School of Management, Unit Catalogue 2007/08 |
MN20102 Financial management and reporting performance - European perspectives |
| Credits: 6 |
| Level: Intermediate |
| Semester: 2 |
| Assessment: CW 40%, EX 60% |
| Requisites: |
| Before taking this unit you must take MN10008 |
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Aims: The aim of this course is to provide students with an understanding of the differences in the financing of businesses in various European nations. The course covers the way European businesses raise finance and how accounting practice has developed in selected countries. It also considers the way companies are governed and how this affects business dealings and investment decisions across borders. Whilst concentrating on the major advanced economies in Europe the course also considers the changes taking place in Eastern Europe, which has a relevance as many multi-nationals have entered Eastern Europe hoping to benefit from the increased marketing possibilities and the access to cheaper labour and materials.
Learning Outcomes: Students will describe the extent of and main actors in harmonisation of * financial reporting * stock market regulation * corporate governance They will: * Describe the European business landscape and its effect on financial reporting * Identify, explain and evaluate key characteristics of financial reporting in major European countries and Scandinavia * Identify and appraise the challenges in development of coherent reporting structures in Eastern Europe * Describe various sources of finance and preferences in Europe * Identify and appraise developments in auditing and internal reporting practices in Europe Skills: Facilitation of: * Interpretation of financial data * Analytical and evaluative skills Content: Business organisations in Europe * Differences between company structures and funding of business enterprises * Effects on financial reporting. * Harmonisation of accounting practice; role of EU, IASB, corporations, etc Capital markets in Europe * Development of capital markets, their importance and the differences between national stock exchanges Development of business practice in emergent economies * The transition process and varying outcomes. * The role of Foreign Direct Investment in the transition process. * The development of accounting practice and the role of IAS's. Accounting and Audit practice in Europe * The contrasts in accounting practice and the development of International Accounting Standards. * The role of auditors and their status. Corporate Governance * The effect in European business organisations of shareholders and financial institutions. * Development of governance structures and codes. Corporate Finance and the role of the bank * An overview of the process of capital structure and financing decisions. * Banking institutions and their relationship with European corporations. Scandinavia * An analysis of the accounting and business practices of Scandinavian countries. Internal Reporting in European organisations * The role of internal reporting procedures and management accountants in Europe. |