Finance for Managers

Finance for Managers

  1. Unit level: 5
  2. Unit Code: M/503/7080
  3. GLH: 60
  4. Credit value: 15
  5. Unit grading structure: Pass
  6. Assessment guidance: Assignments in accordance with awarding organisation guidance
  7. Unit Aims:
    To introduce learners to practical accounting and financial techniques that are useful to managers in business organisations.
  8. Learning Outcomes
    1. Understand the requirements and techniques for financial recording and reporting
      • Explain the purpose and requirement for keeping financial records
      • Analyse techniques for recording financial information in a business organisation
      • Analyse the legal and organisational requirements for financial reporting
      • Evaluate the usefulness of financial statements to stakeholders
    2. Understand how working capital can be effectively managed
      • Analyse components of working capital
      • Explain how business organisations can effectively manage working capital
    3. Understand management accounting techniques
      • Explain the difference between management and financial accounting
      • Explain the budgetary control process
      • Calculate and interpret variances from budget
      • Evaluate the use of different costing methods for pricing purposes
    4. Understand how to evaluate business projects
      • Demonstrate the main methods of project appraisal
      • Evaluate methods of project appraisal
      • Explain how finance might be obtained for a business project
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