Fundamentals of Business Economics 2011

Learn the fundamentals of business economics with this course and you could be on your way to completing the CIMA Certificate in Business Accounting, a valuable addition to any CV and entry requirement for the highly regarded CIMA Professional Chartered Management Accounting qualification.

Complete the CIMA Certificate in Business Accounting

Together with four others (C01 – C05), the C04 Fundamentals of Business Economics module makes up the CIMA Certificate in Business Accounting, which is the pre-requisite CIMA qualification that a student needs before continuing on to a chartered management accounting course. Completion of this course marks another step along the journey towards becoming a chartered management accountant. Split into four different modules, to ensure students aren’t dealing with an unmanageable stack of information at once, the course should take approximately 20 study hours to complete and is available online, upon registration.

The Economics of Business

As a trainee management accountant, it’s important to understand the fundamentals of business economics. With this course you will learn about the macroeconomic context of organisations (25%), the goals and decisions of an organisation (25%), the market system and the competitive process (25%) and the financial system (25%). Being an accountant means more than simply crunching numbers and producing reports; if you want to get ahead and really impress any prospective employers, having an understanding of economics, as well as management, ethics and the other various business aspects of accounting, will mean that you will have a better chance of beating the competition and excelling in your chosen field.

Key Learning Points

To complete this part of the CIMA Certificate in Business Accounting you will need to understand the fundamentals of business economics and how they are applied to management accounting.

• Explain the macroeconomic phenomena, including price inflation, the equilibrium and growth in national income, unemployment and trade deficits/surpluses.
• Understand the various stages of the trade cycle and the impact that it has on the economy and individual organisations.
• Gain insight into the principles of public finance, including the various aspects of taxation and financial deficit.
• Learn about the snippets of the national policy which are relevant to trade.
• Explore the concept of globalisation and the consequences that it can have on businesses and organisations. Apply this knowledge to your work with prospective employers.
• Understand the differences in goals set by profit-seeking organisations, NPOs and governmental organisations.
• Learn how shareholder wealth and stakeholders can impact on the goals of a business.
• Demonstrate and calculate the point of profit maximisation using total cost and total revenue data.
• Explore the concept of price elasticity of supply and demand and the effects that they can have on an organisation’s revenue.
• Learn how price regulation can impact goods and factor markets and the impact of competition on price, output and profitability.
• Explore the concepts of liquidity, the foreign exchange market, the role of financial intermediaries and how supranational organisations can help to stabilise the market and encourage economic growth.

advantages of this course

• Pursue your dreams of becoming a professional chartered management accountant with this pre-requisite course.
• Get one of the five parts CIMA Certificate in Business Accounting in the bag with this online Fundamentals of Business Economics course.
• Learn about the fundamental economic aspects that can influence your career, and benefit from a well-rounded knowledge base that can be applied in real life too.
• Study with a range of materials and resources to suit your individual learning preferences, including manuals, tutorials, end-of-unit assessments and interactive simulations.
• Improve your marketability and impress future employers with a dazzling CV!

Book your place on this course today to begin your journey towards valuable accounting qualifications – every step will get you closer to achieving your career goals.

• Units of study

• The Goals Of Organisations
• The Theory of Costs
• Shareholder Wealth
• Non-For-Profit Organisations and Corporate Goverance
• Price Determination
• Demand
• Supply
• The Growth of Organisations
• Price and Output Determination
• Market Failure
• Financial Needs in the Economy
• The Financial System
• The Foreign Exchange Market
• Management of the Financial System
• National Income and the Circular Flow Model
• The Trade Cycle-Inflation and Unemployment
• International Trade
• The Balance of Payments
• Economic Growth and the Global Economy
• Assessment