This core module addresses the financial management of projects and companies. 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. It gives an introduction to management accounting practices as an aid to effective project and operational financial planning and control.
On completion, the participant will be capable of:
- Building and interpreting a financial model for a business, programme or project.
- Differentiating between profit and cash and the impact on business and project/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.
- Introduction to Project and Business Finance
- Financial statements
- Profit vs. Cash. Control of cash flow and its implications
- Interpretation of Project Accounts
- Budgetary Control Systems and Techniques
- Costing Techniques to ascertain, recover and control costs
- Marginal Costing and Contribution Analysis
- Absorption and Activity Based Costing
- Capital Expenditure Evaluation and Financial Evaluation of Projects
- Interpretation of Annual Report and Accounts for Businesses and Major Projects
Method of Assessment
20% In-Module, 80% Post Module Assignment