APMA101-Business Planning and Control

Module Provider: School of Agriculture, Policy and Development
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Autumn / Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded: AP3A82 Business Planning and Control AP3A54 Business Management (Case Studies)
Current from: 2021/2

Module Convenor: Dr Yiorgos Gadanakis
Email: g.gadanakis@reading.ac.uk

Type of module:

Summary module description:

Learn how to manage effectively a farm business by increasing the efficient use of the four factors of production (human capital, financial capital, physical capital, entrepreneurship). Gain an in depth understanding of the use of financial tools for decision making, and learn how to use the production function to efficiently allocate resources in order to maximise revenue, by examining the relationship between factor-factor, factor-product, and product-product relationship. ÌýIn addition, through practical examples and in class exercises and tutorials, review a series of tools used for farm planning and control, investment appraisal and risk analysis.Ìý

Aims:
The module has the following broad aims:
- To develop understanding of the control function of farm management
- To develop understanding of the fundamental role that planning plays in managing a farm business
This encompasses the following objectives:
- To review and interpret farm business data, particularly for measuring and analysing the performance of a business in financial terms
- To apply planning methods and techniques to facilitate managerial decisions making and resource planning

Assessable learning outcomes:
At the end of the module you will have developed the following management and core skills:
- Familiarity with the control function of management and its role in the management process, concentrating on financial record keeping and management accounting, analysis and interpretation
- Experience in carrying out the appraisal of the use of capital investment funds using Net Present Value and Internal Rate of Return
- Familiarity with various types of financial planning methods an d their actual use in business decision-making
-Whole farm and resource planning focused on land, labour and machinery use
- Knowledge of the basic methods available for structuring and analysing decisions under uncertainty
- Knowledge of the basic concepts that underpin managerial economics and the logic for taking decisions on what to produce, how to produce and how much to produce

Additional outcomes:
- Analytical thinking - developing problem-solving, numeracy, literacy, reasoning and appraisal skills
- Report writing - demonstration of ability to produce clearly written reports that meet specific criteria
- Spreadsheet skills - developing skills in the use of spreadsheets for business control (financial management) and planning (decision making)

Outline content:
1. Financial record keeping
2. Management accounting, analysis and interpretation
3. Financial planning, budgeting techniques
4. Whole farm and resource planning
5. Structuring decisions to deal with risk and uncertainty
6. Optimisation techniques for management decision making
7. Managerial economics, key concepts

Brief description of teaching and learning methods:
The delivery strategy for the module is a combination of introductory and follow-up lectures/tutorials based around exercises undertaken in class and also outside of timetabled hours.

Summative assessment- Examinations:
A two hour exam answering two questions from a choice of four.

Summative assessment- Coursework and in-class tests:
One financial management exercise. The emphasis will be on business appraisal, control and planning skills.

Formative assessment methods:
In-class exercises applying theories taught will be undertaken with immediate verbal feedback given, followed by written feedback/answer documents provided via Blackboard as appropriate

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy £Penalties for late submission for Postgraduate Flexible programmes£, which can be found here: