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:
QU007216
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

Understand the purpose of a various accountancy forms.

Include Statement of Financial Position and Income Statements

Assessment Criteria

  • 3.1

    Accurately draw up a neat profit and loss account, 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 balance sheet including figures from the P&L account.

    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.