BACKGROUND AND RATIONALE
This module introduces learners to Macro-Economics. The module begins with explaining the process of acquiring knowledge of Money and Banking concepts. The module analyses inflation measurement and adjustment, explains the different types of unemployment and examines the macroeconomic equilibrium. The module further Analyses the fiscal and monetary policies, describes inflation and unemployment concept, explains the balance of payment accounts and ends with explaining the foreign exchange market.
OBJECTIVES
The objectives of this module are:
– To explain the process of acquiring knowledge of money and banking
concepts.
– To analyse the process of inflation measurement and adjustment.
– To explain the different types of unemployment.
– To examine the macroeconomic equilibrium.
– To analyse fiscal and monetary policies.
– To explain inflation and the unemployment concept.
– To explain what the balance of payment accounts is.
– To explain the foreign exchange market principles.
LEARNING OUTCOMES
At the end of this module you should be able to:
– Know and explain the process of acquiring knowledge of money and
banking concepts.
– Know and explain the process of inflation measurement and adjustment.
– Know and explain the different types of unemployment.
– Know and explain the macroeconomic equilibrium.
– Know and explain the fiscal and monetary policies.
– Know and explain concept of inflation and unemployment.
– Know and explain what the balance of payment accounts is.
– Know and explain the foreign exchange market principles.
COURSE CONTENT
UNIT 1: Acquiring knowledge of Money and Banking concepts.
UNIT 3: Determining types of unemployment.
UNIT 4: Examining macroeconomic equilibrium.
UNIT 5: Analysing fiscal and monetary policies.
UNIT 6: Describing inflation and unemployment concept.
UNIT 7: Explaining Balance of Payment Accounts.
UNIT 8: Describing Foreign Exchange Market.
PRESCRIBED READINGS:
Begg D., S. Fischer and R. Dornbusch. (2003) (7th Edition). Economics. London:
McGraw- Hill.
Frank R.H (2003) (5th Edition). Microeconomics and Behaviour. London:
McGraw- Hill.
Paul G. Kent, (2003) (4th Edition). Managerial Economics: Economic Tools for
Today’s Decision Makers. London: Pearson Publishers
RECOMMENDED READINGS
Hardwick, P.B Khan and J Langmead (2006). Introduction to Modern
Economics: London: Longman.
Seppe vanden Broucke and Bart Baesens (2018). Practical Web Scraping for Data Science: Best Practices and Examples with Python. Leuven: Seppe vanden Broucke and Bart Baesens
BACKGROUND AND RATIONALE
This module introduces learners to cost and management accounting. The module begins by explaining the nature and purpose of accounting system. It then describes the cost classification and behaviour and explains the purchasing, stores and inventory management. It further explains cost accounting for labour and overheads, it explains the principles of absorption
costing, marginal costing and activity based costing. The module further explains the different range of costing systems, it explains the process of recording cost and revenue data in the accounting system, it explains the application of decision making techniques, preparation of budgets and applying budgetary planning and control techniques. The module ends with explanation on application of the standard costing and variance analysis techniques.
OBJECTIVES
The objectives of this module are:
– To explain the nature and purpose of accounting system.
– To explain the cost classification and behaviour
– To explains the purchasing, stores and inventory management.
– To explain cost accounting for labour and overheads,
– To explain the principles of absorption costing, marginal costing and
activity based costing.
– To explain the different range of costing systems,
– To explain the process of recording cost and revenue data in the
accounting system,
– To explain the application of decision making techniques,
– To explain the process of preparing budgets and applying budgetary
planning and control techniques.
– To explain the application of the standard costing and variance analysis
techniques.
LEARNING OUTCOMES
At the end of this module you should be able to:
– Know and explain the nature and purpose of accounting system.
– Know and explain the cost classification and behaviour
– Know and explain the purchasing, stores and inventory management system.
– Know and apply the principles of cost accounting for labour and overheads,
– Know and apply the principles of absorption costing, marginal costing and activity based costing.
– Know and apply the different range of costing systems,
– Know and apply the process of recording cost and revenue data in the accounting system,
– Know and apply the different decision making techniques in accounting
– Know and apply the process of preparing budgets and applying
budgetary planning and control techniques.
– Know and apply the standard costing and variance analysis techniques.
