On completion of this course you will receive two qualifications:

Qualification 1: Business Finance Diploma issued by Stonebridge Associated Colleges, entitling you to use the letters SAC. Dip. (Business Finance)

Qualification 2: ASET Level 3 Business Finance Award

The Award has been designed by the learning provider to meet specific learners' or employers' requirements and as such is not listed as a qualification on NQF. While the duration, content or assessment may vary from similar national qualifications, in accrediting the programme at level 3, ASET attests that its learning outcomes are at an equivalent level to a level 3 national qualification.

ASET is a recognised National Awarding Body.

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.

Course synopsis

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.

By the end of this unit you will have:

• Introduced the objectives of working capital management.
• Explored liquidity and accounting profitability.
• Examined the working capital cycle.
• Investigated working capital management in the real world.
• Introduced the concepts of credit management.