Module 1.1: Overview of Finance and Related Disciplines [4 HRS]

This unit presents the overview of finance and its related fields of accounting and economics. It also presents the relevance of the different fields to the ICT industry and the Telecommunication regulator in particular.

Chapter Learning Objectives
The Learning Objectives of the Chapter are:

• Explain to the learner on what finance is all about and how it relates to the financial system.
• Describe the differences between and main focus, and scope of finance, accounting, and economics
• Explain the implications of the decision-making and control process required in a regulated industry.

Chapter Learning Outcomes
A learner that completes this chapter should be able to draw the differences and relationship between the three fields (finance, economics and accounting), and explain main scope and the focus of finance as it relates to other disciplines and the ICT industry. The learner should also be able to distinguish different cost concepts and approaches as used in accounting, finance and economics.

Chapter Coverage
The chapter will be covered in three sessions, totalling four hours.
Session 1: Differences between Accounting, Finance, and Economics [1 hr]
Session 2: Relevance of finance to the ICT sector [1 hrs]
Session 3: Basic Accounting, Finance and Economic Concepts and Approaches [2 hrs]