Mining and Minerals Engineering

CSM3303 - Accounting and Management (2012)

Back | Download as PDF
MODULE TITLEAccounting and Management CREDIT VALUE10
MODULE CODECSM3303 MODULE CONVENER Neill Wood V.R., A.R.S.M., F.H.E.A. (Coordinator)
DURATION: TERM 1 2 3
DURATION: WEEKS 11
Number of Students Taking Module (anticipated) 41
DESCRIPTION - summary of the module content

This module assumes no prior experience.  The objective is to provide students with an introduction to financial matters from several points of view.  Students should gain basic skills in the analysis of company accounts.  The needs and expectations of investors are explored through an understanding of key ratios.  These basic skills are then developed to describe their use as management tools.

By the end of the module, students should be better equipped to undertake management roles and to understand the relationship between business, investors and the wider economy.  The sklls are generic and can be applied in a wide range of business environments.

AIMS - intentions of the module

To equip candidates with the necessary management and financial skills necessary to apply fiscal control of operations and projects, including valuation and budgetary control. To enhance appreciation of the world of work from a management perspective.

INTENDED LEARNING OUTCOMES (ILOs) (see assessment section below for how ILOs will be assessed)

Module Specific Skills and Knowledge: Threshold Attainment

Accounting

1.Candidates should understand fundamental accounting postulates and the distinction between financial and management accounting.

2.Candidates should be able to describe the process through which a set of annual financial statements are prepared.

3.Candidates should be able to explain the content and headings of a given set of annual financial statements and explain how they are manipulated so that an assessment of company performance can be made.

4.Candidates should have learned how to conduct simple assessments of project value.

5.Candidates should understand the types of finance available for projects and investor requirements.

6.Candidates should understand the sources of financial risk and make suggestions for mitigation measures.

Principles of Industrial Management

7.Candidates should understand the place of business policy and the nature of management, authority and delegation.

8.Candidates should have understanding of both the development and content of theories of motivation, group behaviour and leadership.

9.Candidates should have understanding of personnel administration and wage payment systems

10.Candidates should have understanding types of organisational structure.

Module Specific Skills and Knowledge: Excellent Attainment

Accounting

1.Candidates should understand fundamental accounting postulates and the distinction between financial and management accounting.

2.Candidates should be able to organise the financial data to compose a set of annual financial statements (Position, Income and cash flow Statements) presented in a professional format.

3.Candidates should be able to conduct a critical analysis of a given set of annual financial statements so that an objective assessment of company performance can be synthesised and investment judgements formulated.

4.Candidates are able to extend the principles and techniques of project appraisal to novel types of investment decisions to produce reliable valuations that take due account of investment risk.

5.Candidates are able to identify appropriate sources of capital for business entities active in specific sectors, and to design robust capital structures for those entities.

6.Candidates have detailed understanding of financial risk and can routinely apply sensitivity analysis, scenario analysis and simulation techniques to project valuations.

Principles of Industrial Management

7.Candidates should understand the place of business policy and the nature of management, authority and delegation and be able to apply these concepts in management of their learning and personal development.

8.Candidates should be able to criticise theories of motivation, group behaviour and leadership, and be able to apply them to, or formulate novel strategies for, managing individuals, teams and workforces.

9.Candidates should be able to compose a critical appraisal of personnel administration and wage payment systems and propose improvements where necessary.

10.Candidates are able to suggest modifications to organisational structure that may enhance productivity in the context of the spectrum of environments of an organisation or will enhance the working conditions or job satisfaction of groups and individuals.

11.Candidates build upon previous lectures in project management to identify, assess and mitigate project risk.

Discipline Specific Skills and Knowledge:

1.The module intends that the analytical skills of candidates should be developed through the mode of learning. Candidates should be able to appreciate the range of analytical methods which can be applied and when each method is likely to be appropriate.

Personal and Key Transferable/ Employment Skills and  Knowledge:

1.This module focuses on the development of skills concerning the viability, finance and profitability of commercial and industrial concerns. Other personal and key skills attained by students should be: independent study developed through the mode of learning; ability to digest, select and organise material to produce, to a deadline, a coherent and cogent solution to a defined problem.

