References in recommended texts


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References in recommended texts

  1. 1. Financial Environment ACC2008 Level 2 Module Guide 2005 / 2006 Shared/Cadmin/Aatjcr/Guides/2005-2006 ACC2008 1
  2. 2. Module Specification School: Accounting & Information Systems Field: Accounting & Finance Module Title: Financial Environment Code: ACC2008 Level: Two Credit Value: 20 Pre-requisites None Co-requisites: None Module Leader: Sylvia Rawlings, Cottesbrooke Room 226, Extension 2359 E-mail Field Chair: Christopher Cook, Cottesbrooke Room 220. Extension 2356. E-mail Shared/Cadmin/Aatjcr/Guides/2005-2006 ACC2008 2
  3. 3. Financial Environment Context/rationale: The module formally introduces students to financial institutions including banks and other financial service providers. The module investigates the nature and role of these financial institutions and analyses their products and operational strategies. The purpose is to develop a greater awareness of the financial environment and the regulatory restrictions imposed. In addition, this module seeks to raise the students’ awareness of the market for personal financial services and to develop an understanding of the competitive scope that the market faces. Consideration will also be given to the regulatory environment faced by competing institutions. Whatever the nature of the regulatory controls in the financial services industry which seek to protect consumers, students who are knowledgeable about saving and investing, borrowing, insuring against risk, retirement planning etc are better prepared to deal with personal financial matters, and so better protected from the many pitfalls that arise. The module also provides a good background for those students seeking employment in the financial services industry. Learning Outcomes: On successful completion of the module students will be able to: Knowledge and Understanding a) Acquire and apply specialised, up to date knowledge relating to the properties and pricing of financial assets b) Discuss the role and functions of major financial institutions and markets c) Examine the implications of the conduct of government policy on the financial services industry d) Understand the external environment in which financial services organisations operate Subject-specific skills e) Identify the current problems arising in each of the financial services areas covered by the syllabus f) Evaluate the effectiveness of the law and regulation in controlling the financial services industry g) Identify the key drivers in the development of the UK financial system h) Identify and evaluate the role of the financial services industry in meeting the needs of the personal financial services market Shared/Cadmin/Aatjcr/Guides/2005-2006 ACC2008 3
  4. 4. Key Skills i) Take responsibility for constant updating of the current financial services scene, by reading the quality press, relevant magazines etc j) Demonstrate an ability to argue in writing and orally a convincing case on a given issue to reach a sound judgement k) Identify problems and apply concepts, principles and judgements to provide solutions or to take action l) Use electronic information sources to develop a current awareness of developments in the financial services environment m) Identify and select appropriate information for written reports. Teaching and Learning Strategy The unit will be taught using lectures and seminars. Visits will be made to financial institutions and outside speakers will be invited to give their perspective of the financial environment. In addition to books and journals, students will be required to consult web- based data sources in order to: • Gain insights into current issues in the financial environment • Obtain up to date information on the economy Students will be required to apply knowledge to scenarios involving central government, business organisations and individuals. The decision making nature of the module means that the use of case study material is particularly appropriate. Assessment The module is assessed entirely by means of coursework. . The coursework will comprise: • an individual essay (approximately 2000 words) requiring students to research and explain share price movements using value based management theory and their own research findings. • A group presentation and transcript on a current issue in the financial environment . Shared/Cadmin/Aatjcr/Guides/2005-2006 ACC2008 4
  5. 5. Indicative Reading There is no single text that covers all aspects of the module. The following books, journals and websites will provide useful background material. Main Texts Brighouse, D & Hontoir J (2004) The Financial Environment Financial World Publishing (BH) Harrison, D (2005) Personal Financial Planning Theory and Practice FT Prentice Hall (HA) Other Texts Howells, P. & Bain, K. (2002) The Economics of Money, Banking and Finance Financial Times Prentice Hall (HB) Bank of England Quarterly Bulletin Corporate Finance Investors Chronicle HM Treasury Financial Services Authority Stock Exchange DTI Bank of England The following websites focus on personal finance: Shared/Cadmin/Aatjcr/Guides/2005-2006 ACC2008 5
  6. 6. FINANCIAL ENVIRONMENT SCHEME OF WORK TERM 1 Week Content References in Commenci recommended ng texts 1. 03 Oct Course introduction and overview 2. 10 Oct The financial system in outline BH Ch3, , HB Ch1 3. 17 Oct The role of money in the BH Ch3, economy; the need for finance and financial assets 4. 24 Oct The roles of banks and building BH Ch2, HB Ch3 societies; future trends 5. 31 Oct Other financial intermediaries – BH Ch2, HB Ch3 pension funds, insurance companies etc 6. 07 Nov The financial markets BH Ch2, , Go Ch3, HB Ch 15, 16, 17 7. 14 Nov Raising finance – shares and debt Fe Ch 4, 5, , HB Ch 16, 17 8. 21 Nov Raising finance – SME’s Various 9. 28 Nov Monetary policy and financial BH Ch 3, Go Ch7 regulation; the control of the banking system 10. 05 Dec The system of taxation in the UK Various 11. 12 Dec International aspects of the Various financial environment 1 CHRISTMAS BREAK Shared/Cadmin/Aatjcr/Guides/2005-2006 ACC2008 6
  7. 7. TERM 2 2004 Week Content Reference in Commenci recommended ng texts 12. 09 Jan International aspects of the Various financial environment 2 13. 16 Jan Financial services sector – an overview 14. 23 Jan Financial services products – BH Ch1, house purchase 15. 06 Feb Financial services products – BH Ch1, insurance 16. 13 Feb Financial services products – BH Ch1, savings and investment 17. 20 Feb Building an investment portfolio 18. 27 Feb Financial services products – BH Ch1, retirement 19. 06 Mar The regulation of the financial BH Ch4, services sector 20. 13 Mar Financial Crime BH Ch4 21. 20 Mar Consumer credit 1 EASTER BREAK Shared/Cadmin/Aatjcr/Guides/2005-2006 ACC2008 7
  8. 8. TERM 3 Week Content Reference in recommended texts 22. 24 Apr Consumer credit 2 23. 01 May Current issues in financial services 24. 08 May Current issues in financial services 25. 15 May Presentations of reports 26. 22 May Presentations of reports Shared/Cadmin/Aatjcr/Guides/2005-2006 ACC2008 8