Introductory description

This module addresses the financial management of projects. It provides a basic understanding of main financial statements, so that participants can understand and analyse financial information of a business. It also gives an introduction to management accounting concepts and techniques as an aid to effective project financial planning and control. The module introduces the financing of projects, the evaluation of capital investment projects and project risk management.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Introduction to Project and Business Finance; Financial Statements; Profit vs Cash; Budgetary Control Systems; Costing Techniques to ascertain, recover and control costs; Marginal Costing and Break-even Analysis; Capital Expenditure Evaluation and Financial Evaluation of Projects; Financing and Business Structures for Large Projects.

Learning outcomes

By the end of the module, students should be able to:

• Critically assess the financial performance of a business by analysing and integrating its financial statements.
• Critically evaluate project investment decisions including risk assessment.
• Select and justify and apply appropriate management accounting techniques for project cost and budgetary control.
• Critically assess the financial source options for a project and recommend the most suitable financing method(s).

Indicative reading list

Bamber, M., Parry S (2018) Accounting and finance for managers: a decision-making approach 2nd edition, New York: Kogan Page (ISBN: 9780749481148)

Bhimani, A. (2019) Management and Cost Accounting 7th edition Harlow, England: Pearson (ISBN: 9781292232676)

Callahan, K.R., Stetz, G.S., Brooks, L.M. (2011) Project Management Accounting: Budgeting, Tracking, and Reporting Costs and Profitability Hoboken, New Jersey: John Wiley and Sons Inc (ISBN: 9786613176158)

Dyson, J. R., Franklin, E. (2020) Accounting for non-accounting students 10th edition Harlow, England: Pearson (ISBN: 9781292286969)

Gatti, S. (2018) Project finance in theory and practice: designing, structuring and financing private and public projects London: Academic Press (ISBN: 9780128114025)

Subject specific skills

Project Financing, Budgeting, Cost Control, Project Evaluation, Understanding of Financial Statements, Cash Management.

Transferable skills

Financial/Numerical, Analysis, Communication, Teamwork, Presentation, Organisational, Planning, Critical Thinking, Time Management, Technology (excel).