THE BACHELOR S DEGREE IN FINANCE MANAGEMENT. B: FM (Hons)

Transcription

1 THE BACHELOR S DEGREE IN FINANCE MANAGEMENT B: FM (Hons)

2 B FM Year I FIN 1129 Accounting I NQF Levels 7 Credits 15 Evaluate and calculate business financials. Set up and maintain various business registers. Financials Balance sheet, profit and loss account, a cash flow report and recognize the adjustments that need to be made to the financials where necessary. Basic principles of costing techniques, including capital investment appraisal, discounted cash flow methods and use of the pay back accounting rate of return method. Demonstrate how to calculate a range of basic financial ratios. Principles of cost behaviour including direct, indirect, fixed and variable costs, break-even analysis. Financial Record Keeping Prepare a balance sheet To prepare and maintain various accounts books for different account transactions. BAN 1117 Business Communication I NQF Level 7 Credits 14 Analyze the ways speaking, listening and audio visual aids are used in business. Illustrate the purpose of Business Communication. Explain the communication process using the Communication Theory. Demonstrate the communication process in Business Communication. Comprehend and describe the various tools used in Business Communication. Communication Theory. Apply communication theory. Employ techniques for eliminating barriers to effective communication. Communication Theory Communication theory Techniques for eliminating barriers to effective communication Language Use applied linguistics theories to analyze business communications particularly spoken language. Importance of listening skills and acquire techniques to so graduates can train good listeners in business situations. 2

3 Learning how professional speeches and presentations are planned and delivered. Develop policies on to use the telephone, fax and effectively and efficiently. Meetings Analyse the reasons for types of meetings that take place in business organizations. Appreciate the steps for planning successful meetings and interviews. Different documents required for formal meetings. Develop policies for preparing for meetings Interviews Analyse the reasons for types of interviews that take place in business organizations. Analyze and apply the research findings to designing different types of interviews Research on different types of questions that may be asked at interviews. Advertisements Principles of advertisements Apply the principles of advertisements in preparing advertisements and press releases Job Descriptions How job evaluations systems effect the writing of job descriptions Use extant theory to create advertisements, job descriptions and press releases. Audio Visual Communications Evaluate the theories behind the different types of audio-visual aids that can be used in business communication. Study representational theory concerning and the use of realia, visual and symbolic presentations in business communication. Considering psychological theories on the use of eye units, colour and lettering styles in visual presentations. Report Writing: Purposes and necessity for reports Develop policies for formatting for reports Editing documents in terms of clear and concise language Informative Reports Purpose Situational analysis Options for action Recommendations 3

4 Analytical reports Purpose Issues Option for action Recommendations Special Types of Report Annual Reports SWOT Analysis Organizational Landscape Evaluations Performance Appraisals Standards-based assessment reports Correspondence Developing company policy for Correspondence management with regard to Letters Memos Faxes BAN Business Studies I NQF Level 7 Credits 14 Distinguish between different types of business in the public and private sectors. Compare the processes and strategies used by businesses. Analyze business financials. Business Types Investigate the purpose and nature of business, looking at the different types of organisations within the public and private sector. Analyse business structures in terms of structure and function Analyse businesses in terms of activity (production/service), size, benefits and problems of a business. Hierarchy within a business (Function Structure Model) Identify external influences on both private and public sector companies Factors Affecting Businesses Political, economic, social, and technological components of the macroenvironment (PEST) analysis. Research the range of services available to organisations including access to financial services, consultancy services and local government funding. Production processes, quality, stock control and the factors internal and external that affect production within an organisation. Human resource management within a business, to include recruiting, payroll, training and development of employees and health and safety issues. 4

5 Business finance including an introduction to balance sheets and profit and loss accounts within a public and private sector organisation. Marketing a Business Demonstrate an understanding of how to market a business taking into account the location, product/service marketing mix, product/service lifecycle, customer needs and overall business objectives. BIS Computer Studies I NQF Level 7 Credits 14 Module Outcomes Appraise microcomputers. Apply software applications. Demonstrate computer literacy skills. Illustrate Information Technology appreciation in problem solving. Contrast and describe different processing methods and their relationship to the various categories of software, e.g. system and development software as well as applications software. Comprehend different ranges of typical business applications in accounting and finance, retailing, banking and tourism. Analyse a professional looking business document using different heading styles, type faces, fonts, columns, paragraph styles, tabulations and paper sizes. Microcomputers Overview of the development of computers Multi-user computers mainframes and minicomputers, personal computers and their configuration. Essential PC Hardware, peripherals and software. Introduction to the main types of Software. Binary codes and the microprocessor Types of PCs their uses and strengths Introduction to Operating Systems (Windows) Information processing online, offline processing, real-time, batch processing, single tasking and multitasking Current IT issues open & proprietary systems and compatibility, information systems security. Data communications - Introduction to Networks, central and distributed computing, wide area and global networks. Microsoft Windows Navigating the desktop, customising the desktop, file and folder management, installing and de-installing a program 5

