Keeping up with Change: Issues for the Finance Professional

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Description

About this course: This MOOC identifies and explores a number of challenges to the finance professional arising from the ever changing business environment. Increasingly, financial decisions must take account of strategic consequences. The first module, Exploring Strategic Position, Choice and Action helps in doing that – setting a strategic context for planning for, monitoring and controlling projects and activities. An on-going set of challenges is found in the evolution of International Reporting Standards. The second module focuses on some recent changes in Standards, identifying the drivers for changes, and examining evolution in controversial areas such as leasing and goodwill. Th…

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When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: This MOOC identifies and explores a number of challenges to the finance professional arising from the ever changing business environment. Increasingly, financial decisions must take account of strategic consequences. The first module, Exploring Strategic Position, Choice and Action helps in doing that – setting a strategic context for planning for, monitoring and controlling projects and activities. An on-going set of challenges is found in the evolution of International Reporting Standards. The second module focuses on some recent changes in Standards, identifying the drivers for changes, and examining evolution in controversial areas such as leasing and goodwill. The third and final module, Corporate Governance, examines issues which are causing people to re-assess the nature, purpose and scope of corporate governance, and challenges to making governance function effectively. Key issues here are the move to include a broader range of stakeholders, the perennial challenge of agency theory issues, shareholder activism, changing Board structures, and challenges to internal control to better manage risk. This MOOC will be right for you if you are interested in engaging with some of the challenges facing finance professionals, even if you are not one yourself. If you are thinking about returning to study this will provide a taster of academic endeavours through reading articles, critiquing ideas, and blending theory with reality

Created by:  University of London
  • Taught by:  Dr Sarah Warnes, Teaching Fellow

    School of Management, UCL
  • Taught by:  Dr Alan Parkinson, Deputy Director (Education), School of Management

    UCL, University of London
  • Taught by:  Mr Suman Saha, Visiting Academic

    UCL School of Management
Commitment 6 weeks of study, 4-5 hours/week Language English How To Pass Pass all graded assignments to complete the course. User Ratings 4.7 stars Average User Rating 4.7See what learners said Coursework

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Syllabus


WEEK 1


Welcome to Keeping up with Change: Issues for the Finance Professional



Welcome to Keeping up with Change: Issues for the Finance Professional. This course identifies and explores a number of challenges to the finance professional arising from the ever changing business environment. Increasingly, financial decisions must take account of strategic consequences.


1 video, 1 reading expand


  1. Reading: Before you start
  2. Video: Introduction


Exploring Strategic Position, Choice and Action (Part 1)



Welcome to the first topic of 'Keeping up with Change: Issues for the Finance Professional'. In this module you will be exploring the four key areas of: Strategic Position, Strategic Direction and Choice, Strategic Action and Evaluating Strategic Action. Throughout the module you will have the opportunity to apply all of you learning into context, be that based on your own organisation, or your professional experience in general. This will enabling you to apply the theoretical models we cover in the module to your professional practice.


9 videos, 13 readings expand


  1. Video: Exploring Strategic Position, Choice and Action- Introduction to week 1
  2. Reading: Introducing Strategy
  3. Video: The Strategic Planning Process and its Stages
  4. Video: The Strategic Lenses
  5. Video: Porter's Five Forces
  6. Reading: Recognised Limitations of Porter's Five Forces
  7. Peer Review: Your Critique of Porter's Five Forces
  8. Reading: Does Digitalization, Globalization and Deregulation affect the Five Forces?
  9. Peer Review: Do you think an additional Force should be added to the Five Forces, Yes or No?
  10. Reading: Porter's updating and critiquing of his Five Forces...
  11. Reading: Three applied examples of Porter's Five Forces
  12. Reading: Now complete your own Porter's Five Forces
  13. Video: PESTEL/PESTLE Analysis
  14. Reading: Evaluating the application of PESTEL Analysis
  15. Reading: Complete your own PESTLE Analysis
  16. Peer Review: Reviewing Completed PESTLE Analysis
  17. Peer Review: Is there a need to develop the strategic management tool of PESTEL?
  18. Video: Explore Strategic Directions and Strategic Choice
  19. Video: Porter's Value Chain
  20. Reading: Exploring the limitations of The Value Chain
  21. Reading: Recognising the impact of digitalization on the Value Chain
  22. Reading: Now complete your own Value Chain/Virtual Value Chain
  23. Video: Ansoff Matrix
  24. Reading: To read the online articles concerning the Ansoff Matrix
  25. Reading: Complete your own Ansoff Matrix
  26. Peer Review: Completion of the Ansoff Matrix
  27. Video: Exploring Strategic Position, Choice and Action- Week 1 summary

