Posted: March 23rd, 2023

BAC6020 – Corporate Finance and Risk

Assessment

Brief

Module Code

Module Title

CSM

BAC6020 – Corporate Finance and Risk

Academic Year

Semester

2022/2023

Two

Module Leader emai

Content

Assessment Details 2

Submission Details 3

Assessment Criteria 3

Further Information 11

Who can answer questions about my assessment? 11

Referencing 11

Submission problems 11

Unfair academic practice 11

How is my work graded? 12

Assessment Details

Assessment title

Abr.

Weighting

Report

WRIT1

50%

Pass marks are 40% for undergraduate work.

Task/assessment brief:

report: WRIT 1 2,000 words

Activity:

You are a financial analyst for a public listed company in the UK. You are required to select one public listed company from the list below:

• GlaxoSmithKline (GSK LN)

• AstraZeneca (AZN LN)

Your shareholders would like to value their own enterprise for the past one year to evaluate the company’s financial position in the market. You are required to conduct some analyses and write a 2,000-word report.

Deadline:

This coursework should be submitted electronically at the Turnitin (via Moodle)

For further Helpance, please refer to the detail guidance and the marking schemes for this report.

Word count (or equivalent): 2,000 words

This a reflection of the effort required for the assessment. Word counts will normally include any text, tables, calculations, figures, subtitles and citations. Reference lists and contents of appendices are excluded from the word count. Contents of appendices are not usually considered when determining your final assessment grade.

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Submission Details

Submission

Deadline:

Submission

Time:

Moodle/Turnitin:

Estimated Feedback This will normally be 20
Return Date working days after initial
submission.

16:59 (pm)

Any assessments submitted after the deadline will not be marked and will be recorded as a non-attempt unless you have had an extension request agreed or have approved mitigating circumstances. See the School Moodle pages for more information on extensions and mitigating circumstances.

File Format: The assessment must be submitted as a pdf document (save the document as a pdf in

your software) and submit through the Turnitin submission point in Moodle.

Your assessment should be titled with your:

student ID number, module code and assessment ID,

e.g. st12345678 BHL5007 WRIT1

Feedback Feedback for the assessment will be provided electronically via Moodle. Feedback will be

provided with comments on your strengths and the areas which you can improve. View the guidance on how to access your feedback.

All marks are provisional and are subject to quality assurance processes and confirmation at the programme Examination Board.

Assessment Criteria

Learning outcomes assessed

On completion of this coursework, you will be able to:

NO Module Descriptors – Learning Outcomes:

1 Demonstrate understanding of the functions of
global financial markets.

2 Identify and apply advanced investment appraisal techniques for decision-making.

3 Demonstrate understanding of the various types of risk global corporations face.
Evaluate risk, adjust for risk and understand how to
4 manage the various types of risk.

5 Evaluate the impact of corporate governance on listed companies.

2,000 Words Report 2 hours

(50%) CTEST

(50%)

✓

✓

✓

✓

✓

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Other skills/attributes developed

This includes elements of the Cardiff Met EDGE (Ethical, Digital, Global and Entrepreneurial skills) and other attributes developed in students through the completion of the module and assessment. These will also be highlighted in the module guidance, which should be read by all students completing the module. Assessments are not just a way of auditing student knowledge. They are a process which provides additional learning and development through the preparation for and completion of the assessment.

> Using London Stock Exchange (LSE), FT.com, Bloomberg, Fitch Connect or Yahoo! Finance to extract the daily closing share prices from.

Marking/Assessment Criteria

The key areas are:

Key Area Mark (%)
Background of the Company 10%
Risk and Return of the Company 25%
Summary 15%
TOTAL 50%

In each of the areas, you are to report your findings using the questions provided below as a guide.

• Do not merely answer the questions. You will have to provide details on where you sourced the information.

• Do not use uncredible sources (e.g., Investopedia, Wikipedia, etc.) for scholarly references (i.e., anyone can claim an authorship on the article/ information shared).