6 Logging onto an internet service provider or online service provider, managing the mailbox, security, using a browser and search engine effectively and downloading pages, refining searches Microsoft Word Open a blank document and type text, recognise the toolbars, ruler bar, scroll bar, status bar Spell checking, search and replace, thesaurus Page set-up, styles and general formatting Creating a tab set, columns, tables and borders/shading/page Use word processor wizard to create a document such as a fax, an invitation or a CV Print preview and printing Microsoft Excel Start a blank spreadsheet and navigate between workbooks and sheets Enter data, change column widths and row heights, formatting values, calculating, creating and understanding formulae, using mathematical and statistical functions Creating and editing charts Auto form PowerPoint Create and present a simple slide show. Keyboarding Introduction to the keyboard and basic typing skills Introduction to touch typing to be able to acquire at least 35wpm MTH Mathematics I NQF Level 7 Credits 14 Apply arithmetic processes. Delineate and calculate different forms of graphical information. Calculate and interpret measures of central tendency, dispersion and probability. Basic Arithmetic Processes Applying the four rules of whole numbers, fractions and decimals Multiplying and dividing negative numbers Comparing numbers using ratios, proportions and percentages. Obtaining values for simple financial transactions involving purchases, wages, taxation, discounts. Converting foreign currencies Making calculations involving roots and powers 6

7 Evaluating terms involving a sequence of operations and the use of brackets. Approximating data using rounding and significant figures. Basic Mathematical Processes Solving linear and simple simultaneous equations Determine the equations of a straight line through two points. Determining the gradient and intercept of a straight line Identifying points of importance e.g. maximum, minimum and break-even. Basic Statistics Applying general rule and principles of graphical constructions including axes, choice of scale and zero. Drawing charts and diagrams from tabular data Calculating and interpreting measures of central tendency namely (mean, mode, median) and measures of dispersion (range, interquartile range and standard deviation) Applying the laws of probability to mutually exclusive, independent and dependent events. MTH Quantitative Methods I NQF Level 7 Credits 15 Calculate basic business processes. Apply basic calculations to business management. Appraise statistical procedures. Basic Numeracy Adding, subtracting, multiplying and dividing. Fractions, decimals and percentages. Ratios, proportions, roots and powers. Rounding and significant figures. Simple and compound interest. Business Calculations Wages, piece work, taxation, discounts and currency transactions Linear and cubic measurements applied in unit costs Financial proposals as part costing contracts Algebra Linear, simultaneous and quadratic equations Equations of straight line determining gradients, intercepts etc. Charts Overview of charting techniques using bar charts, line charts and pie charts. Applying charting techniques to survey information 7

8 Interpreting charts identifying the minimum, maximum, range and break-even points. Probability and Statistics Mutually exclusive, dependent and independent events. Sample spaces, contingency tables and tree diagrams. Categorical and continuous variables. Representing data using histograms, cumulative frequency curves and scattergrams Measures of distribution such as skew and kurtosis. The normal distribution and the use of probability tables. Basic time series and forecasting FIN Introduction to Regional Economics (SADC) NQF Level 7 Credits 14 Analyze the structural elements of regional economies and development plans. Compare Namibia s competitive advantage with SADC countries. Appraise Namibia s stake in regional and international organizations. Namibian Macro-Economic Analysis Analyse the Namibian economic structure namely, Mining, Agriculture, Fishing, Tourism Transport and Telecommunication), Banking and Insurance. Analyse the Namibian government structure namely Legislation, Judiciary and Executive. Understanding government development plans of government (NDP 1 & NDP 2) SADC Macro-Economic Comparative Analysis Compare and contrast economies of SADC countries (Angola, Botswana, South Africa, Zambia, Zimbabwe, Swaziland, Lesotho, Mozambique, Malawi, Tanzania and Democratic Republic of Congo) using the same sort of analysis as was used for Namibia. Tabulate a comparative analysis of Southern African Countries. Determine Competitive Advantage Identify the factors determining Namibia s competitiveness in the region Understand Namibia s stake in regional bodies including SACU, SADC, COMESA, WTO, and AGOA. Review a case study of Namibia s industrial policy and the export processing zone initiative in particular. 8

9 B FM Year II FIN Accounting II NQF Level 7 Credits 14 Appraise accounting principles and compare accounting applications. Appraise financials. Evaluate methods of financing businesses. The Principles of Accounting Identifying accounting objectives. Understanding accounting conventions. Demonstrating capital and revenue expenditure Understanding the role of NAMFISA Accounting Applications Review of business management packages Understand methods of recording manual accounting data and its users Understand electronic accounting systems e.g. PASTEL and ACCPAC Financial Statements Review generally accepted accounting financials and practice. Interpret financial and investor ratios. Limitations ratio analysis. Effects of inflation and its impact on ratios in historic cost accounts. Sources of Finance Understanding case studies of short term sources Understanding case studies of medium term sources Understanding case studies of long term sources Capital Structure and Gearing Understanding the issue and redemption of different types of share and debentures. Identifying the application of debt-gearing and equity practices. Consolidated Accounts Identifying consolidation principles Understanding acquisitions and mergers 9

