Finance for Managers
- Unit level: 5
- Unit Code: M/503/7080
- GLH: 60
- Credit value: 15
- Unit grading structure: Pass
- Assessment guidance: Assignments in accordance with awarding organisation guidance
- Unit Aims:
To introduce learners to practical accounting and financial techniques that are useful to managers in business organisations.
- Learning Outcomes
- 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
- Understand how working capital can be effectively managed
- Analyse components of working capital
- Explain how business organisations can effectively manage working capital
- 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
- 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