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Business Finance Professional

Overview

Business Finance Professional Course

Business Finance deals with the raising and managing of funds. Irrespective of the organisation's size, at some point in time, management will need to address the issues raised when attempting to secure funds for the organisation.

Fund management activities require financial forecasting. This forecasting allows the organisation to develop long term strategic plans for the organisation. Short-term budgets can then devised to meet the organisation's strategic goals.

This course is suitable for anybody who is interested in the financial aspects of an organisation and covers a broad range of relevant financial and managerial issues.

Unit 1 - Cost and Management Accounting

In this unit, you review the important role played by management accounting in the business world, for example, helping management in decision-making, policy formulation and the achievement of objectives. We contrast historical costing with predetermined costing and look at how costs are classified. This unit provides you with a brief introduction to cost and management accounting with particular attention being paid to absorption costing and marginal costing.

By the end of this unit you will have:

  • Explored costs and historical costs.
  • Investigated the methods employed by management to control costs.
  • Discussed the principles of marginal costing.
  • Defined the marginal cost equation.
  • Described the uses and limitations of break-even analysis.

Unit 2 - Budgetary Control

Budgetary control is a technique that is essential to the success and survival of any organisation, large or small. In this unit, we illustrate the principles, and what is considered to be good practice. We then consider the benefits of budgeting and follow with a concise appraisal of the rules for effective budgeting. We also produce budgeted profit and loss accounts and budgeted balance sheets, which, together with the cash budget, make up what many companies call the master budget.

By the end of this unit you will have:

  • Introduced the household budget.
  • Explored the benefits of budgeting.
  • Identified the rules for budgeting and budgetary control.
  • Examined cash budgets.
  • Discussed the behavioural implications of budgets.

Unit 3 - Introduction to Accounting

In this unit, we begin by looking at the background to accounting. We identify different types of business and organisations, and how accounting can serve their needs. We clarify the different areas of financial accounting, management or managerial accounting, and financial management. We consider the basic concepts, conventions and policies adopted when preparing financial statements. We explore the vital differences between profit, profitability and cash flow.

By the end of this unit you will have:

  • Introduced the accounting concept.
  • Explored the differences between financial and managerial accounting.
  • Identified the characteristics of accounting information.
  • Investigated the relationship between profit, profitability and cash.
  • Examined the fundamental accounting conventions and concepts.
  • Described the capital structure of a limited liability company.

Unit 4 - Working Capital Management

In this unit we look at the structure of working capital, the role of working capital management within corporate financial objectives. The significance of the production cycle and the financing cycle and their roles in the working capital cycle are investigated. We look critically at the traditional accounting approach to working capital management and specifically the concepts of solvency and liquidity.

For a more detailed syllabus on this course, click here

Modules

Assessment Method

After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.

What's Included

  • All study materials
  • Study Guide
  • Full Tutor and Admin support
  • The course fee includes the awarding body registration and certification fee (valued at up to £30.00).

What is NCFE

NCFE is the UK's longest established awarding body, recognised as a highly professional and responsive organisation, committed to maintaining excellent customer service and a friendly approach.

NCFE is recognised as an awarding body by the qualification regulators ('regulators') for England, Wales and Northern Ireland. The regulators are the Office of the Qualifications and Examinations Regulator (Ofqual) in England, the Department for Children, Education, Lifelong Learning and Skills (DCELLS) in Wales and the Council for Curriculum, Examinations and Assessment (CCEA) in Northern Ireland.

Accreditation by NCFE is a guarantee of quality. It means that the college has been inspected and approved by an independent and experienced education professional and is quality audited biannually by NCFE. The centre delivering the programmes has been licensed by NCFE on the basis of its own quality systems. At the end of an accredited course, successful learners will also receive an NCFE Award certificate of achievement.

For more information on this award, click here

Requirements

There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds.

Certification

At the end of this course successful learners will receive a Certificate of Achievement from ABC Awards and Certa Awards and a Learner Unit Summary (which lists the components the learner has completed as part of the course).

Level 3 Business Finance Professional Certificate of Achievement

The course has been endorsed under the ABC Awards and Certa Awards Quality Licence Scheme. This means that learndirect has undergone an external quality check to ensure that the organisation and the courses it offers, meet defined quality criteria. The completion of this course alone does not lead to a regulated qualification* but may be used as evidence of knowledge and skills gained. The Learner Unit Summary may be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this subject. To this end the learning outcomes of the course have been benchmarked at Level 3 against level descriptors published by Ofqual, to indicate the depth of study and level of demand/complexity involved in successful completion by the learner.

The course itself has been designed by learndirect to meet specific learners’ and/or employers’ requirements which cannot be satisfied through current regulated qualifications. ABC Awards & Certa Awards endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met. A review of courses is carried out as part of the endorsement process.

*Regulated qualification refers to those qualifications that are regulated by Ofqual / CCEA / Qualification Wales

To view a sample of the ABC Certificate of Achievement, please click here.