10 BAN 2116 Business Communication II NQF Level 7 Credits 13 Analyze all aspects of communication theory and practice. Appraise electronic forms of business communication. The Business Communication Process Demonstrate knowledge of internal business communication processes Identify and understand how to overcome bottlenecks and barriers to internal communication (oral, written, intranet, meetings) Demonstrate knowledge of external business communication processes (Road Shows, internet, literature, seminars) The concept of business audiences Business Communication Skills Improving policies written communications Ways of improving policies of implementing oral communications Ways of improving policies for implementing effective meetings Ways of improving policies for visual communications Electronic Business Communication Develop policies for information technology Desktop publishing The application of advanced word processing skills. BAN Business Studies II NQF Level 7 Credits 14 Test the viability of an organisation both internally and externally. Debate on issues related to business operations. To investigate the purpose and nature of business, looking at the different types of organisations within the Public and Private Sector. Including the activity, size, advantages and disadvantages of a business. The hierarchy and the external influences of both Private and Public Sector companies including conducting a PEST analysis. Researching the services available to organisations including financial services, consultancy services and local government funding. 10

11 Demonstrate an understanding of how to market a business taking into account the location, marketing mix, product lifecycle, customer needs and relating this to the overall business objective. Production processes, quality, stock control and the factors internal and external that affect production within an organisation. Human resource management within a business, to include recruiting, payroll, training and development of employees and health and safety issues. Business finance; being able to demonstrate an understanding of balance sheets and profit and loss accounts within a Public and Private sector organisation. FIN Economics I NQF Level 7 Credits 13 Appraise economic concepts and theories. Economic Concepts Nature and scope of economics Free market, command and mixed economies. Macroeconomic and microeconomic aspects in Namibia. Economic Theories Consumer behaviour and demand theory Supply and cost theory. Provide examples of supply and demand theory. Identify market structures such as perfect competition, monopoly, monopolistic competition and oligopoly. Discuss theoretical advantages and disadvantages of different exchange rate mechanisms. Use the Keynesian macroeconomic model of national income as a measure of societal well-being and equilibrium levels. Explain the role of money in society. Discuss government macroeconomic policy. Explain the fundamental principles of international trade. HRM Human Recourse Management I 13 NQF Level 7 Credits Distinguish the various HR Practices used in businesses. HR Fundamentals Purposes of human resource management. Fundamental characteristics of people in organizations 11

12 Identify the mechanisms for individuals learning in organizations Identify the mechanisms for organisational learning HR and the Organization Interpreting psychological assessments for the selection process Employment contracts in terms in new employer expectations. Ethical management of managers and employees Developing flexible working conditions to accommodate business and staff needs. HR Performance Develop policies to encourage employee commitment Theories concerning the differences between management and leadership. Performance management, motivation and job design. Theories of people management skills. MKM Marketing I NQF Level 7 Credits 13 Appraise the philosophy, concepts and policies of micro and macro marketing. The history, philosophy and concepts of marketing in a domestic, international and global context. Micro and macro marketing. Measuring, analysing and modelling the marketing process. Managing the marketing mix. Concepts and models related to product and service policy. Channel and physical distribution policy business logistics. Marketing communications policy. Pricing policy. Marketing, planning, analysis control and implementation. Future development and the social, environmental and ethical dimensions of marketing. BAN Organisational Behaviour I NQF Level 7 Credits 13 Appraise management approaches to businesses. Analyze the nature of people and groups in organizations. Differentiate leadership roles in organizations. Developments in early a management thoughts using the scientific and classical management approaches. 12

13 Organisational behaviour in our dynamic and changing world. Organisational process, communication and people management. People, groups and group processes in organisations. Leadership and the management of performance, the management of conflict, motivational and interpersonal skills. Job satisfaction and its relationship to performance. MTH Quantitative Methods II NQF Level 7 Credits 13 Differentiate and appraise different forms of data collection, distribution and statistical analysis. Survey Research Methods Explain data collection and presentation Identify data sources Sampling methodologies Questionnaire design Perform questionnaire design Data types and their particular forms of tabular and graphical presentation. Applying descriptive statistics including measures of central tendency, measures of dispersion and measures of skew to data collections. Probability and Probability Distributions Rules of probability theory. Develop decision trees. Normal, binomial and Poisson distributions. Central Limit Theorem Hypothesis testing using parametric and non-parametric methods t-tests, chisquare Statistics Correlation analysis using Pearson s and Spearman s Rank coefficients. Regression analysis using least squares estimation. Time series analysis using additive and multiplicative models as decomposition methodologies. Analysis of trend, cycle and seasonality. Economic and Business Applications Demand and supply functions. Cost, revenue and profit functions using break-even analysis BAN Business Law I NQF Level 7 Credits 14 13

