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
Globe

100% online course

Start instantly and learn at your own schedule.
Clock

Approx. 42 hours to complete

Suggested: 6 weeks of study, 4-5 hours/week
Comment Dots

English

Subtitles: English

Skills you will gain

Corporate GovernanceStrategic ManagementInternational Financial Reporting StandardsFinance
Globe

100% online course

Start instantly and learn at your own schedule.
Clock

Approx. 42 hours to complete

Suggested: 6 weeks of study, 4-5 hours/week
Comment Dots

English

Subtitles: English

Syllabus - What you will learn from this course

1

Section
Clock
12 minutes to complete

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. ...
Reading
1 video (Total 2 min), 1 reading
Video1 videos
Reading1 readings
Before you start10m
Clock
17 hours to complete

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....
Reading
9 videos (Total 49 min), 13 readings, 8 quizzes
Video9 videos
The Strategic Planning Process and its Stages4m
The Strategic Lenses7m
Porter's Five Forces8m
PESTEL/PESTLE Analysis8m
Explore Strategic Directions and Strategic Choice1m
Porter's Value Chain7m
Ansoff Matrix8m
Exploring Strategic Position, Choice and Action- Week 1 summary1m
Reading13 readings
Introducing Strategy10m
Recognised Limitations of Porter's Five Forces10m
Does Digitalization, Globalization and Deregulation affect the Five Forces?10m
Porter's updating and critiquing of his Five Forces...10m
Three applied examples of Porter's Five Forces10m
Now complete your own Porter's Five Forces10m
Evaluating the application of PESTEL Analysis10m
Complete your own PESTLE Analysis10m
Exploring the limitations of The Value Chain10m
Recognising the impact of digitalization on the Value Chain10m
Now complete your own Value Chain/Virtual Value Chain10m
To read the online articles concerning the Ansoff Matrix10m
Complete your own Ansoff Matrix10m
Quiz1 practice exercises
Short Answer Test based on Lessons 1 and 216m

2

Section
Clock
9 hours to complete

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. ...
Reading
13 videos (Total 51 min), 8 readings, 4 quizzes
Video13 videos
Organisational Culture7m
Cultural Web8m
The Functional Structure4m
The Divisional Structure3m
The Matrix Structure2m
The Team Structure3m
The Network Structure1m
2 Main Approaches to Strategy3m
3 Main Areas for Strategic Action4m
Monitoring and Evaluating the Strategic Actions1m
The Balanced Scorecard8m
Exploring Strategic Position, Choice and Action- Week 2 summary1m
Reading8 readings
Now Apply Schein's (1985) Three Levels of Culture to an organisation of your choice10m
Exploring the usefulness of understanding culture in assisting with organisational strategy10m
Reflective Activity: Drawing up your own Cultural Web and critiquing its usefulness in developing strategy10m
Ted Talks: "How to run a company with (almost) no rules"10m
Henry Mintzberg's 'Organisational Configurations'10m
Now draw up your own Organisational Structure10m
Critiquing the Balanced Scorecard further10m
Now draw up your own Balanced Scorecard10m
Quiz1 practice exercises
Short Answer Test Based on Lesson 3 and 416m

3

Section
Clock
3 hours to complete

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>...
Reading
7 videos (Total 17 min), 3 readings, 2 quizzes
Video7 videos
Key Drivers for the Updating to International Reporting Standards3m
Overview of Which Main Areas Have Been Subject to Updating3m
Views From Organisations and People1m
Goodwill Accounting- Issues2m
Goodwill Accounting- Changes3m
Goodwill Accounting- Comparison of Changes1m
Reading3 readings
Introducing International Reporting Standards10m
Introducing International Reporting Standards continued10m
Goodwill Accounting10m
Quiz1 practice exercises
International Reporting Standards2m

4

Section
Clock
7 hours to complete

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>...
Reading
5 videos (Total 9 min), 3 readings, 4 quizzes
Video5 videos
Lease Accounting- Changes1m
Lease Accounting-Comparison of Changes1m
Controversial Areas1m
Harmonisation with US GAAP1m
Reading3 readings
Lease Accounting10m
Economic Outcomes to the Firm and the Country10m
Convergence of Accounting Standards10m
Quiz1 practice exercises
Lease Accounting2m

5

Section
Clock
9 hours to complete

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....
Reading
8 videos (Total 20 min), 6 readings, 5 quizzes
Video8 videos
Defining Corporate Governance3m
Agency Theory1m
Agency Theory- Issues2m
Transaction Cost Theory2m
Transaction Cost Theory- Issues1m
Stakeholder Theory4m
Stakeholder Theory issues2m
Reading6 readings
A Literature Review of Corporate Governance10m
Corporate Governance and Agency Theory10m
Agency Theory10m
Cost Theory10m
Stakeholder Theory10m
What is Corporate Governance?- Summary10m
Quiz1 practice exercises
Corporate Governance Quiz 14m

6

Section
Clock
8 hours to complete

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....
Reading
9 videos (Total 24 min), 6 readings, 4 quizzes
Video9 videos
The Role of the Board2m
Board of Directors3m
The Role of Shareholders1m
The Role of Shareholders- Issues3m
The Role of Internal Control and Risk Management2m
The Role of Internal Control and Risk Management- Issues2m
The Role of Audit2m
The Role of Audit- Issues0m
Reading6 readings
First ideas10m
The Role of the Board10m
The Role of Shareholders10m
The Role of Audit10m
The Role of Audit continued10m
The Role of Audit- Part 210m
Quiz1 practice exercises
The Role of Audit6m
4.7
Direction Signs

50%

started a new career after completing these courses
Briefcase

83%

got a tangible career benefit from this course

Top Reviews

By PSMay 10th 2016

Awesome course. I would definitely recommend it to any Finance professional wanting to keep abreast with the various changes in the profession.

By FAJun 1st 2017

Was such a refreshing experience. REally helps to get you back in the swing i.e. the mood of things.. A 5 star course

Instructors

Avatar

Dr Sarah Warnes

Teaching Fellow
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Dr Alan Parkinson

Deputy Director (Education), School of Management
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Mr Suman Saha

Visiting Academic

About University of London

The University of London is a federal University which includes 18 world leading Colleges. Our distance learning programmes were founded in 1858 and have enriched the lives of thousands of students, delivering high quality University of London degrees wherever our students are across the globe. Our alumni include 7 Nobel Prize winners. Today, we are a global leader in distance and flexible study, offering degree programmes to over 50,000 students in over 180 countries. To find out more about studying for one of our degrees where you are, visit www.london.ac.uk...

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