Business Finance Professional Course

Business Finance deals with the raising and managing of funds. Irrespective of the organisation's size, at some point in time, management will need to address the issues raised when attempting to secure funds for the organisation.

Fund management activities require financial forecasting. This forecasting allows the organisation to develop long term strategic plans for the organisation. Short-term budgets can then devised to meet the organisation's strategic goals.

This course is suitable for anybody who is interested in the financial aspects of an organisation and covers a broad range of relevant financial and managerial issues.

Unit 1 - Cost and Management Accounting

In this unit, you review the important role played by management accounting in the business world, for example, helping management in decision-making, policy formulation and the achievement of objectives. We contrast historical costing with predetermined costing and look at how costs are classified. This unit provides you with a brief introduction to cost and management accounting with particular attention being paid to absorption costing and marginal costing.

By the end of this unit you will have:

  • Explored costs and historical costs.
  • Investigated the methods employed by management to control costs.
  • Discussed the principles of marginal costing.
  • Defined the marginal cost equation.
  • Described the uses and limitations of break-even analysis.

Unit 2 - Budgetary Control

Budgetary control is a technique that is essential to the success and survival of any organisation, large or small. In this unit, we illustrate the principles, and what is considered to be good practice. We then consider the benefits of budgeting and follow with a concise appraisal of the rules for effective budgeting. We also produce budgeted profit and loss accounts and budgeted balance sheets, which, together with the cash budget, make up what many companies call the master budget.

By the end of this unit you will have:

  • Introduced the household budget.
  • Explored the benefits of budgeting.
  • Identified the rules for budgeting and budgetary control.
  • Examined cash budgets.
  • Discussed the behavioural implications of budgets.

Unit 3 - Introduction to Accounting

In this unit, we begin by looking at the background to accounting. We identify different types of business and organisations, and how accounting can serve their needs. We clarify the different areas of financial accounting, management or managerial accounting, and financial management. We consider the basic concepts, conventions and policies adopted when preparing financial statements. We explore the vital differences between profit, profitability and cash flow.

By the end of this unit you will have:

  • Introduced the accounting concept.
  • Explored the differences between financial and managerial accounting.
  • Identified the characteristics of accounting information.
  • Investigated the relationship between profit, profitability and cash.
  • Examined the fundamental accounting conventions and concepts.
  • Described the capital structure of a limited liability company.

Unit 4 - Working Capital Management

In this unit we look at the structure of working capital, the role of working capital management within corporate financial objectives. The significance of the production cycle and the financing cycle and their roles in the working capital cycle are investigated. We look critically at the traditional accounting approach to working capital management and specifically the concepts of solvency and liquidity.

For a more detailed syllabus on this course, click here

Modules

Assessment Method

After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.

What's Included

  • All study materials
  • Study Guide
  • Full Tutor and Admin support
  • The course fee includes the awarding body registration and certification fee (valued at up to £30.00).

What is NCFE

NCFE is the UK's longest established awarding body, recognised as a highly professional and responsive organisation, committed to maintaining excellent customer service and a friendly approach.

NCFE is recognised as an awarding body by the qualification regulators ('regulators') for England, Wales and Northern Ireland. The regulators are the Office of the Qualifications and Examinations Regulator (Ofqual) in England, the Department for Children, Education, Lifelong Learning and Skills (DCELLS) in Wales and the Council for Curriculum, Examinations and Assessment (CCEA) in Northern Ireland.

Accreditation by NCFE is a guarantee of quality. It means that the college has been inspected and approved by an independent and experienced education professional and is quality audited biannually by NCFE. The centre delivering the programmes has been licensed by NCFE on the basis of its own quality systems. At the end of an accredited course, successful learners will also receive an NCFE Award certificate of achievement.

For more information on this award, click here

Requirements

There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds.

Certification

At the end of this course successful learners will receive a Certificate of Achievement from ABC Awards and Certa Awards and a Learner Unit Summary (which lists the components the learner has completed as part of the course).

Level 3 Business Finance Professional Certificate of Achievement

The course has been endorsed under the ABC Awards and Certa Awards Quality Licence Scheme. This means that learndirect has undergone an external quality check to ensure that the organisation and the courses it offers, meet defined quality criteria. The completion of this course alone does not lead to a regulated qualification* but may be used as evidence of knowledge and skills gained. The Learner Unit Summary may be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this subject. To this end the learning outcomes of the course have been benchmarked at Level 3 against level descriptors published by Ofqual, to indicate the depth of study and level of demand/complexity involved in successful completion by the learner.

The course itself has been designed by learndirect to meet specific learners’ and/or employers’ requirements which cannot be satisfied through current regulated qualifications. ABC Awards & Certa Awards endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met. A review of courses is carried out as part of the endorsement process.

*Regulated qualification refers to those qualifications that are regulated by Ofqual / CCEA / Qualification Wales

To view a sample of the ABC Certificate of Achievement, please click here.

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