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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 Assessment100.00%
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 ListThis Course does not have any article/paper resources
Other ReferencesThis Course does not have any other resources