IMIS Business Fundamentals

Course

In Leicester

Price on request

Description

  • Type

    Course

  • Location

    Leicester

  • Duration

    1 Year

An understanding of business organisations in terms of types and structures, and the information systems needed to enable those business organisations to operate successfully within their environment. Suitable for people who want to work with computers and need some entry level education.

Facilities

Location

Start date

Leicester (Leicestershire)
24 Millstone Lane, LE1 5JN

Start date

On request

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Course programme

Theme: Management of Information Systems
Course:
Diploma
Module Title: Business Fundamentals
Module Code: D22
Resources: Software: Accounting Package (SAGE, Pastel or equivalent), and Spreadsheet Package
Assessment: By a single 3-hour externally set examination paper
CATS Equivalent: 200 Notional Hours:
80 Hours Structured, 120 Hours Directed Self-Study

SPECIFIC COURSE AIMS AND LEARNING OUTCOMES:

  • D1.1 Compare different types of business organisations, their structures and how they operate within and interact with their environment.
  • D1.2 Identify the information needed to support decision making at all levels within business organisations.

MODULE AIMS:

To provide students with:

  • An understanding of business organisations in terms of types and structures, and the information systems needed to enable those business organisations to operate successfully within their environment. (A1)
  • An understanding of the ways in which businesses may be supported by the deployment of information systems. (A2)
  • An understanding of the basics of business finance. (A3)
  • An awareness of fundamental human resource issues arising in different businesses entities. (A4)

MODULE LEARNING OUTCOMES:

Students should be able to:

A1:

  • Identify and describe different types of business entities. (LO1)
  • Explain the significance of various types of environmental disturbance to particular businesses. (LO2)
  • Describe the accounting process in terms of, recording, analysing and interpreting financial data and statements. (LO3)
  • Describe a range of organisational structures and explain the implications for reporting systems. (LO4)

A2:

  • Describe the following key business sub-units (Purchases and stock control; Sales and marketing; Production and manufacturing systems; Distribution and Logistics). (LO5)
  • Demonstrate the application of computerised accounting systems for a range of business structures. (LO6)
  • Explain the importance of budgeting; describe the budgeting process and the way it is supported by information systems. (LO7)

A3:

  • Identify alternative sources of capital. (LO8)
  • Identify and discuss transfer pricing policies. (LO9)
  • Explain the time value of money and its implication for businesses. (LO10)

A4:

  • Identify fundamental human resource issues associated with managing various types of business entity. (LO11)

DETAILED MODULE CONTENT:

LO1: The Nature of Business Entities

  • Partnerships.
  • Sole traders.
  • Corporations:
  • private companies
  • public companies.
  • Obligations as regards record keeping, accounting and auditing.
  • Stakeholders for different entities.
  • Basic capital structures and reward systems for business owners.

LO2: Business and the Environment

  • Recognise the significance of environmental disturbance to particular businesses, noting:
  • behaviour of customers and competitors
  • the impact of interventions by government (for example, health and safety, control measures, or licensing)
  • fundamental micro-economic issues, supply and demand, elasticity of demand, as they might affect a particular entity.
  • Recognise the impact on business of technological advances that might have positive or adverse effects on the entity.

LO3: The Accounting Process and Interpretation of Financial Statements

  • Develop the accounting equation and recognise operating statements (Profit and Loss Accounts, Income and Expenditure Statements) and Balance Sheets.
  • The accounting process, recording, analysing and interpreting financial data:
  • recording – control systems for source data, data preparation, batch controls
  • analysing financial transactions - distinctions between capital and revenue, coding for creation of management reports, chart of accounts for computerised accounting systems, recording fixed assets and depreciation.
  • Interpretation of financial statements:
  • analysing profitability:
  • gross and net profit
  • Return on Capital Employed
  • Earnings Per Share (EPS) (for companies) and Price Earnings Ratio.
  • assessing efficiency:
  • Debtors and Creditors Ratios
  • Current Ratio and Acid Test
  • stock turn.
  • analysing risk:
  • Balance Sheet Gearing Ratio
  • Income Gearing Ratio.

LO4: Organisational Structures and Implications for Reporting Systems

  • Subsidiaries.
  • Divisions.

LO5: The Business Sub-Units

  • Purchases and stock control:
  • Inventory Management:
  • economic order quantities and re-order level
  • Just In Time (JIT).
  • Stock valuation and implications for assessing performance:
  • Last In First Out (LIFO)
  • First In First Out (FIFO).
  • Sales and marketing:
  • understanding discounts and promotional costs
  • break even calculations and understanding ‘contribution’
  • amortising marketing expenditure
  • treatment of research and product development expenditure.
  • Production and manufacturing systems (part one):
  • basics of resource planning and other integrated systems
  • accounting for manufacturing costs
  • allocation of overheads.
  • Production and manufacturing systems (part two):
  • systems design implications of cost recording requirements:
  • Cost Centres
  • Profit Centres
  • approaches to cost accounting:
  • Marginal costing
  • Absorption costing
  • Standard costing (principles only)
  • Activity Based costing (principles only).
  • Distribution and Logistics:
  • accounting for distribution costs
  • implications of Just in Time (JIT) for businesses and their customers
  • information requirements for fleet management
  • implications of outsourcing of transport management.

LO6: Computerised Accounting Systems

  • Chart of accounts.
  • Simple transaction processing systems.
  • Modular accounting packages.
  • Access, audit and security issues:
  • verification and validation procedures.

LO7: Introduction to Budgeting

  • The basic model.
  • Zero-based budgeting.
  • Incremental budgeting.

LO8: Capital Funding

  • Selecting sources of capital for specific projects.

LO9: Transfer Pricing

  • Introductory issues.

LO10: Broader Financial Issues

  • Time value of money.
  • Interest rates.
  • Cost of capital.

LO11: Human Resource Management Issues

  • Recruiting.
  • Training.
  • Reward schemes.
  • Motivation.
  • Managers and finance.
  • Consultation and the budget process.

IMIS Business Fundamentals

Price on request