COURSE CONTENTS
UNIT I: Explaining the nature and purpose of accounting system.
1.1 Meaning and scope of cost accounting
1.2 Role and function of cost accounting within the organization framework
1.3 Relationship between cost accounting, management accounting and financial accounting.
1.4 Factors to consider in the development of cost accounting system
UNIT 2: Describing the cost classification and behaviour.
2.1 The concept of cost
2.2 importance of cost recording
2.3 cost objects and cost accumulation
2.4 Manufacturing cost elements: direct, indirect, prime, product, service,
period, and production non-production cost.
2.5 Cost classification for decision making
2.6 Cost behaviour:
2.6.1 variable
2.6.2 fixed
2.6.3 semi-variable
2.6.4 step costs
2.7 High-low method
UNIT 3: Explaining the purchasing, stores and inventory management.
3.1 Stock recording
3.2 Inventory control.
3.3 Pricing of materials and valuations
UNIT 4: Explaining the cost accounting for labour and overheads.
4.1 Modes of remuneration.
4.2 Incentive schemes
4.3 Procedures and documentation for effective recording and analysis
4.4 Labour turnover
4.5 characteristics of overheads
4.6 Cost units, Cost Centre, Revenue Centre, Profit Centre, and Responsibility
Centre
UNIT 5: Applying Absorption Costing, Marginal Costing and Activity Based Costing principles.
5.1 Apportionment and absorption.
5.2 Over and under absorption
5.3 Marginal costing
5.4 Absorption Costing versus Marginal costing
5.5 Reconciliation of absorption costing to marginal costing
5.6 basic knowledge and application of activity-based costing
UNIT 6: Using a range of costing systems.
6.1 Job and batch costing
6.2 Contract costing.
6.3 Service costing
6.4 Process costing
UNIT 7: Recording cost and revenue data in the accounting system.
7.1 Recording of transactions under cost accounting
7.2 Control accounts
7.3 Integrated bookkeeping systems
UNIT 8: Applying decision making techniques.
8.1 Nature of decision making
8.2 Types of decisions
8.3 relevant costs for decision making
8.4 Sunk costs
8.5 Opportunity costs
8.6 Cost volume profit analysis (CVP)
8.7 Accountants model versus economic model of CVP
8.8 make or buy, subcontracting, pricing decisions and limiting factors
UNIT 9: Preparing budgets and applying budgetary planning and control
techniques.
9.1 Nature and functions of budgets
9.2 Budgetary process
9.3 Responsibility Centre
9.4 Benefits and limitation of budgets
9.5 Types of Budgets
9.6 Preparation of master budget
9.7 Cash budget
9.8 Activity Based Budgeting (ABB)
9.9 Zero Based Budgeting (ZBB)
9.10 Flexible Budgeting
UNIT 10: Applying the standard costing and variance analysis techniques
10.1 Establishment of standards and types of standards
10.2 Variance analysis for costs
10.3 Explanation of variances
10.4 Operating statement using absorption and marginal costing
PRESCRIBED READINGS
Drury .c (2008) (7th edn). Management and Cost Accounting. Cengage
Learning EMEA,
Lucey, T (2008) (7th edn). Cengage Learning EMEA.
RECOMMENDED READINGS:
1. ZICA T2 study manual
BACKGROUND AND RATIONALE
Corporate Finance and Financial Modelling module introduces learners to
corporate finance and financial modelling. The module starts by explaining
the role and purpose of financial management. It then describes the role of
financial institutions and markets within an economy. It explains the relevance
of key ratios to analysing the performance of a company for planning and
control purposes. It explains the process of identifying appropriate working
capital Strategy Company, it explains the process of evaluating capital
investment projects using appropriate techniques. Explains the process of
evaluating appropriate sources of finance for a given situation, it explains the
methods of calculating a weighted average cost of capital for an
organization, it compares and contrast different business valuation methods
and ends with the Identification of suitable methods for managing foreign
exchange risk.
OBJECTIVES
The objectives of this module are:
– To explain the role and purpose of financial management.
– To explain the role of financial institutions and markets within an economy.
– To explain the relevance of key ratios to analysing the performance of a
company for planning and control purposes.
– To explain the process of identifying appropriate working capital strategy.
– To explain the process of evaluating capital investment projects using
appropriate techniques.