2.The assignment develops candidates essay and report writing skills

SYLLABUS PLAN - summary of the structure and academic content of the module

 

Finance and Management Accounting

The place of accounting in industry. Calculation of the profits of a company. The income statement (profit and loss account) and the position statement (balance sheet). The problems involved in measuring profits and the difference between profit and cash flow. Depreciation and its effect on profits and cash flow. Revenue based and profits based taxation. Sources of finance and capital budgeting. Management accounting. Full and marginal costing techniques. The treatment of fixed costs. Standard costing and budgetary control. Setting budgets and variance calculations. Allocation of shared costs amongst different products and by-product costing. Investment appraisal techniques. Return on investment and other traditional methods. The importance of discounting future cash flows. Net present value and internal rate of return methods. Using spreadsheets for investment calculations. Sensitivity analysis, scenario analysis and Monte Carlo simulation. The requirements of investors.

 

Principles of Industrial Management

Introduction to the principles and practice of management: organisation theory and administrative management. Industrial and applied psychology: behaviour of individuals and groups, motivation, leadership and group dynamics.   Formal and informal groups.   Effective communications in industry and the barriers to this. Personnel administration and labour relations. Wage payment systems, job evaluation and recruitment. Evolution and outlook of labour relations. The project life cycle and project risk assessment.

LEARNING AND TEACHING
LEARNING ACTIVITIES AND TEACHING METHODS (given in hours of study time)
Scheduled Learning & Teaching Activities 27.00 Guided Independent Study 73.00 Placement / Study Abroad
DETAILS OF LEARNING ACTIVITIES AND TEACHING METHODS

Category

Hours of study time

Description

Lectures with integrated tutorials

 

 

Computing Workshops

 

 

Student group working

 

 

Student led seminars

 

 

 

ASSESSMENT
FORMATIVE ASSESSMENT - for feedback and development purposes; does not count towards module grade
Form of Assessment Size of Assessment (e.g. duration/length) ILOs Assessed Feedback Method
       
       
       
       
       
SUMMATIVE ASSESSMENT (% of credit)
Coursework 50 Written Exams 50 Practical Exams
DETAILS OF SUMMATIVE ASSESSMENT
Form of Assessment % of Credit Size of Assessment (e.g. duration/length) ILOs Assessed Feedback Method
Examination 50 2 hours 1-10 Written
Preparation of an individual essay, typically a financial analysis or a review of quoted companies 50 Approx 2000 words

1-6, Key Skills 1-2

Written
         
         
         

 

DETAILS OF RE-ASSESSMENT (where required by referral or deferral)
Original Form of Assessment Form of Re-assessment ILOs Re-assessed Time Scale for Re-reassessment
Summative assessment Additional assessment As above August Ref/Def period
Examination Additional examination As above August Ref/Def period
       

 

RE-ASSESSMENT NOTES

As above 1 piece of CW 50% and/or 1 Exam 50%

RESOURCES
INDICATIVE LEARNING RESOURCES - The following list is offered as an indication of the type & level of
information that you are expected to consult. Further guidance will be provided by the Module Convener

Basic reading:

 

ELE:

 

Web based and Electronic Resources:

 

Other Resources:

 

Reading list for this module:

Type Author Title Edition Publisher Year ISBN Search
Set Barker, Richard Short Introduction to Accounting Cambridge University Press 978-0521179478 [Library]
Set Cole, G.A. Management. Theory & Practice 5th Letts Educational 1996 [Library]
Set Gray, E.R. and Smeltzer, L.R. Management: The Competitive Edge Macmillan 1989 [Library]
Set Wanless, R.M. Finance for Mine Management Chapman and Hall 1983 [Library]
Set Drury, C. Management and Cost Accounting 3rd Chapman and Hall 1992 [Library]
CREDIT VALUE 10 ECTS VALUE 5
PRE-REQUISITE MODULES None
CO-REQUISITE MODULES None
NQF LEVEL (FHEQ) 3 (NQF Level 6) AVAILABLE AS DISTANCE LEARNING No
ORIGIN DATE Monday 12 March 2012 LAST REVISION DATE Monday 26 November 2012
KEY WORDS SEARCH None Defined