Finance and Accounts

This unit is expiring
The expiry date of this unit is 31/07/2026.

Overview

Framework:
Access to HE
Level:
Level 3
Unit No:
QU029924
Credits:
6
Guided learning hours:
Not available

Qualification Grading Type

Graded

Grade Descriptors

  • GD2-Application of knowledge
  • GD3-Application of skills
  • GD7-Quality

Unit Learning Outcomes

1

Understand the various sources of finance available to businesses.

Assessment Criteria

  • 1.1
    Analyse the suitability of various forms of finance in different situations.
2

Understand the need for financial control in a business and from source material produce a cash flow forecast.

Assessment Criteria

  • 2.1
    Complete a cash flow forecast and use it to analyse the financial situation of the organisation.
  • 2.2
    Set up a spreadsheet in the form of a cash flow forecast and perform simple calculations with correct formulae.
3

Be able to prepare financial statements.

Include Statement of Financial Position and Income Statements

Assessment Criteria

  • 3.1

    Accurately draw up an income statement, and justify the function of each part.

    NB Profit and Loss Accounts are now more commonly referred to as Income Statements

  • 3.2

    Produce an accurate Statement of Financial Position including figures from the Income Statement.

    NB Profit and Loss Accounts are now more commonly referred to as Income Statements. Balance sheets are now more commonly referred to as Statements of Financial Position.

4

Understand how businesses interpret final accounts.

Assessment Criteria

  • 4.1
    Use ratios to analyse the final accounts of a case study organisation, employing profitability and liquidity and gearing ratios.