14 Appraise the administration of Namibian law. Compare the different kinds business entities available under Namibian law. The Nature and Administration of Namibian Law Namibian common law system, the sources of the law and the differences between contract and tort, civil and criminal law. Administration of the law in Namibia referring the court system, alternative dispute resolution systems and law personnel. Application of Namibian law Law of Business Associations Sole traders detailing the definition, creation, trading position and legal liability. Partnerships detailing the definition, formation, trading position and legal liability. Companies classifications - registered companies Formation, memorandum of association, articles of association and the powers and duties of directors and shareholders. Close corporations Areas of Business Law Contract Law including offer, acceptance, intention to create relations, and consideration, terms and conditions, warranties, exclusion clauses, misrepresentation, and undue influence, discharge of the contract, breach of contract. Consumer Protection including supply and sale of goods, hire purchase, loans, other consumer credit agreements, conditions and warranties, transfer and title of goods and remedies. Agency Law including the authority of the agent, types of agency and termination of the agency contract. Consumer Law including common law, statutory legal principles and case law. Employment Law including the contract of employment, employment tribunals and appeals. Bills of exchange including the concept of negotiability, cheques and the relationship of bankers and customers. BIS Systems Analysis I NQF Level 7 Credits 14 Appraise systems and their development. Evaluate systems in action. Analyse and design of development of software applications. Plan in structured fashion to develop the system analyses design for the given problems. 14

15 Calculate the need analysis for development of software tools and the hardware platforms. Theory of Systems Background and theory of systems analysis including the development of systems analysis and definition of attributes for systems analysis. Systems Development Systems analysis and design framework using the Systems Development Life Cycle (SDLC). Systems in Action Structured systems analysis and design (SSA). Process model using Data Flow Diagrams (DFDs). Entity model using Entity Relationship Diagrams (ERDs) and Entity Life Histories (ELHs). Computer Aided Systems Engineering (CASE) and the use of prototyping. Cross life-cycle tasks. 15

16 B FM Year III BAN Business Studies III: International Business NQF Level 8 Credits 20 Appraise international business and the globalization phenomenon. Evaluate factors affecting international business. Differentiate between and appraise the different business operations that are parts of international business. Global Concepts The key questions posed by international business and global operations, and be aware of the main reasons why businesses develop internationally. Define globalisation and, in understanding what it means, appreciate how it impacts on all functions of the business. The changing nature of the international business environment with specific regard to: the macro factors that underpin world trade. These are the powerhouses that drive changes in patterns of behaviour; the major international bodies, MF, WTO, World Bank etc, and their influences on shaping the liberalisation of world trade. Factors Affecting International Business Factors that give rise to different behaviour patterns (both buying behaviour and other organisational behaviour) in different countries including culture, stages of economic growth and local environmental conditions. Appreciate a range of cultural and communication factors that impinge on firms doing business in overseas settings. Recognise the strategic role of information gathering in directing international business decisions and be aware of the issues surrounding information gathering in an international environment. Recognise the changing planning frameworks as companies deepen their international and global commitments, and their impact on production, finance, operations, and marketing Operational Concern Implications of international operations for distribution and logistics within the firm. Human resource management implications of operating on an international scale.. Appreciate the range of alternative means by which international market entry may be achieved and the organisational and financial implications of each. Have a clear grasp of the range of tools of the marketing mix in differing economic, political and cultural situations. 16

17 Define implementation strategies including their integration, timing and funding; the roles of internal communication, leadership, teamwork and motivation in strategy execution. Define strategy evaluation and control; contingency planning and strategic adjustment; the management of change; measures of performance. Define social responsibility and business strategy. HRM Management Organisation I: Structures and Function NQF Level 8 Credits 20 Measure factors impeding employee performance and propose methods of overcoming such impediments. Value individual contribution to the overall mission of the organization. Organisation principles and design, influences and differences in style and structure, comparative analysis, and the wider aspects of the organisation environment. Organisation theories and relevance, and their interpretation within the operational context of organisations. Nature and purpose of organisation goals and how they are integrated into organisational activity, organisation processes and controls. The cultural context of organisations. Impetus for organisation change, change as an integral part of the organisation system, the process of planned change. Organisation development and processes, the nature of organizational effectiveness and the criteria for evaluating success. Examine the broad concepts of marketing strategy and planning. HRM Business Studies III: Entrepreneurial Studies and Leadership NQF Level 8 Credits 20 Appraise the nature and person-related factors in entrepreneurship. Analyze the factors affecting small business management. Distinguish between different forms of leadership and their relationships to entrepreneurial enterprises. o o The nature of entrepreneurship Defining entrepreneurship Promoting Innovation: Assessing Entrepreneurial Opportunities 17

18 o Economic and Social Contributions of Entrepreneurial Factors influencing entrepreneurship o Person Characteristics o Life Path Circumstances o Favourable Environmental Conditions o Perceptions of Desirability and Feasibility Deciding on a development approach o Starting a new firm o Buying an existing business o Purchasing a franchise Preparing to operate a small business o Developing a Business Plan o Obtaining resources o Selecting an appropriate site Managing a small business o Stages of small business growth o Entrepreneurship versus intrapreneurship o Major issues and problems How leaders influence others o Sources of leader power o Effective use of leader power Identifying leadership behaviours o Leadership traits o Managing diversity: Female vs. male leader behaviours Promoting innovation o Transformational leadership o Leadership and the organisational life cycle. SBM Strategic Planning I NQF Level 8 Credits 20 Evaluate key concepts in different forms of corporate strategic planning. Appraise corporate strategies in practice. Key Concepts in Corporate Strategic Planning: Nature and importance of corporate strategic planning in today s organisation. Explain various definitions and models of corporate strategy and planning and the characteristics of corporate strategic decisions compared to other levels of strategic planning and decision making in the organisation. Elements involved in the development of corporate strategy and some of the key concepts and vocabulary used by today s corporate strategists. Corporate Strategy in Practice: Application of corporate strategy in various types of organisational settings 18

