791-323 Business and Financial Management

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Objectives:

The objective of this subject is to develop students' ability to:

• identify the major types of financial analysis and their functions;

• interpret information from selected financial analysis;

• identify the need for different types of budgets in the management of the business;

• prepare budgets for selected areas; and

• identify strategies for effective management of economic resources of a production unit.

Content:

Financial analysis: types and purposes, balance sheets, profit/loss, cashflow, break even. Historical cost accounting - strengths/weaknesses; Cost - volume - profit relationships; Costs for decision making - fixed incremental, marginal, sunk, opportunity; Cost classifications; Fixed; Evaluation and selection of investment projects; Cost of capital; Discounted cash flow analysis; Sources of finance; Working capital management; Financial modelling; Pricing decisions; Budgets - flexible vs static; Decision making under varying conditions of risk; Reporting; Forecasting; Risk analysis; Financial structure of companies and implications for financial decisions.

Assessment: