Module Specification
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
1. Module Title BUSINESS FINANCE
2. Module Code ACFI304
3. Year Session 2023-24
4. Originating Department Management School
5. Faculty Fac of Humanities & Social Sci
6. Semester First Semester
7. CATS Level Level Three
8. CATS Value 15
9. Member of staff with responsibility for the module
Dr X Cai Finance and Accounting Xiangshang.Cai@liverpool.ac.uk
10. Module Moderator
11. Other Contributing Departments  
12. Other Staff Teaching on this Module
Ms L Brough Management School L.Brough@liverpool.ac.uk
Mr NA Owen Management School Neil.Owen@liverpool.ac.uk
Mr C McCall-Twentyman Management School C.Mccall-Twentyman@liverpool.ac.uk
Miss JV Jones Management School Jade.Jones@liverpool.ac.uk
Mr TE Lloyd Management School Thomasl@liverpool.ac.uk
Mr MR McDonough Management School Michael.Mcdonough@liverpool.ac.uk
Miss RD Hughes Management School Rebekah.Hughes@liverpool.ac.uk
Mr L Dowdall Management School Luke.Dowdall@liverpool.ac.uk
Mr LA Bedeau Management School Leon.Bedeau@liverpool.ac.uk
Miss NE Wood Management School N.E.Wood@liverpool.ac.uk
Mr DRA Horne Management School D.Horne@liverpool.ac.uk
Miss D Gildea IPH Professional Services Dionne.Gildea@liverpool.ac.uk
Mr JC Brown School of Physical Sciences J.Brown23@liverpool.ac.uk
13. Board of Studies
14. Mode of Delivery
15. Location Main Liverpool City Campus
    Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
16. Study Hours 24

 6

         30
17.

Private Study

 120
18.

TOTAL HOURS

 150
 
    Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other
19. Timetable (if known)            
 
20. Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

 
21. Modules for which this module is a pre-requisite:

 
22. Co-requisite modules:

 
23. Linked Modules:

 
24. Programme(s) (including Year of Study) to which this module is available on a mandatory basis:
25. Programme(s) (including Year of Study) to which this module is available on a required basis:
26. Programme(s) (including Year of Study) to which this module is available on an optional basis:
27. Aims
 

To provide students with a fundamental understanding of the core theoretical and empirical aspects involved in corporate finance. The course aims to build transferrable skills of students by concentrating on the fundamental theoretical and empirical principles.
 
28. Learning Outcomes
 

(LO1) Understand the principles of bonds and stocks valuation.
 

(LO2) Assessment of the term structure of interest rates
 

(LO3) Develop understanding of emperical and theoretical aspects of capital budgeting under uncertainty, market efficiency
 

(LO4) Understand portfolio theory, asset pricing models (CAPM,APT), and portfolio management.
 

(LO5) Develop understanding of issues involved in Capital Structure and Dividend policy .
 

(LO6) Understand the principles and practices involved in leasing, mergers and acquisitions
 

(LO7) Understand the functions and valuation principle of options, futures, warrants and convertibles.
 

(S1) Problem solving skills
 

(S2) Numeracy
 

(S3) Commercial Awareness
 

(S4) Communication skills
 
29. Teaching and Learning Strategies
 

Teaching Method: Lecture
Scheduled Directed Student Hours: 24
Attendance Recorded: No

Teaching Method: Seminar
Scheduled Directed Student Hours: 6
Attendance Recorded: Yes

Self-Directed Learning Hours: 120
Description: Self-Directed Learning will include research activity, developing academic writing skills, and wider reading to support the module

This module is a pre-requisite for the following module:
ACFI342

Skills/Other Attributes Mapping

Skills / attributes: Communication skills
How this is developed: Lectures
Mode of assessment (if applicable): Examination and Mid-term

Skills / attributes: Commercial Awareness
How this is developed: Lectures
Mode of assessment (if applicable): Examination and Mid-term

Skills / attributes: Numeracy
How this is developed: Lectures
Mode of assessment (if applicable): Examination and Mid-term

Skills / attributes: Problem solving skills
How this is developed: Lectures
Mode of assessment (if applicable): Mid-Term
 
30. Syllabus
   

Topics being covered over 12 weeks (In no particular order):
1) Bond & stock valuation; term structure of interest rates; raising finance
2) Capital budgeting and risk; theory and empirical evidence
3) Capital structure and dividend policy: theories and empirical evidences
4) Fundamentals of portfolio risk and return
5) Asset pricing (CAPM and APT) – theories and empirical evidence
6) Portfolio management and performance evaluation
7) Leasing Contracts; mergers and acquisitions
8) Understanding and Valuing Options;
9) Application of Options: Example Interest Rate Risk Management
10) Revision session & Module Evaluation
 
31. Recommended Texts
  Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.
 

Assessment
32. EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
  Assessment 1: Written Unseen Examination Assessment Type: Written Exam Duration: 2 hours Weighting: 80% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL Penalty Appl 2 80
33. CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
  Assessment 2: Mid-Term Assessment Type: Coursework Duration: 40 Minutes Weighting: 20% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL Penalty Applies Anonymous A 40 20