19 Explain how corporate strategies develop in different organisations. Strategic development characteristics for small businesses, manufacturing and service organisations, public sector organisations, voluntary and not-for-profit organisations, professional service organisations, innovatory organizations and multinational corporations. Identify different patterns of strategy development, including intended versus realised strategies, pre-planned versus emergent strategies and imposed strategy development. Factors affecting strategy development in the organisation and the challenges for strategic development including uncertainty and the notion of strategic drift. Analysis for corporate planning: Types of analyses required for corporate planning decisions. Environmental analysis including, for example, PEST and the identification of key environmental drivers. Explain the steps and stages in environmental analysis, together with techniques for auditing and forecasting the environment. In addition, the competitor environmental analysis is included, encompassing strategic group analysis, the analysis of competitive market structure, and competitor based strategies including strategies for market leaders, market followers and market challengers. Evaluate the assessment of strengths and weaknesses, value chain analysis, comparative analysis and benchmarking, financial analyses and identifying core competences and critical success factors. Identify strategic options: The range of strategic options and decisions which the corporate planner must assess include: o Mission statements o Key objectives for the organisation. o Stakeholders and shareholders. o Exit strategies, including Ansoff s Product Market Matrix. o Methods of strategic development including internal development, mergers and acquisitions, and joint developments and strategic alliances are introduced. o Competitive advantage Strategy evaluation and Strategy Selection: The range of concepts and techniques in evaluating and selecting between strategic options include: The criteria of suitability, acceptability and feasibility in strategy evaluation and selection. Included in the techniques of strategy evaluation and selection are: decision tree analysis, strategy screening, risk analysis and techniques of financial analysis. Key concepts of strategy evaluation and selection include the concepts of strategic fit and synergy. Different processes for selecting strategies are considered 19

20 Implement and control strategies: Factors affecting the implementation and control of corporate strategies. Assess the determination of policies, procedures and budgets, together with the design of different organizational structures which may be used to implement strategies. Resource configuration and resource allocation and control Tools and techniques for the corporate strategist: Range of contemporary techniques and tools available to the corporate strategist together with their limitations. The following are considered to be examples of important tools and techniques for today s corporate strategist: BCG s Growth Share matrix, Directional Policy Matrices including the General Electric (GE) and Shell Matrices, Porter s Industry/Market Evolution Matrix, A D Little s Competitive Position/lndustry Maturity Matrix, the Parenting Matrix, PIMS Technique, the Experience Curve Concept, and GAP Analysis. Further and future issues in corporate strategy: Identify contemporary and possible future developments important to the corporate strategy In particular the importance of Information Technology and Information Systems for the Corporate Strategist, international and global aspects of corporate strategic planning are also introduced. Finally, issues in the management of strategic change are considered together with the increasing emphasis and importance given to the social/ethical, and environmental considerations for today s corporate planner. MKM Strategic Marketing NQF Level 8 Credits 20 Appraise strategy development and marketing planning incorporating marketing mix variables. Apply marketing concepts to marketing plans. Processes of strategy development and marketing planning. Examine and apply the core concepts and techniques for operationalising marketing. Marketing strategy, particularly the elements of the marketing mix. Integration and application of the marketing mix variables and their impact on other functions within an enterprise. Strategic marketing plans. 20

21 FIN 3127 Corporate Finance I NQF Level 8 Credits 20 Appraise financial decision making. Evaluate financing decisions and risk taking. The broad environment of financial decision making involving corporate objectives and functioning of the capital markets: Evolution of financial management in response to economic and other external factors e.g.technical developments and inflation resulting in the globalisation of financial decision making. The agency problem, finance theory in practice incorporating market and other imperfections. Financial markets, market efficiency and short-termism. The capital investment decision in practice, including unequal project lives, effects of inflation and risk: Identifying the relevant information in investment analysis. Evaluating replacement and other investment decisions. The problems of inflation and taxation. Replacement decisions. The control process as part of the investment decision. Post audit reviews. The impact of risk and uncertainty on the financial decision-making process and the contribution of modern portfolio theory: The need to understand how uncertainty affects investment decisions. Managers attitudes to risk. Mechanics of portfolio construction. Determination of appropriate risk premiums to incorporate into discount rates. The capital asset pricing model and its limitations. The financing decision of firms, including leverage, debt/equity ratios and Ieasing decisions: Treasury management and working capital policy. Short term asset management. Gearing and the advantages of debt capital. Factors to be taken into account when designing a capital structure policy. The Modigliani and Miller contribution. Buy or lease decisions, effects on overall financing strategy. The role of financial markets in the provision of finance and the efficiency of the markets in the pricing of securities: The key characteristics of the main sources of finance. The efficient market hypothesis and its practical implications the derivatives market including the role of options, futures and swaps. The dividend policy debate, including the implications of particular dividend distribution policies on the future of the firm: Competing views about the role of dividend policy. The implications of a change in dividend payouts. The information content of dividends. The theory of dividend policy. Market imperfections and the clientele effect 21

