FIN600 Financial management can be described as the process of planning, controlling and evaluating financial decisions to achieve an organization's financial goals. One of the assumed objectives of financial management is to maximize shareholder wealth. All investment and financing decisions, including dividend distribution, are made with this objective in mind.
This introductory module Outlines the financial functions of an organization, including the basic types of financial structures, systems, and functions that exist within them. It examines the role of accounting in financial decision-making and introduces you to the complementary functions of financial accounting and management accounting, which are the focus of the rest of the topic. It also discusses the regulatory environment that governs financial accounting. In addition, in order to make financial management decisions, we need reliable and consistent information about the economic events surrounding the organization's resources. We extend this discussion when we examine the concepts and operational practices of basic financial accounting. This includes a brief introduction to the accounting transaction recording process. GPA Expert
This topic provides an understanding of the factors that influence financial management practices. This module will help you achieve the following goals: 1. Apply key theories and principles of financial management in different contexts; 2. Critically assess the role and content of the four major financial statements as sources of quantitative data and their impact on business decisions; 3. Use effective strategies to critically analyze financial statements and apply accounting information to make informed management decisions.
This unit will cover:
Theme 1: Financial Management and organization
Introduce finance as a management function. Explain what accounting is and why it is important to financial management. What are the key aspects of accounting definition. Describe financial accounting and management accounting and explain their application to organizational management. Types of business organizations. Identify the main forms of business organization, including the advantages and disadvantages of each form: 1. Sole trader; 2. Partnership; 3. Company; 4. Trust. GPA Expert
Theme 2: Accounting concepts
The second theme is divided into two parts: re-examining the role of accounting and the basic concept of financial statements.
It includes assets, liabilities, equity and income. Explain accrual accounting and cash accounting, transaction recording process, explain accounting transaction recording process, the nature and valuation of inventory, inventory valuation methods - FIFO, LIFO, etc.
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