– To explain the process of evaluating appropriate sources of finance for a
given situation.
– To explain the methods of calculating a weighted average cost of capital
for an organization.
– To compares and contrast different business valuation methods.
– To identify suitable methods for managing foreign exchange risk.
LEARNING OUTCOMES
At the end of this module you should be able to:
– Know and explain the role and purpose of financial management.
– Know and explain the role of financial institutions and markets within an economy.
– Know and explain the relevance of key ratios to analysing the performance of a company for planning and control purposes.
– Know and apply the process of identifying appropriate working capital strategy.
– Know and apply the process of evaluating capital investment projects using appropriate techniques.
– Know and apply the process of evaluating appropriate sources of finance for a given situation.
– Know and apply the methods of calculating a weighted average cost of capital for an organization.
– Know and explain the difference between different business valuation methods.
– Know and apply suitable methods for managing foreign exchange risk.
COURSE CONTENTS
UNIT 1: Explaining the role and purpose of financial management
1.1 Nature and purpose of financial management
1.2 Role and functions of the finance manager
1.3 Organizational and financial objectives
UNIT 2: Describing the role of financial institutions and markets within an Economy
2.1 Role of a financial system
2.2 Components of a financial system
2.3 Financial institutions
2.4 Financial markets
2.5 The Zambian financial system
UNIT 3: Explaining the relevance of key ratios to analyse the performance of a company for planning and control purposes
3.1 Financial analysis techniques and ratios
3.2 Benefits and limitations of techniques
3.3 Importance of financial planning and control
3.4 Forecasting and techniques of financial planning and control
UNIT 4: Identifying appropriate working capital strategy for a Company.
4.1 The elements of working capital and their role
4.2 Investment in current assets
4.3 Financing policies for current assets
4.4 Overtrading
4.5 Cash management
4.6 Receivables management
4.7 Payables management
4.8 Inventory management
UNIT 5: Evaluating capital investment project using appropriate techniques
5.1 Capital budgeting
5.2 Time value of money: Discounting, compounding, annuities, perpetuities
5.3 Investment appraisal methods: Net Present Value, Internal Rate of
Return, Accounting Rate of Return, payback and Profitability index.
5.4 Comparison and evaluation of investment appraisal methods
5.5 Inflation and tax in investment appraisal
5.6 Treatment of risk and uncertainty in investment appraisal
5.7 investment appraisal issues.
5.8 Monte Carlo simulation
UNIT 6: Evaluating appropriate sources of finance for a given situation
6.1 Short-term sources of finance
6.2 Impact of long-term finance on growth and development
6.3 Debt finance
6.4 Equity finance
6.5 Other sources of finance
6.6 Dividend policy
UNIT 7: Calculating a weighted average cost of capital for an organization
7.1 Risk, return and cost of capital
7.2 Cost of debt
7.3 Cost of equity
7.4 Capital Asset Pricing Model (CAPM)
7.5 Portfolio theory
7.6 Impact of capital structure
7.7 Modigliani-Miller theory
UNIT 8: Comparing and contrast different business valuation methods
8.1 Purpose of business valuations
8.2 Income based valuation methods
8.3 Cash flow-based valuation methods
8.4 Asset based valuation methods
UNIT 9: Identifying a suitable method for managing foreign exchange risk
9.1 Differences with international trade
9.2 Payment methods
9.3 Export and import finance
9.4 Foreign exchange risk
9.5 Cause of exchange rate fluctuations
9.6 Managing foreign exchange risk
PRESCRIBED READINGS:
Arnold, G, (2008) (4th edn) Corporate Financial Management. FT Prentice Hall
Atrill, P, (2008) (5th edn) Financial Management for Decision-makers. FT
Prentice Hall,
Brealey, R A, Myers, S C and Marcus, A J, (2008) (6th edn) Fundamentals of
Corporate Finance. McGraw-Hill
McLaney, E J, (2009) (8th edn). Business Finance Theory and Practice. FT
Prentice Hall,
RECOMMENDED READING:
Watson, D and Head, A, (2009) (5th edition). Corporate Finance: Principles and
Practice. FT Prentice Hall,
BACKGROUND AND RATIONALE
Management Information Systems module introduces learners to management information systems. The module starts by identifying business organization processes and supporting management information system. It then explains the process of identifying types of management information systems, explains the process of evaluating the impact of new technology on business processes and management information system. The module illustrates the decision-making process, demonstrates the relationship between decision making and management information at different levels of the organization. The module further explains the process of evaluating the importance of collaborative decision making environments and review group management information systems, it illustrates the concepts of knowledge and knowledge management in the management information systems context. It explains the process of employing the key requirement of competitive advantage. Explains the process of identifying the risk, security and control issues and ends with a review of the range of professional issues, which are associated with business activities in Management Information System.
