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UNIVERSITI TEKNOLOGI MARA
Course Name (English)
RETAIL FINANCIAL DECISION MAKING
Course Code
RET550
MQF Credit
4
Course Description
The course introduces students to the financial aspects of retail management and helps student develop critical thinking skills in decision making.
Transferable Skills
decision making Analysis
Teaching Methodologies
Lectures, Problem Based Learning (PBL), Discussion
CLO
CLO1
Analyze concepts and principles in solving retail financial issues and problems.
CLO2
Initiate self-improvement skills in retail financial environment.
CLO3
Demonstrate leadership skills and responsibility in managing retail financial operations.
Pre-Requisite Courses
No course recommendations
Topics
1. Introduction
1.1) Definition of retail and merchandising business.
1.2) Retail business objectives: financial objectives, societal objectives and personal objectives.
1.3) Retail financial strategy.
2. Cost Classification
2.1) Definition
2.2) Classification of cost
2.3) Types of cost
2.4) Elements of cost
3. Financial Statement Analysis
3.1) Preparations of financial statements (income statement, balance sheet and cashflow statement)
3.2) Identifying and preparation of financial ratios
3.3) Interpretation of ratios.
3.4) Implications for improving financial performance.
4. Product Costing: Costing For Materials
4.1) Importance and purpose of costing for materials
4.2) Purchasing procedures
4.3) Stock control
4.4) Issues and stock valuation
4.5) Documentation
5. Product Costing: Costing For Overhead
5.1) Definition and purpose
5.2) Classification
5.3) Apportionment and reapportionment
5.4) Absorption
6. Decision Making
6.1) Definition and concepts
6.2) Relevant costs
6.3) Breakeven analysis
6.4) Capital budgeting techniques- Net Present Value (NPV), Accounting Rate of Return (ARR) and Payback Period
7. Control: Planning
7.1) Definition and importance of control
7.2) Sales forecast
7.3) Sales budget
7.4) Preparation of cash budget
7.5) Preparation of pro forma income statement and balance sheet
8. Control: Variances
8.1) Setting standards
8.2) Computation of variances
8.3) Reporting of variances
Assessment Breakdown
%
Continuous Assessment
100.00%
Details of Continuous Assessment
Assessment Type
Assessment Description
% of Total Mark
CLO
Assignment
Group assignment: Determination of retail pricing
20%
CLO2
Assignment
Group assignment-retail financial planning
20%
CLO3
Final Test
Final Test
20%
CLO1
Group Project
Report on decision making in handling retail financial issues.
30%
CLO3
Test
Mid term Test
10%
CLO1
Reading List
Recommended Text
Das, P. 2013, Cost Accounting, 5th Ed., Oxford University Press
Ng K.K, Zhang W., Maran M., and Sandeep B 2013, Financial Management: Second Edition, Oxford Press
Article/Paper List
This Course does not have any article/paper resources