• Do not cut and paste the figures and diagrams from the Bloomberg, the company’s annual report, London Stock Exchange (LSE), Financial Times (FT), Yahoo! Finance and other websites directly and used them as a part of the illustration in your report.

1. Background of the Company (10%)

In this section, you are required to provide a short introduction of the company including:

• The history of the company

• The size and operation of the company

• A brief overview of the financial performance of the company

• The recent financial news of the company

You must give bibliographic references to the sources of your information.

2. Risk and Return of the Company (25%)

In this section, you are required to calculate the risk and return of the shares of the company.

1. Use Bloomberg, LSE, FT or Yahoo! Finance websites to extract the daily closing share prices of the company for the most recent 1 year. The dates used should match the dates of the annual report (e.g., if the ending date of the company annual report is 31 March 2018, then you should extract the daily closing share prices from 28 March 2017 to 31 March 2018).
2. Extract also, the values of the FTSE index (represented by FTSE All-Share, FTSE 100, or FTSE 250), over the same period.
3. Note down any dividend payments that may have been made within this period. If the share pays dividends in a foreign currency (e.g., USD), you will have to convert that to the home currency (GBP) using the quoted exchange rate on the date of dividend payment. Similarly, if the share is quoted in a

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foreign currency (e.g., USD), you will have to convert that to the home currency (GBP), using the quoted exchange rate for each trading day.

Calculate the following:

a. The rate of return in each day for the share and the FTSE index. The rate of return is the capital gain plus the dividend received. In calculating the rate of returns, make sure that appropriate adjustments are made for dividend payments, in respect of the share. Some companies pay dividends twice a year: interim and final dividend. Some companies may pay a special dividend. You are required to show all the workings in calculating the rate of returns. Supplement your results with graphs or charts as appropriate.

b. The arithmetic mean returns of the share and the FTSE index for the entire period.

c. The variance and standard deviation of returns for the share and the FTSE index.

d. The covariance of returns between the share and the FTSE index.

e. The correlation coefficients between the share and the FTSE index.

3. Summary (15%)

In this section, you are required to critically evaluate on the risk and return characteristics and the performance of the share with the FTSE index.

Compare your results in the Section 2, from (a) to (e), for the share and the FTSE index. Evaluate critically on the results, relating to what you have learnt in this module. Comment the risk and return pattern and the performance of the share and the FTSE index to relevant events that took place during this period. Discuss on economic, political, industry and company related events that took place over this period that may have impacted on the performance of the share and the FTSE index.

What are your recommendations towards the potential risk and return of the company in the future? You can also include analyst recommendations from the Bloomberg and other credible websites. Please state your sources of information clearly.

Academic or technical terms explained:

London Stock Exchange (LSE)

Financial Times (FT)

Format of Report

The presentation of the coursework should be professionally typed in 1.5 line spacing and 12pt font size. Each page must be numbered with Arabic numerals (1, 2, 3, etc.). Paper size is A4 with margins of left 2.54cm, right 2.54cm, top 2.54cm, and bottom 2.54cm.

It should not be more than 2000 (+- 10%) words for WRIT1 coursework. The word count excludes tables, figures, footnotes and references. A word count must be stated at the end of your report.

Your student identification number must be clearly stated at the top right of each page of your work.

1. Section Heading

> The numbering of headings will be in Arabic numerals.

> Headings will be located at the left margin in bold print.

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> Headings may be in capitals or a combination of upper and lower case (i.e. Capitalise the First Letter of Main Words).

2. Table /Figure Heading

> Tables /Figures must be numbered (e.g. Figure 1 or Table 1).

> Every table /figure will have a title.

> The title will be located at the left margin.

> The title may be in capitals or a combination of upper and lower case (i.e. Capitalise the First Letter of Main Words).

3. Notes to Tables / Figures

Notes to contents in tables/ figures are to be provided directly below the tables/ figures.

You must show all appropriate working using EXCEL and present all spreadsheets as an Appendix in the report. There must be a clear reference made to the content of your work.