Graded: Completed Porter's Five Forces
Graded: Completed Value Chain
Graded: Short Answer Test based on Lessons 1 and 2

WEEK 2


Exploring Strategic Position, Choice and Action (Part 2)



Welcome to the second part of the first topic of 'Keeping up with Change: Issues for the Finance Professional'. In this module you will be exploring two further key areas of: Strategic Action and Evaluating Strategic Action. Throughout the module you will have the opportunity to apply all of you learning into context, be that based on your own organisation, or your professional experience in general. This will enabling you to apply the theoretical models we cover in the module to your professional practice.


13 videos, 8 readings expand


  1. Video: Exploring Strategic Position, Choice and Action- Introduction to week 2
  2. Video: Organisational Culture
  3. Reading: Now Apply Schein's (1985) Three Levels of Culture to an organisation of your choice
  4. Peer Review: Applications of Schein's Three Levels of Culture
  5. Video: Cultural Web
  6. Reading: Exploring the usefulness of understanding culture in assisting with organisational strategy
  7. Reading: Reflective Activity: Drawing up your own Cultural Web and critiquing its usefulness in developing strategy
  8. Video: The Functional Structure
  9. Video: The Divisional Structure
  10. Video: The Matrix Structure
  11. Video: The Team Structure
  12. Video: The Network Structure
  13. Reading: Ted Talks: "How to run a company with (almost) no rules"
  14. Reading: Henry Mintzberg's 'Organisational Configurations'
  15. Reading: Now draw up your own Organisational Structure
  16. Video: 2 Main Approaches to Strategy
  17. Video: 3 Main Areas for Strategic Action
  18. Discussion Prompt: Discussion thread: Current Strategic Actions
  19. Video: Monitoring and Evaluating the Strategic Actions
  20. Video: The Balanced Scorecard
  21. Reading: Critiquing the Balanced Scorecard further
  22. Reading: Now draw up your own Balanced Scorecard
  23. Peer Review: Completed Balanced Scorecard
  24. Video: Exploring Strategic Position, Choice and Action- Week 2 summary

Graded: Completed Organisational Structure
Graded: Short Answer Test Based on Lesson 3 and 4

WEEK 3


International Reporting Standards (Part 1)



<p>Welcome to the topic of ‘International Reporting Standards’. In this module you will be exploring the two key areas of International Reporting Standards: Drivers for the updating to the International Reporting Standards and Goodwill Accounting.</p><p>The module has been designed leaving spaces for you to contribute to your learning by using your own experiences in life and at work. The module should help you to understand and examine some of the changes International Reporting Standards is undergoing currently and the drivers influencing these changes. Working through the module should also help you to identify the challenges faced by the effort and an opportunity to comprehend some of the possible ways to minimize these challenges. Overall, the module should help you to gain insight on the nature of changes happening in the International Reporting Standards while enabling you to reflect on some of the changes which we can anticipate in the future. </p>


7 videos, 3 readings expand


  1. Video: International Reporting Standards- Overview
  2. Video: Key Drivers for the Updating to International Reporting Standards
  3. Video: Overview of Which Main Areas Have Been Subject to Updating
  4. Video: Views From Organisations and People
  5. Reading: Introducing International Reporting Standards
  6. Discussion Prompt: International Reporting Standards
  7. Reading: Introducing International Reporting Standards continued
  8. Video: Goodwill Accounting- Issues
  9. Video: Goodwill Accounting- Changes
  10. Video: Goodwill Accounting- Comparison of Changes
  11. Reading: Goodwill Accounting

Graded: International Reporting Standards
Graded: Goodwill accounting

WEEK 4


International Reporting Standards (Part 2)