OBJECTIVES
The objectives of this module are:
– To identify business organization processes and supporting management information system.
– To explain the process of identifying types of management information systems.
– To explain the process of evaluating the impact of new technology on business processes and management information system.
– To illustrates the decision-making process.
– To demonstrate the relationship between decision making and management information at different levels of the organization.
– To explain the process of evaluating the importance of collaborative decision making environments and review group management information systems,
– To illustrate the concepts of knowledge and knowledge management in the management information systems context.
– To explain the process of employing the key requirement of competitive advantage.
– To explain the process of identifying the risk, security and control issues
– To review the range of professional issues, which are associated with business activities in Management Information System.
LEARNING OUTCOMES
At the end of this module you should be able to:
– Know and identify business organization processes and supporting management information systems.
– Know and explain the process of identifying types of management information systems.
– Know and apply the process of evaluating the impact of new technology on business processes and management information system.
– Know and apply the decision-making process in organisations.
– Know and demonstrate knowledge of the relationship between decision making and management information at different levels of an organization.
– Know and apply the process of evaluating the importance of collaborative
decision making environments and review group management information systems.
– Know and illustrate knowledge of the concepts of knowledge and knowledge management in the management information systems context.
– Know and apply the process of employing the key requirement of competitive advantage.
– Know and apply the process of identifying the risk, security and control issues
– Know and apply knowledge on reviewing the range of professional issues, which are associated with business activities in Management Information System.
COURSE CONTENTS
UNIT 1: Identifying business organization processes and supporting management information system.
1.1 Systems concept
1.2 Types of systems
1.3 Business process and information systems.
UNIT 2: Identifying types of management information systems.
2.1 Various information systems.
2.2 information flow in organisations
2.3 types of decisions
UNIT 3: Evaluating the impact of new technology on business processes and management information system.
3.1 E-Commerce concepts
3.2 Types of E-Commerce
3.3 Challenges and opportunities of E- Commerce.
UNIT 4: Illustrating the decision-making process.
4.1 Model of Management
4.2 Roles of management
4.3 Management decision making.
4.4 information systems and Business strategies
4.5 value chain model.
UNIT 5: Demonstrating the relationship between decision making and management information at different levels of the organization.
5.1 Decision support System concept (DSS)
5.2 Executive Support System concept (ESS)
5.3 Expert System
UNIT 6: Evaluating the importance of collaborative decision making
environments and review group management information systems.
6.1 Collaborative concept
6.2 Group Decision Support Systems
UNIT 7: Illustrating the concepts of knowledge and knowledge management in the management information systems context.
7.1 Knowledge and knowledge management
7.2 Enterprise Knowledge management
7.3 knowledge Management Systems
UNIT 8: Employing the key requirement of competitive advantage.
8.1 information systems for competitive advantage.
8.2 Systems for competitive advantage
8.3 The Business value of information
UNIT 9: Identifying the risk, security and control issues.
9.1 Risk concepts
9.2 Systems vulnerability and abuse
9.3 Internet security challenges
9.4 disaster recovery and business continuity planning.
UNIT 10: Reviewing the range of professional issues, which are associated with business activities in Management Information System.
10.1 Code of conduct and work ethics
10.2 Intellectual property issues.
PRESCRIBED READINGS:
Laudon, K C & Laudon, J P (2004) (8th Ed). Management Information Systems,
Managing the Digital Firm. Pearson Education
Turban, E, McLean, E, & Wetherbe, J (2002) (3rd Edn.). Information Technology
for Management –Transforming the Business in the Digital Economy. John
Wiley & Sons.
RECOMMENDED READINGS:
Beynon-Davis, P (2002), Information Systems –An Introduction in Organisations.
Palgrave Macmillan