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Business Economics and Business Finance Fundamentals (BEF)

About This Course

This course unit is divided into two parts, Business Economics (70%) and Business Finance Fundamentals (30%). The test paper, with the following composition, will be of three hours duration. Part I (20 marks): Consists of around ten multiple choice/ structured questions that require short answers. Questions will be distributed proportionately between Business Economics and Business Finance Fundamentals. Part II (80 marks): Consists of two sections, Section A: Business Economics (4 questions) and Section B: Business Finance Fundamentals (2 questions). Candidates are required to answer four questions in all, selecting three questions from Section A and one question from Section B. Introduction Business Economics Every decision made in an organization has a finance element in it. Hence, financial management is of vital significance in managing organizations. Management accountants invariably have to be familiar with aspects of finance. In this context, this foundation level course unit provides an introductory but comprehensive description of the concepts and practice of financial management, which will be treated at length in subsequent course units in the study programme.

Learning Outcomes

On successful completion of the course the students will be able to:

  • State the basic economic questions faced by societies and the different approaches adopted by governments to solve these problems
  • Describe how a modern economy works and explain the consequences that would follow when government intervenes in the operation of the free market
  • State the distinguishing features of different market structures and describe how a firm achieves equilibrium under different market structures
  • emonstrate how National Income accounts can be used to evaluate the level of economic activity of a country, the growth rate of the economy and the living standards of a population
  • Describe the implications of Governments fiscal, monetary, and exchange rate policies for a firms operations
  • Your Instructors

    Ruwan Samarakoon
    ( Finance Hons,MBA,ACA,ACMA)