This course will focus on the advanced aspects of the investment decision (capital budgeting) and the way in which the organisations capital structure can be strategically adjusted to ensure the maximisation of shareholder wealth / added value. It will explore how the financing decision and the investment decision interrelate with each other and with the dividend or reallocation of funds decision. The course will explore the interrelationship between these three areas that help formulate the financial strategy of an organisation.
Although the emphasis will be on enabling you to be able to make decisions at a strategic level, the course also recognises the need for you to be able to analyse the implications of those decisions in light of the organisations objectives, it is further recognised that in arriving at such decisions you need to take account of broader strategic issues as well the financial analysis.
The course will introduce relevant theory and models, practical financial tools and techniques, with appropriate references to real life organisations. A strategic approach to critically analysing and evaluating financial information is encouraged, with a view to advancing your knowledge and understanding of capital budgeting, capital structure and dividend policy.
In addition it is vital you can confidently and effectively communicate the rationale behind your decisions. With this in mind the course will utilise every opportunity to expose you to situations where you will be required to lead a seminar, facilitate a workshop, chair a meeting and or present a report.
The course will also equip you with knowledge and competencies that will enable you to critically analyse, evaluate and communicate the financial decisions that will help transform the organisation to address its key priorities.
On successful completion of the course, you will be able to:
- Critically evaluate and analyse a business situation from a strategically financial perspective.
- Accurately apply relevant accounting tools and techniques to support strategic decisions
- Explore and critically assess the implications of pursuing various courses of actions available to a company
The advanced capital budgeting decision will build on the basic methods of appraising a project / investment by building in real life considerations such as tax, limited capital and inflation. Practical applications of advanced investment appraisal through mini case studies will be used in the course. Reference to real life scenarios will be informed by research in this area, relating to what real life companies actually do.
Capital structure will be explored by considering theoretical models and the empirical evidence that has been put forward in this area of finance. Key ratios will be referred to in order to analyse the impact of various sources of finance on the performance and position of the company. The relevance of accounting information available in the organisation and how it can help evaluate implications of a decision will begin to become apparent. The concept of the cost of capital will be explored and its relationship with the investment appraisal process will be discussed.
The dividend policy of the organisation will be explored by considering theoretical models and the empirical evidence that has been put forward in this area of finance The impact this has on shareholder wealth and the capital budgeting and capital structure decision is further explored.
You will begin to appreciate the need to be able to communicate the derivation and implications of strategic decisions. The analysis and evaluation is just one aspect of financial strategy, the delivery and communication of this strategy followed by the ability to reflect on the outcomes is what completes the strategy.
Offset course credits towards another qualification
Once you’ve completed this course you may be able to offset the 20 credits towards our online Accounting and Finance BA (Hons) Top-Up. This would reduce the number of modules you would need to study and the total cost of the course.
‡2021/22 Fees for new entrants
Starting between September 2021 and August 2022.
UK/EU fee: £840
International fee: £840
2022/23 Fees for new entrants
Starting between September 2022 and August 2023.
UK/EU fee: £840
International fee: £840
About your fees
Prices are correct for the year of entry shown. These are subject to annual increase in subsequent academic years.
You need to have one of the following qualifications:
- HND or Foundation Degree in Accounting or Finance or international equivalent
- ACCA (Association of Chartered Certified Accountants) F1-F6 or ACCA F1-F5 and F7
- CIMA (Chartered Institute of Management Accountants) Advanced Diploma
- ABE (Association of Business Executives) Advanced Diploma in Business Administration
- IBAM (Institute of Business Administration and Management) Advanced Diploma in Business Administration
English language qualifications
If English is not your first language you will need an English language qualification. For this course you will need at least one of the following:
- IELTS (International English Language Testing System) 6.0*
- TOEFL 550 (paper based) 213 (computer based) or 80 (internet based)
- Pearson Test of Academic English: 51
- Cambridge Advanced Certificate: Pass
- London Tests of English: we accept level 4 for undergraduate courses
- International GCE O-level English Language: Grade C
- International GCSE English/English as a Second Language: Grade C*
*If you have a minimum of IELTS level 4.5, you can study our Certificate of Credit in English for Academic Purposes, which we will accept as evidence that you are able to perform at a suitable level of IELTS 6.0. We will also accept the Certificate of Credit as evidence that you can perform at GCSE level.
If you are unable to take an English Language Test locally, you may wish to consider our Derby English Language Test (DELT), which is an online test in two parts: reading and writing, and listening and speaking. Take a look at our Derby English Language test (DELT) page for full course details, online exam dates and how to book.
Documents to support your application
You'll need to provide:
- Photo ID – this could be your passport or driving licence
- Copies of certificates and transcripts or a letter of testimony for previous qualifications*
*Documents not in English or Welsh must be accompanied by a certified translation by a professional translator/translation company. Each translation must contain:
- Confirmation from the translator that it is an accurate translation of the original document
- The date of the translation
- The full name and signature of the translator, or an authorised official of the company
- The translator’s contact details
A list of approved translators can be found on the UK Government website.
Students should apply directly to the University.
For support with completing your application, view our guide to the application process.
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