<p>Welcome to the second part of the topic of ‘International Reporting Standards’. In this module you will be exploring the two more key areas of International Reporting Standards: Lease Accounting and Where to be in the Future. </p><p>The module has been designed leaving spaces for you to contribute to your learning by using your own experiences in life and at work. The module should help you to understand and examine some of the changes International Reporting Standards is undergoing currently and the drivers influencing these changes. Working through the module should also help you to identify the challenges faced by the effort and an opportunity to comprehend some of the possible ways to minimize these challenges. Overall, the module should help you to gain insight on the nature of changes happening in the International Reporting Standards while enabling you to reflect on some of the changes which we can anticipate in the future.</p>


5 videos, 3 readings expand


  1. Video: Lease Accounting- Issues
  2. Video: Lease Accounting- Changes
  3. Video: Lease Accounting-Comparison of Changes
  4. Reading: Lease Accounting
  5. Discussion Prompt: Lease Accounting
  6. Video: Controversial Areas
  7. Reading: Economic Outcomes to the Firm and the Country
  8. Peer Review: Economic Outcomes to the Firm and Country
  9. Video: Harmonisation with US GAAP
  10. Reading: Convergence of Accounting Standards
  11. Peer Review: Convergence of Accounting Standards

Graded: Lease Accounting
Graded: International Reporting Standards

WEEK 5


Corporate Governance (Part 1)



Welcome to the final topic of 'Keeping up with Change: Issues for the Finance Professional'. In this module you will be exploring a range of important elements within the arena of Corporate Governance. These are located under two broad headings: What is Corporate Governance? and Making Governance Work. In the first part considering the nature of corporate governance we look at Agency Theory, Transaction Cost Theory, and Stakeholder Theory. In seeking effective governance we examine the significance of the roles of each of the Board, Shareholders, Internal Control and Risk Management, and Internal Audit. Throughout the module you will have the opportunity to apply all of your learning into context, be that based on your own organisation, or your professional experience in general. This will help you to apply theory to reality, not least in the form of peer review assessments.


8 videos, 6 readings expand


  1. Video: Issues in Corporate Governance
  2. Video: Defining Corporate Governance
  3. Reading: A Literature Review of Corporate Governance
  4. Reading: Corporate Governance and Agency Theory
  5. Video: Agency Theory
  6. Video: Agency Theory- Issues
  7. Reading: Agency Theory
  8. Peer Review: Agency Theory
  9. Video: Transaction Cost Theory
  10. Video: Transaction Cost Theory- Issues
  11. Reading: Cost Theory
  12. Peer Review: Cost Theory
  13. Video: Stakeholder Theory
  14. Video: Stakeholder Theory issues
  15. Reading: Stakeholder Theory
  16. Peer Review: Stakeholder Theory
  17. Reading: What is Corporate Governance?- Summary

Graded: Corporate Governance Quiz 1
Graded: What is Corporate Governance?

WEEK 6


Corporate Governance (Part 2)- Making Governance Work



Welcome to the second part of the final topic of 'Keeping up with Change: Issues for the Finance Professional'. Here you will be exploring four important components of effective corporate governance in an increasingly complex and challenging world. These are the Role of the Board, the Role of Shareholders, the Role of Internal Control and Risk Management, and finally the Role of Internal Audit. The underpinning ideas are linked to the real world, and through a number of activities you will be able to make your own links with the reality of the world, not least in the guise of peer review assessments.


9 videos, 6 readings expand


  1. Video: Making Governance Work
  2. Video: The Role of the Board
  3. Video: Board of Directors
  4. Reading: First ideas
  5. Reading: The Role of the Board
  6. Discussion Prompt: The Role of the Board- discussion
  7. Video: The Role of Shareholders
  8. Video: The Role of Shareholders- Issues
  9. Reading: The Role of Shareholders
  10. Discussion Prompt: The Role of Shareholders
  11. Peer Review: The Role of Shareholders
  12. Video: The Role of Internal Control and Risk Management
  13. Video: The Role of Internal Control and Risk Management- Issues
  14. Video: The Role of Audit
  15. Video: The Role of Audit- Issues
  16. Reading: The Role of Audit
  17. Reading: The Role of Audit continued
  18. Reading: The Role of Audit- Part 2

Graded: The Role of the Board
Graded: The Role of Audit
Graded: Making Governance Work

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