Developing skills for presenting financial data to staff or team members with a lesser understanding of financial analysis tools

Outline content:

The module aims to develop an appreciation of

• Key financial statements in terms of presentation, terminology and content


• The role of budgeting within an organisation’s planning process


• Different approaches to costing


• Techniques of decision analysis


• Financial information necessary that enable managers to make good decisions


• The assessment of performance and key financial measures of performance


• An assessment of organisational value


• Basic concepts of economic thinking


• Theories of supply and demand, markets and regulation and their relevance to the management of financial resources

Global context:

This module is a part of the Post Graduate Certificate in Business Administration programme for MPharm students.

Brief description of teaching and learning methods:

An asynchronous delivery approach comprising introductory workshops, facilitated on-line learning, personal study and assessment.

The module aims to develop an appreciation of

• Key financial statements in terms of presentation, terminology and content


• The role of budgeting within an organisation’s planning process


• Different approaches to costing


• Techniques of decision analysis


• Financial information necessary that enable managers to make good decisions


• The assessment of performance and key financial measures of performance


• An assessment of organisational value


• Basic concepts of economic thinking


• Theories of supply and demand, markets and regulation and their relevance to the management of financial resources

 

The mod ule aims to develop participants’:

• Knowledge and understanding of key financial and economic data that underpin the management function


• Ability to interpret financial data and economic issues in order to have confidence to communicate and use key concepts

Contact hours:

	Autumn	Spring	Summer
Practicals classes and workshops			13
Guided independent study:
Wider reading (independent)			127
Wider reading (directed)			60
Total hours by term	0	0	200
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Oral assessment and presentation	40
Set exercise	60

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

The assessment aims to test participants’ ability to apply learning from the course to analyse financial data, use key techniques and make recommendations.  The assessment will be via group work at the workshop where formative and summative assessment will be given (40% of the overall mark) and 60% of the overall mark will be based on individual analysis submitted at the end of the on-line learning.

Formative assessment methods:

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy “Penalties for late submission for Postgraduate Flexible programmes”, which can be found here: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmissionpgflexible.pdf
The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

40% pass mark for each assessment 

Reassessment arrangements:

Additional Costs (specified where applicable):

Last updated: 12 January 2023