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Accounting for Financial Managers 120 Hours Certificate Course

Pre-Requisite Modules: Academic Writing and Introduction to Business.

  • Module 4 of the Level 4 Diploma in Business (4 modules – 2, 3 and 4 can be done in any order.)
  • Course Code: ADL 104/5505.
  • Level 4. 
  • 12 Learning Credits.
  • Hours 120.
  • Entry requirement: GCSE maths and English (grade C or better) or equivalent

This course forms part of the Level 4 Diploma in Business, which will allow you to use the qualification you receive, to support an application for a university degree program in business. 

This course is ideal if you:

  • wish to attend university and complete a business degree, but haven't achieved the required "A" level grades. 
  • have the required "A" levels, but want to save money on tuition fees and accommodation costs, by also completing level 5 and level 6 courses currently under construction.
  • are a graduate wanting an introduction to business systems and theories.
  • have no desire to attend university and are already working in a business organisation, wanting to progress up the ladder
  • wish to pursue a career in business as soon as possible. 

 

Unit overview: To enable the learner to understand key concepts of accounting for Financial Managers

A business proprietor normally runs a business to make money. He or she needs information to know whether the business is doing well. The owner of a business might ask the following questions:

  • How much profit or loss has the business made?
  • How much money do I owe?
  • Will I have sufficient funds to meet my commitments?

The purpose of conventional business accounting is to provide the answers to such questions by presenting a summary of the transactions of the business in a standard form.


 

Learning Outcomes:
  1. The learner will: understand the nature of financial accounting and the principles of double entry book-keeping.
  2. The learner will: Know how to prepare a set of final accounts for a sole trader and a limited company.
  3. The learner will: Know how to calculate and interpret accounting ratios for profitability and liquidity.
  4. The learner will: Understand the principles of costing for materials, labour and overheads.
  5. The learner will: Understand the way costing principles can be used in short term decision making.
  6. The learner will: Understand the principles of budgeting and budgetary control.

 

Module Structure:

1. Understand the nature of financial accounting and the principles of double entry book-keeping.

  • Define financial and management accounting and identify the essential differences.
  • Define stakeholders and identify the information required by each from a business.
  • Define the requirements of IAS 1 and the different financial statements required.
  • Explain the financial statements and show the relationship between the parts (double entry book-keeping, trial balance, trading account, statement of consolidated income, statement of financial position and cash flow.)
  • Understand the concept of double entry.
  • Be able to make the relevant entries into book of accounts for simple transactions.
  • Understand the use and purpose of the day book.
  • Accurately reflect entries and adjustments in two or three column cash books.
  • Understand the purpose of and make appropriate entries into control accounts.
  • Prepare a trial balance that accurately reflects any book-keeping adjustments.
  • Explain and understand the purpose and use of a suspense account.
  • Accurately enter relevant entries in the cash book.
  • Prepare the book of accounts accurately from entries in the cash book.
  • Prepare bank reconciliation using bank statements and required adjustments.

2. Know how to prepare a set of final accounts for a sole trader and a limited company.

  • Explain for differences between a sole trader, a partnership and a limited company.
  • Preparation (with relevant and appropriate adjustments) of a trading account and profit & loss account (Statement of Comprehensive Income) and a balance sheet (Statement of Financial Position) according to cGAAP.
  • Outline and describe the requirements for a cash flow statement.
  • Describe the use of a cash flow statement.
  • Prepare a cash flow statement using either the direct (cash) or the indirect (accruals) method.
  • Explain for differences between a sole trader, a partnership and a limited company.
  • Preparation (with relevant and appropriate adjustments) of a trading account and profit & loss account (Statement of Comprehensive Income) and a balance sheet (Statement of Financial Position) according to cGAAP.
  • Outline and describe the requirements for a cash flow statement.
  • Describe the use of a cash flow statement.
  • Prepare a cash flow statement using either the direct (cash) or the indirect (accruals) method.