22 Evaluation of acquisitions and mergers and the problems associated with the valuation decision: The reasons behind the choice of merger or acquisition as a strategic option. Financing of acquisitions. The valuation problem particularly related to unquoted companies. Evaluation of the success of a merger or take-over. The impact of international trade on financial decisions, including the impact of exchange rates and the problems both financial and non-financial of international investment: Economic theory underlying the operation of international markets. Understand the three forms of risk involved in international trade: currency risk, translation risk and economic risk. Internal and external hedging of these risks. The role of financial markets in the provision of finance and the efficiency of the markets in the pricing of securities: The key characteristics of the main sources of finance. The efficient market hypothesis and its practical implications the derivatives market including the role of options, futures and swaps. The dividend policy debate, including the implications of particular dividend distribution policies on the future of the firm: Competing views about the role of dividend policy. The implications of a change in dividend payouts. The information content of dividends. The theory of dividend policy. Market imperfections and the clientele effect Evaluation of acquisitions and mergers and the problems associated with the valuation decision: The reasons behind the choice of merger or acquisition as a strategic option. Financing of acquisitions. The valuation problem particularly related to unquoted companies. Evaluation of the success of a merger or take-over. The impact of international trade on financial decisions, including the impact of exchange rates and the problems both financial and non-financial of international investment: Economic theory underlying the operation of international markets. Understand the three forms of risk involved in international trade: currency risk, translation risk and economic risk. Internal and external hedging of these risks. BIS Information Management Systems I 20 NQF Level 8 Credits Appraise the philosophy, concepts and policies of micro and macro marketing. Decision making: managerial problem solving and decision-making models, frameworks. Decision making and IS: role of information systems in managerial decision making. Introduction to MIS: definition, concepts components and sub-systems. Bases for structure of an MIS: decision making, management activity, organisational function and synthesis of MIS structure. Transaction processing systems: definition, architecture and components and MIS development. Decision support systems: concept, definition, architecture and components and MIS development. MIS acquisitions: proves and case 22

23 study. MIS implementation: critical success factors, strategies, impacts and case study. HRM Strategic Human Recourse Management I NQF Level 8 Credits 20 Appraise elements, tasks, processes, legislation and strategies involved in strategic HR management. Evaluate HRM in terms of organizational cultural change. Elements of human resource strategies and the necessity for integration between the HR strategy and the corporate strategies adopted by the organisation and by all other business functions. Tasks and processes involved in the creation of a human resource strategy, including capability evaluations, development of an HR vision, assessment of the strategic gap, and construction of plans designed to enable the gap to be reduced or eliminated. Relationships between human resource strategies and associated performance measures like profitability, competitive innovation, service quality, customer satisfaction, employee retention, and so forth. Construction of meaningful strategies and implementation programmes within each human resource management function, i.e. employee resourcing, employee reward, employee relations, and employee development. Legislation, regulations and policies applicable Relationship between HRM and organizational cultural change 23

24 B FM Year IV FIN Accounting III: Financial Strategies NQF Level 8 Credits 30 Appraise financial strategy formulation. Evaluate valuate bases. Analyze investment and risk. Financial strategy formulation Modeling annual cash flow forecasts and other financial statements based on expected changes in values over a number of years (e.g. inflation, volume, margins and probabilities, expected values and sensitivity analysis). No detailed testing of cash management models will be set since these covered in the Finance paper Constructing forecast financial statements based upon base year data (Note: these will not need to be presented in published accounts formats) Working capital management strategies i.e. aggressive, moderate and conservative strategies. No detailed testing of stock management models will be set since these were covered in the Financial paper Interpreting the segmental analysis section of published accounts Financial objectives of an organisation Financial obligations indicated in financial accounts e.g. redeemable debt, earn out arrangements, potential liabilities, long-term commitments (a UK example would be the Private Finance Initiative) Ratio analysis (liquidity, profitability, shareholder investment, gearing) Impact of regulation on developing strategy e.g. competition authorities, pricing and services regulation e.g. OFTEL, OFWAT Major economic forces affecting an organisation s financial plans (e.g. interest rates, inflation, exchange rates) Policies for distribution earnings e.g. dividends, share repurchase (Note: theory of dividend relevance will not be tested) Business valuation Asset valuation bases (e.g. historic, replacement, realisable) Earnings valuation bases (e.g. Price / Earnings (P/E) multiples, earnings yield) Cash flow valuation bases (e.g. DCF, dividend yield, dividend growth model using the formula Po = D1/r-g) Other valuation bases (e.g. earn out arrangements, super profits methods) The strengths and weaknesses of each valuation method and when each model is most suitable Application of the efficient market hypothesis (EMH) to business valuations Application of valuation bases to view issues Selection of an appropriate cost of capital if using discounted cash flow to value a business (see section (iv) of this syllabus) 24

