This core module is the first of two finance modules. It provides an understanding of the main accounting statements together with an awareness of basic accounting principles, terminology and techniques, so that participants can interpret financial reports and interpret financial information. An introduction to management accounting practices as an aid to effective operational financial planning and control is also included.
Upon successful completion participants will be able to:
- Interpret the basic business accounting statements
- Differentiate between the different methods of measuring financial performance within a business
- Critically analyse financial data to generate further information
- Provide a critical interpretation of the relationship between the operational performance of a business and the financial measures of the business
- Control of business resources.
- Financial reports.
• the balance sheet.
• assessment and reporting of profit.
• cash flow statements.
- Structured approach to ratio analysis and its interpretation
- Cash flow - its control and implications to the business.
- Profit/volume relationships and the calculation and interpretation of performance indicators, including contribution
- Costing and techniques to ascertain, recover and control costs.
- Budgetary control systems and techniques.
- Capital expenditure evaluation and financial evaluation of projects including net present value.
Online Multiple Choice test (30% weighting)
In-module Participation (20% weighting)
Post Module Assessment, 2,000 words (50% weighting)
In-module group work (30% weighting)
Post Module Assessment (70% weighting)