3. Know how to calculate and interpret accounting ratios for profitability and liquidity.

  • Understand the use of ratios to compare different sets of results.
  • Using ratios to compare one business from year to year.
  • Using ratios to compare business within the same industry.
  • Understand the limitations of ratios.
  • Define and calculate basic profitability ratios (e.g. gross profit and net profit ratios.)
  • Define and calculate basic liquidity ratios (e.g. current ratio and acid test ratio.)
  • Define and calculate liquidity ratios (e.g. creditor and debtor days, stock turnover days.)
  • Describe and explain accurately the results and implications of any ratio calculation.

4. Understand the principles of costing for materials, labour and overheads.

  • Describe and explain the nature, purpose and objectives of cost and management accounting.
  • Define basic accounting terms; direct and indirect cost; overhead costs.
  • Calculate material costs using FIFO, LIFO and Average cost
  • Calculate labour costs given a range of figures on wage and payroll rates and labour hours.
  • Understand and explain overheads.
  • Calculate overheads and overhead cost for a given level of output.
  • Calculate total cost for a given level of output.
  • Calculate the overhead included in a cost for a given output.
  • Calculate the difference between actual and planned overhead.
  • Define over and under absorption.
  • Understand the effect on profitability of under or over absorption of overhead.

5. Understand the way costing principles can be used in short term decision making.

  • Define basic accounting terms: fixed and variable costs.
  • Understand the result of stepped and semi variable costs.
  • Explain and describe the use and outcome of stepped and semi variable costs.
  • Define the basic accounting term; contribution.
  • Calculate contribution for a single unit.
  • Calculate total contribution for a given level of output.
  • Explain the uses of contribution costing and overhead absorption costing.
  • Define basic accounting terms: break even, break-even point, limiting factor, margin of safety.
  • Calculate break-even point.
  • Plot break-even graphs.
  • Calculate margin of safety for a given level of output.

6. Understand the principles of budgeting and budgetary control.

  • Define basic accounting terms: budget, budgetary control, revenue.
  • Calculate costs at different levels of output.
  • Prepare basic budgets for different output levels using costs and overheads given.
  • Define basic accounting terms: variance; cashflow; working capital.
  • Calculate actual and budget costs for given levels of output 3. Prepare tables showing actual, budgeted costs and variances.
  • Calculate variances.
  • Understand the effect on cash and profitability of negative or positive variances.
  • Basic understanding of the effect of working capital.

 

Your learning experience with ADL will not only depend on the quality of the course, but also the expertise of the person teaching it. This course has been written by Michael Booth and your course fee includes unlimited tutorial support from him throughout your studies with us. Here are Michael’s credentials:


 Michael Booth course tutor

Michael Booth – Course Writer and Tutor
 

B.Sc (Hons) Chemical Engineering, (University of Leeds), MSc with Merit Computer Science, (University of Kent), Executive Associate, Institute of Independent Business International

Michael has over 20 years experience in industry with a diverse academic background incorporating executive management, chemical engineering, and computer science. Michael has an international background and has worked as a technical director, production manager, and operations manager throughout companies across the world. He recently completed his MSc in Computer Science from the University of Kent, and is an executive associate of the Institute of the Independent Business International.


 

