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Financial Analysis & Control Systems (FACS)


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.


On completion, successful participants will be capable of:

  • Building and interpreting a financial model for a business.
  • Differentiating between profit and cash and the impact on business and operational activities.
  • Planning and evaluating capital and revenue expenditure.
  • Reading and interpreting financial reports, including published accounts.
  • Applying and interpreting financial ratios to internal and external accounting information.
  • Understanding the principles and management implications of alternative costing methodologies.
  • Planning, budgetary control, accountability and responsibility for financial performance.

Web Based Learning Contents

  • Introduction to Business Finance
  • Financial statements
  • Profit vs. Cash. Control of cash flow and its implications
  • Interpretation of Accounts
  • Introduction to management accounting
  • E-Test

Taught Sessions Contents

  • Budgetary Control Systems and Techniques
  • Marginal Costing and Contribution Analysis
  • Absorption Costing
  • Activity Based Costing
  • Investment Appraisal and Financial Evaluation of Projects
  • Published Accounts