Business and Accounting
This module provides students with a broad understanding of mathematical functions, with statistical applications. Students will cover trigonometry and calculus as these are key Mathematical concepts at this level, and data handling as a mathematical field as well as a research tool.
Students will develop analytical and problem-solving skills through application of mathematical and
statistical knowledge to real-world problems.
It serves progression to a range of UG degrees covering core maths at a Foundation Level benchmarked
at RQF Level 3 and Data Handling, interpretation and theory for use across all disciplines.
Learning Aims (include but are not limited to)
These over-arching aims are broken down into the three key Assessment Objectives and are assigned to RQF Level 3 descriptors with some statistics overlap in the content.
Students will be able to:
- Use and apply mathematical strategies in the fields of geometry, number, applied financial maths, statistics, algebra and graphical / illustrative information presentation;
- Solve algebraic problems from abstract, physical and graphical contexts, using skills including co-ordinate geometry, indices, surds, logs, calculus and trigonometry;
- Design, construct and accurately review a range of graphical information sets;
- Design, construct & evaluate data collection methods & presentation strategies in context and for a range of purposes;
- Use statistical calculations, including measures of central tendency, measures of spread, correlation and regression to analyse data, interpret it in context and provide suggested explanations for anomalies in data;
- Analyse complex data sets making judgements about trends, typicality and outliers, justifying
interpretations and explaining understanding; - Qualify the interpretation of data sets, identifying weaknesses in the model/s or offering alternative
interpretations / approaches; - Use a variety of probability distributions to analyse contextual problems;
- Demonstrate an understanding of a range of financial contexts, identify key information and be able to perform calculations relating to interest rates;
- Combine knowledge from multiple areas of study to synthesize solutions to unexpected scenarios.
Assessment Objectives
Students will be able to:
- Understand the purpose and types of business organisations and how they interact with key stakeholders and external environment;
- Recognise the principles of leadership and how teams and individuals are managed and motivated;
- Demonstrate the knowledge and understanding of organisational structure, culture and corporate social responsibility;
- Demonstrate data skills and describe accounting function in business and explain the nature, sources and purpose of management information;
- Understand and apply the management accounting terminology and techniques used by business managers for planning, controlling and making economic decisions;
- Understand the nature and purpose of budgeting and prepare cash budget.
AO 1: Use and apply standard techniques. Students should be able to:
- Select and correctly carry out routine procedures;
- Accurately recall facts, terminology and definitions.
AO 2: Reason, interpret and communicate mathematically. Students should be able to:
- Construct rigorous mathematical arguments (including proofs at higher graded outcomes);
- Make deductions and inferences;
- Assess the validity of mathematical arguments;
- Explain their reasoning;
- Use mathematical language, syntax and notation correctly.
AO 3: Solve problems within mathematics and in other contexts. Students should be able to:
- Translate problems in mathematical and non-mathematical contexts into mathematical processes;
- Interpret solutions to problems in their original context, and, where appropriate, evaluate their
accuracy and limitations; - Translate situations in context into mathematical models;
- Use mathematical models;
- Evaluate the outcomes of modelling in context, recognise the limitations of models and, where
appropriate, explain how to refine them.Translate situations in context into mathematical models; - Use mathematical models;
- Evaluate the outcomes of modelling in context, recognise the limitations of models and, where
appropriate, explain how to refine them.
Where questions/tasks targeting any assessment objective will also require abilities demanded by others, an appropriate proportion of the marks for the question/task will be attributed to the corresponding assessment objective(s).
All AOs are assessed in each assessment, this includes both exam papers and the pre-release task. The weighting of the raw marks in each assessment is by credit value (below) allowing students to develop their skills in a linear route through the course with depth and breadth built in the model and assessment scheme. The exams therefore indicate which specific Learning Outcomes in the specification are assessed at each assessment point.
Indicative Assessment tasks:
| Assessment | Indicative weighting | Indicative length | |
|---|---|---|---|
| 1. |
Paper 1 Exam Covering LOs 1-31 |
10 credits | 1 hour 50 minutes |
| 2. |
Presentation: Covering LOs 32-41 |
5 credits | 5-10 minutes |
| 3. |
Paper 2 Exam Covering All LOs |
15 credits | 2 hours 50 minutes |