FIS404 - Finance for Retail and Small Business
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|Last revision date||Jul 14, 2014 8:27:47 AM|
|Last review date||Jul 14, 2014 8:27:47 AM|
Finance for Retail and Small Business
This subject develops and extends your understading of the basic tools of financial management used by retailers and entrepreneurs in planning, analyzing and controlling their businesses. We will focus, in particular, on managing the finances of retail and small businesses. Upon successful completion of this subject, you will be able to: a)Apply analysis techniques to identify potential strengths and weaknesses in a company's financial management. b)Explain the use, advantages and disadvantages of debt and equity in raising money for a business. c)Understand what sources and techniques are available to provide short, medium, and long-term financing for a small business. d)Explain and apply common techniques for managing cash, receivables and inventory. e)Use productivity and internet tools to complete financial analyses and reports.
This subject counts as one credit in Faculty of Business programs.
Upon successful completion of this subject the student will be able to:
1. Discuss the knowledge and activities required to manage your business finances.
2. Review the key financial reports of retailers and small businesses.
3. Use financial statements and financial analysis to assess the financial strengths and weaknesses of your business.
4. Prepare financial forecasts at the company level and responsibility level; apply variance analysis.
5. Explain and evaluate credit policies and collection procedures.
6. Explain the retail inventory system; explain and apply various techniques to minimize inventory levels.
7. Display a working knowledge of the sources and features of short, medium and long-term financing for the small business.
8. Evaluate the effective cost of trade credit, bank loans and lease financing.
9. Utilize word processing, spreadsheet, and internet applications to research, analyze and report on financial management issues.
Essential Employability Skills
Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.
Respond to written, spoken, or visual messages in a manner that ensures effective communication.
Execute mathematical operations accurately.
Apply a systematic approach to solve problems.
Use a variety of thinking skills to anticipate and solve problems.
Locate, select, organize, and document information using appropriate technology and information systems.
Analyze, evaluate, and apply relevant information from a variety of sources.
Manage the use of time and other resources to complete projects.
Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.
To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at email@example.com.
Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.