The referencing style for this module is Harvard. All referencing must adhere to the School/University requirements:

AS_Guide_Referencing.pdf (cardiffmet.ac.uk)

Marking Scheme

Marks

Descriptions

(%)

90 – 100

In the work presented for assessment, students awarded marks within this band will, in

addition, have demonstrated a full and detailed understanding of the set task and an ability

to have met the learning outcomes and address the assessment criteria at an outstanding
and exceptional level. Within the assessment submission the student may demonstrate:

• Work is of a standard deemed to be worthy of publication/manufacture/public

exhibition/public performance.
• In written coursework, reference citations extend significantly beyond the main body

of reading normally expected in the discipline/field of study. In examinations, a

substantial range of reference citations is included.
• Work may challenge the boundaries of knowledge within the discipline/field of study

and is informed by innovative and/or creative thinking.
• New insights are offered that are informed by critical Assessment of current

research/scholarship/professional practice.
• Students demonstrate the ability to design and undertake their own research or

advanced scholarship, applying relevant techniques and methods appropriately.
• The exceptional standard of the work extends beyond that expected at Level 6 and has

features consistent with Level 6.

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80 – 89In the work presented for assessment, students awarded marks/grades within this band will have demonstrated a full and detailed understanding of the set task and an ability to have met the learning outcomes and address the assessment criteria at an excellent level.

70 – 79In the work presented for assessment, students awarded marks within this band will have demonstrated a full and detailed understanding of the set task and an ability to have met the learning outcomes and address the assessment criteria at a very good level. Within the assessment submission the student may demonstrate:

• a detailed knowledge and systematic understanding of key aspects of the field of study relevant to the task. There is strong evidence of an ability to extend, transform and apply such knowledge. The student also demonstrates an ability to engage in confident discussion of complex concepts and to recognise the limitations and/or ambiguity of disciplinary knowledge. Independent thinking and original insights are also features of work at this level;

• an ability to communicate information, complex ideas and concepts in a coherent and succinct manner. The standard of presentation is high and the format appropriate. Key points are logically organised and in written work, the style is lucid and mature. Arguments are well-defined and clearly articulated;

• demonstrates an ability to undertake detailed analysis and critical enquiry of qualitative and quantitative data relevant to the task/discipline by making excellent use of a number of appropriate techniques. The student is highly successful in presenting synthesising and commenting on outcomes and is able to comment perceptively and with insight on the relationship between theory and practice;

• a detailed and thorough knowledge of current research/advanced scholarship in the discipline. The use of scholarly reviews/primary sources is confident and a breadth and depth of individual reading and investigation, extending beyond the sources provided, is apparent. The referencing of literature and other sources is accurate and in line with academic conventions. A thorough knowledge and understanding of research processes, techniques and methods are demonstrated along with an ability to apply research knowledge and skills successfully in appropriate contexts;

• an ability to engage in critical Assessment of concepts/arguments/data and to make appropriate and informed judgements. Arguments are well developed, sustained and substantiated. Where relevant, assumptions are challenged and there is clear recognition of the complexities of academic debate. Appropriate and sometimes innovative solutions are offered to problems. There is strong evidence that the student is able to reflect effectively on her/his own practice. Critical Assessment of the student’s own work and/or professional practice is highly perceptive and there is a full awareness of the implications for future development.

60 – 69In the work presented for assessment, students awarded marks within this band will have demonstrated a full understanding of the set task and an ability to have met the learning outcomes and address the assessment criteria at a good level. Within the assessment submission the student may demonstrate:
• a detailed knowledge and thorough understanding of key aspects of the field of study relevant to the task. There is clear evidence of an ability to apply such knowledge and, in some contexts, to extend and transform it. The discussion of complex concepts is often tackled successfully and there is evidence of independent thinking.

• an ability to communicate information, ideas and concepts clearly and succinctly. Work is well presented and the format appropriate. Key points are appropriately organised and in written work, the writing style is fluent, and arguments are well articulated.

