Module Code: H7FFR
Long Title Finance for Retail
Title Finance for Retail
Module Level: LEVEL 7
EQF Level: 6
EHEA Level: First Cycle
Credits: 5
Module Coordinator: DAVE CORMACK
Module Author: DAVE CORMACK
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Recognise the differences among and uses of: the income statement, the balance sheet, and a statement of cash flow
LO2 Explain the concepts of margin management
LO3 Consider the financial implications of shrink management and stock management
LO4 Evaluate the key drivers of effective financial management/sales performance within a retailing outlet
LO5 judge how to optimize staff costs
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
Financial Records
• Sales records • Merchandise inventory records • Cash outflow records • The financial position
Cost Accumulation Systems
• Cost elements and cost classification • Direct materials • Direct labour • Overheads • Allocation, apportionment and absorption of overheads • Absorption costing and overhead absorption rates (OHAR) • Job and batch costing methods • Contract costing • Process costing • Joint and by-product costing • Service and operation costing
Financial Management
• Net profit margin • Asset turnover • Return on assets • Financial leverage • Return on net worth
The Merchandise Budget
• Planning the purchase of stock • Projecting sales for a future period • What markups and reductions are required • Gross margin
Shrink Management
• Establishing organizational commitment and ownership • Employee theft • Shrinkage prevention - Store layout - Anti theft measures -
Margin Management
• The power of margin • Overheads • Calculating margin • Pricing strategies • Impact of product mix on overall margin
Retail Profit Margin Accelerators (RPMA)
• Increase in volume • Increase in price • Decrease in cost of goods sold • Decrease in expenses • Using RPMA analysis
Assessment Breakdown%
Coursework70.00%
End of Module Assessment30.00%

Assessments

Full Time

Coursework
Assessment Type: Case Study % of total: 70
Assessment Date: n/a Outcome addressed: 1,2,3,4,5
Non-Marked: No
Assessment Description:
The student will be presented with a retail based case study for which they will be required to prepare and use a Budget and or a Cash flow forecast to demonstrate an understanding of how financial data is collected, processed, presented and interpreted to support a business
End of Module Assessment
Assessment Type: Terminal Exam % of total: 30
Assessment Date: End-of-Semester Outcome addressed: 1,2,3,4
Non-Marked: No
Assessment Description:
Students will be asked to answer a range of questions relevant to the module
No Workplace Assessment

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
 

Module Resources

Recommended Book Resources
  • KPMG. (2013), The Application of IFRS: Retail Companies.
  • Patrick M Dunne, Robert F Lusch, James R Carver. (2014), Retailing, 8th. Cengage Learning, [ISBN: 9781285091136].
This module does not have any article/paper resources
This module does not have any other resources
Discussion Note: