APC308 Financial Management
Individual assignment
Weighting – 100% of the marks for this module
This is an individual assignment of 3,000 words. (+ or – 10%)
The hand in date is: Friday 17th July 2015
Submission to be made electronically in PDF .doc or .dox format to Jira online
submission system
Requirements:
This assignment is in TWO parts, with each part carrying a maximum mark of 50%.
Part A
Critically evaluate and analyse the differing ways in which the shareholders of a
company can encourage its managers to act in a way that is consistent with the
objective of maximization of shareholder wealth.
In this section students should demonstrate knowledge, understanding, and an ability
to critically evaluate the importance of agency theory, and the role it plays within
financial management. The response should draw upon the differing techniques that
can be used by shareholders to reduce the agency problem that is faced within many
businesses. A critical evaluation of relevant academic literature should be
performed, providing clear evidence of wider reading within this topical area of
research, rather than simply describing the core concepts. Attempting to evaluate
within the context of real-life examples where shareholders have actively attempted
to address agency problems would assist in developing the depth of response offered.
(50%)
Part B
In practice financial managers use a variety of differing investment appraisal
techniques upon assessing the viability of potential capital investment projects.
Critically compare and contrast two investment appraisal techniques, one of which
must be a discounted cash flow technique that would assist within the financial
management decision-making process.
In this section students should demonstrate knowledge and understanding of two
investment appraisal techniques used by financial managers, how they can inform
future projects, what limits their ability to guide investment, and which technique you
would prefer (with reasons). The response should demonstrate evidence of wider
reading and application of the chosen techniques within a real-life business context,
supported through relevant empirical research. Real-life examples can be drawn
from differing countries, industries and individual businesses, clearly identifying
whether the investment appraisal techniques chosen are applied in practice. The
inclusion of relevant numerical examples to develop the response further would be
advantageous although should not form the main thrust of the work.
(50%)
The University policy on cheating collusion and plagiarism will be applied to
this piece of work.
Guidance:
Students should approach this assignment as an academic essay, weighing the
arguments for and against each issue, making comment on the literature and drawing
logical conclusions. Academic referencing using the Harvard referencing approach is
a key requirement of the assignment to demonstrate wider reading and to underpin
the discussions, ensuring they have relevant depth.
Marking Guide
The learning outcomes for this module assessed by this piece of work are
Knowledge
1. Examined and critically evaluated the key strategic decisions that a business may
have to make and appreciated how accounting and finance can assist in making and
evaluating those decisions.
2. A critical understanding of specific analytical skills in key decision areas within
strategy and finance at local and international level
3. A critical understanding of the limitations of the current state of financial theory in
making strategic business decisions
Skills
4. Applied the key valuation concepts and methodologies of financial decision making
in order to contribute to the wider decision making of the organisation
Generic Assessment Criteria – Undergraduate Bachelor’s degree
Categories
Grade Relevance Knowledge Analysis Argument and Structure Critical Evaluation Presentation Reference to Literature
86 –
The work examined is exemplary and provides clear evidence of a complete grasp of the knowledge, understanding and skills appropriate to the Level of the qualification. There is also unequivocal evidence
showing that all the learning outcomes and responsibilities appropriate to that Level are fully satisfied. At this level it is expected that the work will be exemplary in all the categories cited above. It will demonstrate
a particularly compelling evaluation, originality, and elegance of argument, interpretation or discourse.
100%
76-85%
The work examined is excellent and demonstrates comprehensive knowledge, understanding and skills appropriate to the Level of the qualification. There is also excellent evidence showing that all the learning
outcomes and responsibilities appropriate to that level are fully satisfied. At this level it is expected that the work will be excellent in the majority of the categories cited above or by demonstrating particularly
compelling evaluation and elegance of argument, interpretation or discourse and there may be some evidence of originality
The work examined is of a high standard and there is evidence of comprehensive knowledge, understanding and skills appropriate to the Level of the qualification. There is also clearly articulated t evidence
demonstrating that all the learning outcomes and responsibilities appropriate to that level are satisfied At this level it is expected that the standard of the work will be high in the majority of the categories cited
above or by demonstrating particularly compelling evaluation and elegance of argument, interpretation or discourse.
70 –
75%
60 –
69%
Directly relevant to the
requirements of the
assessment
A substantial knowledge
of relevant material,
showing a clear grasp of
themes, questions and
issues therein
Good analysis, clear
and orderly
Generally coherent and logically
structured, using an appropriate
mode of argument and/or
theoretical mode(s)
May contain some distinctive
or independent thinking; may
begin to formulate an
independent position in
relation to theory and/or
practice.
Well written, with standard
spelling and grammar, in
a readable style with
acceptable format
Critical appraisal of up-to-date
and/or appropriate literature.
Recognition of different
perspectives.Very good use of
source material. Uses a range of
sources
Pass
Some attempt to Adequate knowledge of a
fair range of relevant
material, with intermittent
evidence of an
appreciation of its
significance
Some analytical Some attempt to construct Sound work which Competently Uses a variety of literature which
includes some recent texts and/or
appropriate literature, though not
necessarily including a substantive
amount beyond library texts.
Competent use of source
material.
50 –
59%
address the treatment, but a coherent argument, but expresses a coherent written, with only
requirements of may be prone to may suffer loss of focus position only in broad minor lapses from
the assessment: may
drift away
description, or to
narrative, which
and consistency, with issues at
stake stated only
terms and in uncritical
conformity to one or
standard grammar, with
acceptable
from this in less lacks clear vaguely, or theoretical more standard views format
focused passages analytical
purpose
mode(s) couched in simplistic
terms
of the topic
40 –
49%
Some correlation with
the requirements of the
assessment but there
are instances of
irrelevance
Basic understanding of
the subject but
addressing a limited
range of material
Largely descriptive or
narrative, with little
evidence of analysis
A basic argument is evident, but
mainly supported by assertion and
there may be a lack of clarity and
coherence
Some evidence of a view
starting to be formed but
mainly derivative.
A simple basic style but
with significant
deficiencies in expression
or format that may pose
obstacles for the reader
Some up-to-date and/or
appropriate literature used. Goes
beyond the material tutor has
provided. Limited use of sources
to support a point.
Fail
35 –
39%
Relevance to the A limited Heavy Little evidence of coherent Almost wholly Numerous Barely adequate use of literature.
Over reliance on material provided
by the tutor.
requirements of understanding of a dependence on argument: lacks derivative: the writer’s deficiencies in
the assessment
may be very
narrow range of material description,
and/or on
development and may be
repetitive or thin
contribution rarely
goes beyond
expression and
presentation; the
intermittent, and may
be reduced to its
vaguest and least
challenging terms
paraphrase, is common simplifying
paraphrase
writer may achieve
clarity (if at all) only by
using a simplistic or
repetitious style
The evidence provided shows that the majority of the learning outcomes and responsibilities appropriate to that Level are satisfied – for compensation consideration.
30 –
34%
The work examined provides insufficient evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence provided shows that some of the learning outcomes and
responsibilities appropriate to that Level are satisfied. The work will be weak in some of the indicators.
15-29% The work examined is unacceptable and provides little evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence shows that few of the learning outcomes
and responsibilities appropriate to that Level are satisfied. The work will be weak in several of the indicators.
0-14% The work examined is unacceptable and provides almost no evidence of the knowledge, understanding and skills appropriate to the Level of the qualification. The evidence fails to show that any of the
learning outcomes and responsibilities appropriate to that Level are satisfied. The work will be weak in the majority or all of the indicators.