• an ability to undertake detailed analysis and critical enquiry relevant to the task/discipline by making use of appropriate techniques and has considerable success in presenting, synthesising and commenting on outcomes. There is some linkage between theory and practice.

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• a thorough knowledge of current research/scholarship in the discipline. Examples referred to indicate a breadth and depth of individual reading and investigation that extend beyond the sources provided. The referencing of literature and other sources is almost always accurate. A secure knowledge of research processes is evident along with an ability to apply research skills and knowledge in the appropriate context;

• an ability to engage in critical Assessment and reflection. Arguments are clearly considered and substantiated and there is evidence of an ability to make appropriate judgements and to suggest solutions to problems. The student also demonstrates an ability to engage in reflective practice and to take account of personal Assessments when planning for future development.

50 – 59In the work presented for assessment, students awarded grades within this band will have demonstrated a secure understanding of the set task and an ability to have met the associated learning outcomes and address the assessment criteria at a satisfactory level. Within the assessment submission the student may demonstrate:

• a sound knowledge and understanding of most key aspects of the field of study relevant to the task and there is some evidence of an ability to apply such knowledge. Although there may be a tendency to reproduce information received from elsewhere (e.g. programme materials), there is still some evidence of independent thinking. A few errors and/or misconceptions may be present, but these will not be in important areas;

• generally, demonstrates an ability to communicate information, ideas, concepts and arguments successfully. Overall, the structure and format of the work are appropriate. There may be occasional faults in the presentation of work but overall, these do not detract from the clarity of expression.

• an ability to utilise some techniques to undertake analysis and enquiry relevant to the task/discipline and generally has success in presenting and commenting on outcomes.

• a sound knowledge of current research/scholarship in the discipline and shows an ability to discuss its implications. Examples of research/scholarship referred to in the work demonstrate individual reading and investigation. Occasional errors may be present in the referencing of literature and other sources. Some knowledge of research processes is evident, and the application of research skills and knowledge is generally successful, although there may be a reliance on tutor support; at times, an ability to critically evaluate and reflect although there may be some over-reliance on the description and factual presentation. Arguments are usually substantiated. There is some evidence of the student’s ability to evaluate and reflect on her/his own practice, but reflections may lack insight and the implications for future development may be underestimated.

40 – 49In the work presented for assessment, students awarded marks within this band will have demonstrated a basic understanding of the set task and an ability to have met the associated learning outcomes and address the assessment criteria at a threshold level. Within the assessment submission the student may demonstrate:
• a basic knowledge and understanding of many aspects of the field of study relevant to the task. Reproducing information received from elsewhere (e.g. programme materials) is a frequent feature of work at this level. Errors and misconceptions will be evident but these are outweighed by the degree of knowledge and understanding demonstrated overall;

• some ability to communicate information, ideas, concepts and arguments. However, more success is achieved in describing and reporting factual information rather than communicating complex ideas. Generally, the work is appropriately structured although key points may not be logically sequenced. Although there will be faults in the presentation of work, the meaning is still clear;

• an ability to undertake some limited analysis and enquiry relevant to the task/discipline and has intermittent success in presenting, synthesising and commenting on outcomes;

• some knowledge of current research/scholarship in the discipline and demonstrates an ability to provide limited comment and/or discussion of its implications. Examples of

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research/scholarship referred to in the work may indicate an over-reliance on programme materials rather than individual reading and investigation. There are errors in the referencing of literature and other sources. Some knowledge of research processes is evident although the application of such knowledge is less secure;

• a limited ability to critically evaluate and reflect. Although some critical reflection is evident, the balance within the work is likely to be in favour of description and factual presentation. Arguments are generally substantiated but may be under-developed. There is some evidence of the student’s ability to evaluate and reflect on her/his own practice although reflections may be limited and superficial with little consideration of their relevance for future development.

