Level 3 Certificate In Finance For Non-financial Managers

Introduction

The overall aim of this qualification is to accredit candidates' knowledge and understanding of the fundamental principles of financial management. Within the qualification candidates have the opportunity to gain knowledge of the nature of accounting, accountability and stewardship within a business environment and the analysis and interpretation of financial statements. Candidates will also gain an appreciation of the methods and importance of planning, informed decision-¬making and control within business through studying working capital maintenance, sources of funding, cost behaviour and investment appraisal.

The qualification is specifically designed as an introduction to financial management for non¬-specialists and therefore emphasis will be placed on analysing and explaining numerical calculations rather than book-keeping entries within the accounting records. However, candidates will be expected to show a high degree of accuracy in their work.

This is a stand¬alone qualification which is not specifically linked to any other qualification; however it may be used to supplement other book¬keeping, accounting and management qualifications where candidates require an overview of financial management. It may also be useful for candidates studying non¬financial degrees and other courses where some knowledge of financial management is required.

To be awarded the qualification, candidates are required to successfully demonstrate their competence by means of an external examination.

Certification

All candidates who achieve a Pass grade will receive a formal Results Letter and may apply for a Certificate in Finance for Non¬Financial Managers.

IAB Level 3 - Finance for Non Financial Managers
Aim of the Unit
• Understand the nature of accounting, accountability and stewardship within a business environment
• Understand how financial statements can be analysed and interpreted to judge the performance of a business
• Understand the importance of working capital maintenance
• Identify and assess different sources of funding available for business
• Understand and distinguish between costs based on their behaviour
• Understand and use cost behaviour for decision making
• Understand and make appropriate pricing decisions for business
• Assess the viability of a project using investment appraisal techniques

IAB Level 3 - Finance for Non Financial Managers

Aim of the Unit

• Understand the nature of accounting, accountability and stewardship within a business environment
• Understand how financial statements can be analysed and interpreted to judge the performance of a business
• Understand the importance of working capital maintenance
• Identify and assess different sources of funding available for business
• Understand and distinguish between costs based on their behaviour
• Understand and use cost behaviour for decision making
• Understand and make appropriate pricing decisions for business
• Assess the viability of a project using investment appraisal techniques