25 The impact of changing capital structures on the market value of a company will be tested using the formula Vg = Vu + DTc. An understanding of the principles of Modigliani and Miller s theory of gearing with and without tax will be expected, but no proof of their theory will be examined (i.e. arbitrage) The different forms of intellectual capital The methods of valuing intellectual capital The reasons for acquisitions (e.g. synergistic benefits, removing competition) Different payment methods (e.g. synergistic, benefits, removing competition) Different payment methods (e.g. cash, shares, convertibles, earn out arrangements) The integration process following a take-over, e.g. transferring management, merging systems The implications of regulations in take-over situations (detailed knowledge of the City Code will not be tested) The priorities of different stakeholders in terms of business valuations The function / role of management buyouts, venture capitalists, including appropriate exit strategies. Risk management Management of risk: cultural, economic, political, technological and fraud Minimisation of political risk (e.g. gaining government funding, joint ventures, obtaining local finance) Minimising the risk of fraud (e.g. fraud policy statements, effective recruitment policies and good internal controls especially over procurement and cash) The principal of diversifying risk (no numerical calculations required) The risk of loss while goods are in transit and the risk of litigation in different countries 9no specific country will be tested) Management of interest rate risk including the use of interest rate swaps (simple calculations to illustrate an interest rate swap may be required) Forward rate agreements and interest rate guarantees (numerical questions will not be set on these topics) Illustration and interpretation of interest options using simple graphs to show caps, floors and collars 9numerical questions will not be set) Transaction, translation and economic risk Interest rate parity, purchasing power parity and the Fisher effect Forward contracts and money market hedges (numerical questions will be set including the need to be able to use cross rates) Currency futures an option including tick values 9numerical questions including tick values but ignoring basis risk will be set; the Black Scholes option pricing model will not be tested numerically, however an understanding of the variables which will influence the value of an option should be appreciated) Internal hedging techniques e.g. netting and matching Currency swaps (calculations to illustrate a currency swap may be set) Advanced investment appraisal Calculate the net present value and internal rate of return by either converting the foreign currency cash flows into sterling and discounting at a sterling discount 25

26 rate, or discounting the cash flows in the host country s currency using an adjusted discount rate. The effect of taxation, including differential tax rates and double tax relief The effect of restrictions on remittances Predict changing exchange rates using the purchasing power parity methods of interest rate parity The benefits if finance drawn from the foreign environment (i.e. matching the characteristics of the investment with that of the financing) The sources of long-term finance including Euro currency and Euro debt markets Capital investment real options (i.e. the option to make follow-on investment, the option to abandon and the option to wait) Weighted Average Cost of Capital (WACC) and when it is appropriate to use WACC Adjusting the WACC for changes in capital structure. Knowledge of the use of r* = r (1 T*L) will be expected Single period capital rationing for divisible and non-divisible projects (multiperiod capital rationing will not be tested) Adjusted Present Value (APV). The two steps method of APV will be tested for debt introduced permanently and debt in place for the duration of the project Capital Asset Pricing Model (CAPM). The ability to gear and ungear betas will be tested (candidates will not be asked to calculate a beta value from raw date using regression or other methods) Arbitrage pricing theory. The main principles of this theory will be tested and its advantages and disadvantages compared with the CAPM Risk adjustment using the certainty equivalent method when given a risk free rate and certainty equivalent values) Investment controls in practice (e.g. procedural controls, project management) FIN Business Studies IV: Business Ethics NQF Level 8 Credits 20 Appraise and evaluate the nature and scope of ethics in business. Scope and Nature of Business Ethics Narrow and Broad Ethics Justification of breadth Essentialist and generalist approaches to business ethics Is corporate social responsibility in the corporate interest? Self interest and morality: the need for moral theory Kant and Kantian theories Kantian morality and business ethics Moral theory and presumption against self interest Ethics and Organizations Ethics within organizations 26

27 Organizational Decision-making Morality and the Ideal of Rationality in Formed Organization Business and Social Responsibility Cost benefit analysis The Social Responsibility of Business: To Increase Profit? Morality in the Marketplace Morals Management and Codes Moral codes in business The Limitation of codes Beyond moral codes More applications of philosophy Weighting principles Morality and constraint Employee Obligations and Rights The employment contract Responsibilities within employment Fairness between employees Equal treatment Positive discrimination and reverse discrimination Good practice in employee consultation Agents duties Conflict of interest Gifts and entertainment Trade secrets and patents Honesty in communication Discharge Privacy Worker safety Whistle blowing Ethics and Finance Insider Trading Scenarios In defence of Insider Trading Insider Trading: Immoral Corporate Takeovers Leverage Buyouts Moral issues in Hostile Liquidating Turnovers Management buy-outs Ethical Investment Obligations of shareholders 27

