Highlights
Task:
Knowledge and Understanding
This unit is designed to provide students with an understanding of:
• The business context and its impact and relationship to financial information andpractice
• General Purpose Financial Statements (GPFS); including key accounting concepts, terminology and disclosure practices
• Financial analysis techniques and their application to interpreting financial information on GPFS
• Approaches for analysing costs and examining cost behaviour, and how this applies to effective cost management, including budgeting
• Principles and techniques for adopting a structured approach to making capital expenditure (investment) decisions
• Principles of business financing and its organisational impact
Learning Outcomes
Following completion of this course, participants should be able to:
1. Describe and evaluate the business financial context, including business structures, financial stakeholders and information, and the accounting profession and financial governance.
2. Interpret and critically analyse the information contained on financial statements.
3. Demonstrate the use of costing concepts and principles to improve decision making.
4. Develop and manage budgets and associated financial resources to support business objectives.
5. Demonstrate appropriate financial methodologies to evaluate and make decisions in relation to Investment options.
6. Understand the impact and cost of financing decisions and identify sources of financing.
7. Critically consider the potential impact of contemporary business context on financial information.
8. Demonstrate a high order of skill in analysis, critical thinking, communication and professional application.
9. Demonstrate creativity and flexibility in the application of knowledge and skills to new situations, to resolve problems and to think rigorously and independently.
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