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Finance and Accounting

LSC404

Course CodeLSC404
ECTS

Course Description

This unit introduces learners to the role of finance and accounting and how the financial information generated by business activities can be used to plan, monitor and improve the performance of businesses operating in the logistics and supply chain environment.

Course Objectives

This unit introduces learners to the role of finance and accounting and how the financial information generated by business activities can be used to plan, monitor and improve the performance of businesses operating in the logistics and supply chain environment.

Key Topics

  1. LO1: Understand the role of the finance and accounting function in a logistics business.
  2. LO2: Understand the sources of finance available to a logistics business.
  3. LO3: Be able to prepare and monitor a budget.
  4. LO4: Be able to analyse the performance of a logistics business.

Course Outline

WeekTopics
1Foundations of Financial Record-Keeping
2Core Financial Statements and Logistics Decision-Making
3Business Capital and Fixed Asset Depreciation
4Working Capital and Liquidity Management
5Sources of Finance for Logistics Operations
6Budgetary Frameworks and Approaches
7Budget Preparation in Logistics
MidtermMidterm evaluation
9Variance Analysis and Budgetary Control
10Financial Performance and Ratio Analysis
11Addressing Financial Under-Performance
12Applying Finance and Accounting in practice: case studies
13Assignment workshop: research, planning and referencing
14Assignment workshop: drafting, feedback and improvement
15Review and coursework completion
FinalFinal assessment and submission

Learning Outcomes

  1. LO1 Understand the role of the finance and accounting function in a logistics business.
  2. 1.1 Identify the reasons for maintaining accurate financial records in business.
  3. 1.2 Explain the specialist finance and accounting roles in a business.
  4. 1.3 Explain the purpose of the main financial statements.
  5. 1.4 Discuss the contribution of the finance and accounting function to business decision-making in a logistics business.
  6. LO2 Understand the sources of finance available to a logistics business.
  7. 2.1 Understand the importance of business finance for a logistics business.
  8. 2.2 Understand the concepts of working capital and liquidity.
  9. 2.3 Discuss the sources of finance for a logistics business in different scenarios.
  10. 2.4 Understand the impact of depreciation on business assets.
  11. LO3 Be able to prepare and monitor a budget.
  12. 3.1 Differentiate between different types of budgets.
  13. 3.2 Prepare different types of budgets.
  14. 3.3 Undertake a variance analysis on a budget.
  15. 3.4 Identify the reasons for adverse and favourable budget variances.
  16. 3.5 Identify actions to address budget variances.
  17. LO4 Be able to analyse the performance of a logistics business.
  18. 4.1 Analyse the financial performance of a business from information drawn from financial statements.
  19. 4.2 Identify actions to address the under-performance of a logistics business.
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