30 – 39The work presented for assessment is unsatisfactory overall. At the top end of the band, the standard of work might best be described as a ‘narrow fail’. Students awarded marks within this band will have demonstrated a partial understanding of the set task and an ability to have met some of the associated learning outcomes at a basic level. However, attainment is uneven with some learning outcomes not met and some assessment criteria unaddressed. Within the assessment submission the student may demonstrate:

• limited knowledge and understanding of the field of study relevant to the task. Factual inaccuracies, errors and misconceptions are evident in important areas and elements of the assessed work may be irrelevant to the task;

• an ability to communicate some simple concepts and/or factual information. However, faults in the presentation of work and in its structure and organisation mar the clarity of expression. If attempted, the presentation of arguments and more complex ideas may be confused and clumsily expressed;

• is likely to have attempted some enquiry and analysis relevant to the task/discipline but outcomes may be naïve, simplistic and/or unconvincing;

• limited or sporadic knowledge of current research/scholarship in the discipline. A restricted range of sources are used but overall, there is an over-reliance on programme materials with little evidence of individual reading and investigation;

• There are frequent errors in the referencing of literature and other sources. Although limited knowledge of research processes may be evident, nevertheless, the application of such knowledge is largely unsuccessful;

• limited evidence of critical Assessment and reflection. The work is largely descriptive and arguments, if attempted, are rarely substantiated. Self-Assessment and reflections on her/his own practice are extremely limited.

20 – 29 The work presented for assessment is poor overall and the standard of work across the band might best be described as a ‘clear fail’. Students awarded marks within this band will have demonstrated a minimal understanding of the set task and will partially have met one or two learning outcomes. Many assessment criteria are unaddressed.
Within the assessment submission the student may demonstrate:
• little knowledge and understanding of the field of study relevant to the task. Factual inaccuracies, errors and misconceptions are evident in many important areas and these outweigh the degree of knowledge and understanding demonstrated. Substantial elements of the assessed work may be irrelevant to the task;

• little ability to communicate simple concepts and/or factual information. Frequent faults in the presentation of work and significant difficulties in its structure and organisation detract from the clarity and meaning overall. The writing style is often clumsy and inappropriate;

• little evidence of being able to undertake enquiry and analysis relevant to the task/discipline. Where such work has been attempted, outcomes may be inappropriate, or absent;

• little knowledge of current research/scholarship in the discipline. Evidence of individual reading and investigation is negligible and the limited referencing of literature and other sources is frequently inaccurate. Very limited knowledge of research processes is apparent and there is a failure to apply this knowledge;

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• little ability to describe and report but very little evidence is available to indicate an ability to engage in critical Assessment and reflection. Self-Assessment and reflections on her/his own practice are negligible or absent.

10 – 19 The work presented for assessment is best described as very poor overall. Students awarded marks within this band may have misunderstood or misinterpreted the set task and provided a short and/or largely irrelevant response. Consequently, no learning outcomes are met in full although there may be minimal attainment in relation to one or two. Assessment criteria are largely unaddressed.

1 – 9The work presented for assessment may be incomplete and/or irrelevant and demonstrates a serious lack of comprehension and/or engagement with the set task. Attainment of the learning outcomes is minimal and assessment criteria are not addressed. Characteristics of work that falls into these bands are:
• short

• irrelevant

• serious and numerous errors and misunderstandings

• no evidence of analysis, synthesis, critical Assessment and reflection no reference/minimal reference to external sources

• very poor standard of presentation and inappropriate format

• very poor communication of information and ideas

0 Zero will be awarded in cases where:

(i) no answer has been attempted;

(ii) an allegation of unfair practice has been substantiated by a Committee of Enquiry or

Examination Board (including Fixed Penalty) and the original mark awarded has been cancelled.
The award of zero in either case is:

• considered to be a fail.

• In the case of (ii) above, if the unfair practice is suspected at the marking stage, the marker(s) should award a mark as if it were the candidate’s own work. If an allegation of unfair practice is subsequently substantiated, there has to be a mark to cancel, and the Committee of Enquiry or Examination Board will need to know the magnitude of the original mark when determining the further penalty to impose.

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Further Information

Who can answer questions about my assessment?

