ITEC Diploma in Business Competence Finance and Law
Course Description
The ITEC Diploma in Business Competence is designed for people in business, those starting up and key personnel dealing the financial aspects of a business performance. This course will enable you work with your bookkeeper or accountant, to understand the business accounts and to take the mystery out of the accounting process.
Who Should Attend?
Directors, partners, owner managers and key employees dealing with the financial aspects of business performance. Discounts available for boards of directors.
Duration
8 week evening class / one dya per week for five weeks
Course Objectives
· Read and understand annual financial statements (balance sheet, profit and loss account) in principle and draw first conclusions.
· Explain the most relevant terms found in annual financial statements.
· Understand and explain the most important performance objectives of a company.
· Explain and calculate performance ratios corresponding to those objectives.
· Explain the most important objectives, tasks and key terminology of cost accounting.
· Explain the general factors for entrepreneurial decisions (markets, customers, competition, cost of sales).
· Explain the significance of the contribution margin as a central term in cost accounting, and compute it.
· Explain the objectives and basic structure of cost accounting and profit centre accounting, and give reasons why cost awareness and entrepreneurial thinking are necessary.
· Explain the characteristics, advantages and disadvantages of the principle legal forms of business organisation
· List the legal requirements for setting up and running a company
· Explain the principle legal restrictions on operating a business in the UK
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Course Overview
· Module 1 - An Introduction to Business Law
· Module 2 - Understanding Business Accounts
· Module 3 - Measuring Business Performance
· Module 4 - Costing and Pricing
Additional Information
Participants are requested to bring with their own business accounts. If this is not possible, sample business accounts/ case studies will be provided.