28 Shareholders as a desirable form of ownership Ethics and Accounting Business and the Consumer Product Safety Balance to Product Liability Law Who should absorb the cost? The commercial expense of consumer protection Uncontroversial protections Advertising Ethics and advertising In Defence of advertising Selling A Moral Evaluation of Fare Practice Consumers as kings, consumers as victims Consumer demands with moral costs New or ethical consumers Business and the Environment Environmental Responsibility Business ethics and environmental ethics The care for Environmental Growth The moral value of green business Conventional green initiatives in business Ethics and Ecology Utilitarianism and the Environment Non Human Rights Towards Legal Rights for Natural Objectives Other Businesses, Development and the Ethics of Capitalism Suppliers as stakeholders Suppliers as creditors The principle of paying at the agreed time The able and willing creditor Phoenixing and the ethics of limited liability Relations with competitors Degrees of aggression in competition and need for restraint Altruism and good practice Competition and co-operation The argument from realism Capitalism, warts and all? Scepticism about realism Development ethics and businesses 28

29 International Business Ethics -Multinational Corps Multinational Decision-Making Ethical Complexities Involving Multinational Corps Multinational Decision-Making Reconciling International norms - Moral absolutes, ethnocentricity and cultural relativism - Characteristic types of ethical dilemma - Political considerations International Marketing Ethics and the Foreign Corrupt Practices Act HRM Human Resource Management II NQF Level 8 Credits 20 Appraise the origins, scope, purposes and role of the human resource management. and its function in today s organizations. Analyze the strategic importance of HRM activities performed in organizations and the interaction between the human resource function and its external context. Personnel administration or HRM a comparison Human resource management roles Human resource management policies, strategies and operating plans Specialist human resource management activities Business and human resource management climate International aspects of human resource management Japanese HR management case studies Organisations and HRM Organisations: basic components The meaning of organization Organisation theories Organisation culture Perspectives on organizations Organisation Structures The design of Organisation structures Centralisation and decentralization in organizations Jobs and work-roles Leadership in Organizations Definition of Leadership Leader attributes Style theories and leadership effectiveness Leadership and organization culture 29

30 Human Resource Planning The Human Resource Planning Process Development and implementation of a human resource plan Estimating personnel requirements Assessing the demand for and supply of labour Understanding Labour turnover Collection, maintenance and interpretation of (computerized or manually assembled) personnel information. Recruitment and Selection The recruitment process criteria for short-listing, support activities related to selection interviewing (e.g., the scheduling of interviews, logistical arrangements, welcoming candidates, etc) and the decision-making process. Personnel specifications Job analysis interviews Writing job descriptions Writing recruitment advertisements Evaluating alternative recruitment methods (Head Hunting) Staff selection Sorting applications Selection interview Selection tests Selection reports Performance Management Review of performance appraisal systems The implementation of and administrative procedures for appraisal and performance review processes The arrangements for grievance, disciplinary, exit and pre-retirement interviews The operation of pay and reward system. Employee Relations Perspectives on employee relations The procedures through which productive management/employee relations are conducted Mechanisms to facilitate both upward and downward communications within the organization. Human Resource Information Systems Maintenance of efficient data-recording processes within the personnel function 30

31 BIS 4315 Information Management Strategies II NQF Level 8 Credits 20 Evaluate role of information management systems in business decision making. Information Systems; Challenges and Opportunities Competitive and strategic uses of information systems. Information systems are more than computer systems. Understand how the Internet and Networking are transforming organisations. The Strategic Role of Information Systems. Identify the major types of organisational information systems and discuss how each supports the managers of the organisation. Demonstrate and show the major operations and management roles of information systems and the strategic role that they can play in gaining competitive advantage for the organisation. Information Systems, Organisations, and Management Decision Making. Explain the changing role of information systems in organisations. Discuss the impact of information systems on organisational structure, culture, political processes and management. Explain how information systems can assist managers and improve managerial decision making. Computers and Information Processing. Describe the major input and output devices and approaches to input and processing. Describe multimedia, network computers, and future information technology trends in outline. Identify major types of software and describe new approaches to software development. Managing Data Resources. Describe traditional file environments and contrast these with a database management environment. Explain the managerial and organisational requirements for creating a database environment. Telecommunications, the Internet, and Enterprise Networking. Describe in outline the basic components of a telecommunications system and identify telecommunications applications that can provide competitive advantage to organisations. Explain the criteria used in planning for telecommunications systems. Describe characteristics of, and problems posed by, enterprise networking and the Internet, and recommend solutions. Systems Development and Planned Organisational Change. Why building new systems are a process of planned organisational change. Identify and describe core activities in the systems development process and distinguish between various systems-building alternatives in terms of strengths and limitations of each approach. Describe traditional and new approaches for promoting information systems quality. 31

32 Implementation of Information Systems. Describe appropriate strategies to manage the implementation process. Identify and explain the indicators of successful system implementation. The enabling, role played by information systems and technology in Business Process Reengineering (BPR) Managing Knowledge. Describe and discuss specific types of information systems that help organisations create, capture, and distribute knowledge and information. Appreciate the role of the Internet, Document Management technologies, collaborative work, and art) ficial intelligence in capturing and distributing knowledge. Decision Support Systems. Explain in some detail the nature and role of decision support systems (DSS), group decision support systems (GDSS) and executive support systems (ESS). FIN NQF Level 8 Credits 70 Field Project: Financial Management Case Study, OR FIN NQF Level 8 Credits 70 Field Project: Governance and Management Case Study o Evaluate financial management processes. o Analyse governance and management with special emphasis on finances. 32