Course Info
How Do Our Tuition Fees Compare?Full time classroom based Further Education Courses - Approx. £5,000 per year - Part-time classroom based Adult Education Courses - Approx. £7.00 per hour - N.B. classroom tuition means you learn at the pace of the class. One-to-one private tuition - from £15.00 per hour - ADL one-to-one tution fees - From £340 per 100 Hour Course = Average of £3.40 per hour - N.B. one-to-one tuition is tailored to your own individual learning availability and pace.
Course StartBegin your learning at any time.
Course Prerequisite G.C.S.E in English and Maths, or equivelent. N.B. Our course levels are an indication of the depth of learning you should receive. They do not describe the level of difficulty.
Course Qualification (Study Option A)Endorsed Qualification from TQUK - Training Qualifications UK, an Ofqual Approved Awarding Organisation - Completed written assignments and final evaluation per course/module to be taken.
Course Qualification (Study Option B)Certificate of Attainment from ADL - Completed written assignments only - no final evaluation.
Comparative Credits InformationUK Course Credits: 12 - U.S. Credit Hours: 4 - when compared to regulated courses.
Course Duration and DeadlinesCourse hours given are a guide only. You will be encouraged to work at your own pace to learn as much as you can, with no assignment deadlines or end date by which you must complete your course by. You are in control!
Study SupportPersonal tutor/mentor support from industry relevant professionals throughout your whole course. Mentors are contactable by e-mail, telephone and through the Moodle online classroom. They provide assistance with your course material, plus discuss, explain and give advice when needed. They will also mark and grade your assignments, plus provide constructive and helpful feedback vital to your success.
Suitability for Self Employment and Small BusinessesOur courses are ideal for sole traders and small business owners and their staff. Customer confidence in what you can do will determine how successful you are in getting clients. Doing the job right using the correct knowledge and skills, leads to repeat business and referrals to friends, family and work colleagues. Completing one or more of our courses for the service you have to offer, will give you the tools to achieve this and grow your business.
Recognition of Your Course By EmployersWe aim to achieve the correct balance between your qualification being recognised and providing you with the in-depth learning, to empower you to succeed. If you can demonstrate that you have the level of knowledge and transferable skills necessary to an employer, you should stand out from someone who has only received a superficial understanding of what's required - Select study option A when enrolling, so an employer can check the status of the awarding organisation for your qualification on the Ofqual Register.
Recognition of Your Course By UniversitiesAs you will see on our Testimonials page, previous students have used their qualification from us to get into university. However each one will have its own entrance criteria and acceptance may also depend on your other qualifications and experience. We can approach up to three universities on your behalf with details of our course before you enrol, so you will know whether it will be accepted as part of their application process. Please complete our contact form and we will begin the process.
Designing Your Own Qualification
How Can I Enrol?Online by selecting your study option, learning materials, plus payment option and then clicking the Enrol Now button - By contacting us for an application form - By telephoning us on 01227 789 649 (International: 0044 1227 789 649). Lines open 9am till 5pm Monday to Friday, excluding Bank Holidays and between Christmas and New Year.
How Can I Get a Pro-forma Invoice for my Employer?Contact us with details and we will email your employer an invoice. We will need: employer's name, address, telephone number, email address and contact name. We will also require your name, telephone number, email address, date of birth and the course and code you wish to enrol for.
Accounting for Financial Managers 120 Hours Certificate Course

Disciplines:

Business Management & Accounting Courses Online  Levels Courses Online  Professional Development Courses Online  Certificate Courses Courses Online 

Accounting for Financial Managers 120 Hours Certificate Course

Price: £435.00Course Code: ADL104/5505
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Previous Customer Experiences with our CoursesWoman leaping to the next level in her career development

"Fantastic Teacher. Well organised modules. Assignments force me to learn and research more so I can prepare well for exams. I really enjoyed studying via ADL.  I can now continue study at Ulster University which accept my certificate from ADL".    Level 4,  Advanced Certificate in Applied Science,  VSC001,  Stanislawa,  Poland.

Its with great pleasure I am announcing you my new job as 'Park Manager' for a 5 star hotel in Reunion Island.  Its definitely my courses with ADL (Botany, Agronomy and Trees for Rehabilitation) which were decisive for my nomination. Accordingly, my sincere thanks goes to all the ADL team.

"The course was a valuable learning experience as it provided me with the knowledge and understanding for me as a Careers Advisor. The feedback was very good from my tutor, and allowed me to  build upon my assignments that were marked. The comments were very informative  and very useful. Well written course material."  Andrew W, Careers  Counselling, UK

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Disclaimer: Every attempt is made to ensure all information from the academy is accurate and that the student has attained the competencies taught in a course, at the point of their assessment. Beyond this point, the graduate is responsible to maintain their acquired competencies, and apply acquired knowledge and skills in a way which is appropriate to the unique characteristics of each application. This will release the academy from any liability, action and claims of whatsoever nature in connection with, or arising from any such information, instruction or advice, given by any student or ex-student, whether directions given during the course are followed or not.