Questions about the assessment should be directed to the staff member who has set the task/assessment brief. This will usually be the Module Leader. They will be happy to answer any queries you have.

Staff members can often provide feedback on an assignment plan but cannot review any drafts of your work prior to submission. The only exception to this rule is for Dissertation Supervisors to provide feedback on a draft of your dissertation.

Referencing and independent learning

Please ensure you reference a range of credible sources, with due attention to the academic literature in the area. The time spent on research and reading from good quality sources will be reflected in the quality of your submitted work.

Remember that what you get out of university depends on what you put in. Your teaching sessions typically represent between 10% and 30% of the time you are expected to study for your degree. A 20-credit module represents 200 hours of study time. The rest of your time should be taken up by self-directed study.

Unless stated otherwise you must use the

HARVARD referencing system. Further guidance

on referencing can be found in the Study Smart

area on Moodle and at

www.citethemrightonline.com (use your

university login details to access the site). Correct

referencing is an easy way to improve your marks

and essential in achieving higher grades on most

assessments.

Technical submission problems

It is strongly advised that you submit your work at least 24 hours before the deadline to allow time to resolve any last minute problems you might have. If you are having issues with IT or Turnitin you should contact the IT Helpdesk on (+44) 2920 417000. You may require evidence of the Helpdesk call if you are trying to demonstrate that a fault with Moodle or Turnitin was the cause of a late submission.

Extensions and mitigating circumstances

Short extensions on assessment deadlines can be requested in specific circumstances. If you are encountering particular hardship which has been affecting your studies, then you may be able to apply for mitigating circumstances. This can give the teachers on your programme more scope to adapt the assessment requirements to support your needs. Extensions and mitigating circumstances policies and procedures are regularly updated. You should refer to your degree programme or school Moodle pages for information on extensions and mitigating circumstances.

Unfair academic practice

Cardiff Met takes issues of unfair practice extremely seriously. The University has procedures and penalties for dealing with unfair academic practice. These are explained in full in the University’s Unfair Practice regulations and procedures under Volume 1, Section 8 of the Academic Handbook. The Module Leader reserves the right to interview students regarding any aspect of their work submitted for assessment.

Types of Unfair Practice, include:

Plagiarism, which can be defined as using without acknowledgement another person’s words

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or ideas and submitting them for assessment as though it were one’s own work, for instance by copying, translating from one language to another or unacknowledged paraphrasing. Further examples include:
• Use of any quotation(s) from the published or unpublished work of other persons, whether published in textbooks, articles, the Web, or in any other format, where quotations have not been clearly identified as such by being placed in quotation marks and acknowledged.
• Use of another person’s words or ideas that have been slightly changed or paraphrased to make it look different from the original.

• Summarising another person’s ideas, judgments, diagrams, figures, or computer programmes without reference to that person in the text and the source in a bibliography/reference list.

• Use of assessment writing services, essay banks and/or any other similar agencies (NB. Students are commonly being blackmailed after using essay mills).

• Use of unacknowledged material downloaded from the Internet.
• Re-use of one’s own material except as authorised by your degree programme.

Collusion, which can be defined as when work that that has been undertaken with others is submitted and passed off as solely the work of one

person. Modules will clearly identify where joint preparation and joint submission are permitted, in all other cases they are not.

Fabrication of data, making false claims to have carried out experiments, observations, interviews or other forms of data collection and analysis, or acting dishonestly in any other way.

How is my work graded?

Assessment grading is subject to thorough quality control processes. You can view a summary of these processes on the Assessment Explained Infographic.

Grading of work at each level of Cardiff Met degree courses is benchmarked against a set of general requirements set out in Volume 1, Section 4.3 of our Academic Handbook. A simplified version of these Grade Band Descriptors (GBDs) with short videos explaining some of the academic terminology used can be accessed for Foundation, 1st year, 2nd year and 3rd year undergraduate and MSc programmes.

We would strongly recommend looking at the Study Smart area of Moodle to find out more about assessments and key academic skills which can have a significant impact on your grades. Always check your work thoroughly before submission.

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