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Aim: To understand financial terminology, to develop an awareness of the key elements to good financial management. To demonstrate an ability to read and understand financial statements and to be able to assess financial performance and the viability of an entity
Participant Profile: Course is suitable for those who require a formal qualification and skills to work in a management/supervisory role.
Duration: 6 days (1 day per week) in a classroom setting. Learners will be required to complete work outside of class time.
Status: Mandatory Minor component
Credit Value: 15 Credits towards 120 credits in Management Level 6 award 6M4587
Some learning outcomes of the component include:
- Distinguish between different types of accounts
- Know the main types of accountancy bodies in the Republic of Ireland
- Explain financial terminology relating to financial statements
- Outline the main sources of regulation which govern financial reporting
- Understand the main components of a Balance Sheet and be able to analyse it
- Understand the main components of a Trading, Profit and Loss Account and be able to analyse it
- Understand the main components of a cash flow statement and be able to be able to analyse it
- Understand and be able to state the difference between profit and cash
- Use ratios to assess financial performance of an entity
- List non-financial factors which may impact on an entities financial performance
- Comment and make recommendations on liquidity, operational efficiency, profitability and return on investment
- Recognise a budgetary control system valuate and comment on budgetary data
- Analyse and evaluate cash flow projections
Learners will receive assignment briefs and guidelines on completing these assessments.
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