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Human Resource Practices, Customer Service, Personnel Skills, Executive Office Skills, Customer Relations, Business Planning, Business Management, business finance, Bookkeeping, start your own business

Business Finance – Level 2 -

£395.00

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Business Finance – Level 2

£395.00

This course is designed for people who wish to gain an understanding of principles and practice of Business Finance. It is ideal and in some cases essential for those wishing to start up a new business or simply gain a better understanding of the sometimes hidden pitfalls that can be the difference between business success and failure.

Statistics prove that more than 60% of new businesses fail in the first three years. Lack of financial understanding and poor financial recording and bookkeeping are among the top three reasons why these businesses fail. 

Interest Free Payment Plan for this course consists of an initial payment of £155.00 followed by 6 monthly payments of £40.00. To take advantage of this payment method, use the down arrow to select “Payment Plan” before adding to basket.

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Business Finance

Working out how much profit you can make on a product or service often paints a pretty picture, but understanding cash flow and costs we hadn’t even thought about provides us with a much bigger picture and allows us to forecast profits and growth accurately based on actual turnover, purchases and costs.

Creating professional budgets, reports and cash flow statements are essential, not only in the beginning, but as the business grows. Banks and business investors or lenders need to see you understand and are running the financial side of the business correctly. A business plan or set of accounts are essential but the key to obtaining investment is you, your knowledge and commitment. This is where the Business Finance course comes in to play.

No prior knowledge is required as the course is designed for beginners.

This business finance course is also ideal for those wishing to improve their CV’s or simply for CPD purposes. For CPD this course qualifies for 60 hours ongoing development.

Objectives

The objectives of the course are to:

  • Define the need for keeping books
  • Describe common bookkeeping methods
  • Understand credit control techniques and methods
  • Devise debt recovery procedures
  • Understand costing and pricing models and methods
  • Conduct break even analyses
  • Prepare a trading budget
  • Manage cash and cashflow
  • Compose basic financial reports

Study Method

The course is designed for study by distance learning at work or at home. Students receive course manual, assignments and study guide plus tutor support by mail and email. You can start at any time and plan your studies over a period of up to one year from the time of enrolment.

Assessment

Each element is followed by a written assignment, which is submitted and marked by your tutor. There is no external examination required.

Course Accreditation

At the end of this course successful learners will receive a Certificate of Achievement by ABC Awards and a Learner Unit Summary (which lists the details all of the units you have completed as part of your course).

The course has been endorsed under the ABC Awards’ Quality Licence Scheme.  This means that Kendal Publishing Ltd has undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria.  The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future.  The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector.  To this end the learning outcomes of the course have been benchmarked at Level 2 against level descriptors published by Ofqual, to indicate the depth of study and level of difficulty involved in successful completion by the learner.

The course itself has been designed by Kendal Publishing Ltd to meet specific learners’ or employers’ requirements.   ABC Awards’ endorsement involves a robust and rigorous quality audit by external inspectors to ensure quality is consistently met.  A regular review of courses is carried out as part of the endorsement process.

ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government.

Enrolling on this course entitles you to apply for an NUS Extra card.

Course Duration

Students may register at any time and have a full year to complete their studies. The course will take around 60 hours of active study to complete.

Pack/Course Contents

Your study pack is dispatched in full at the time of enrolment and provides all you need to complete your studies:

  • Study guide
  • Comprehensive study notes for each element of the course
  • Self-assessment activities
  • Assignments
  • Tutor support
  • Assignment marking & feedback
  • Certification

The course is divided up into four modules, as follows:

Module 1: Bookkeeping

  • Why keep books?
  • Book-keeping methods
  • Introduction to VAT
  • The analysed cash book
  • Sales and purchase day books
  • Reconciling the bank account
  • Double entry book-keeping
  • Single entry systems

Module 2: Credit Control

  • Cracking the credit problem
  • Is my customer credit worthy?
  • Credit control routines
  • Debt recovery through the courts
  • Statutory demands, insolvency and bankruptcy
  • VAT and tax relief for bad debts

Module 3: Costing & Pricing

  • Pricing a product
  • Costing a product
  • Pricing a service
  • Break even analysis
  • Contribution theory
  • Absorption costing

Module 4: Management Accounting

  • Budgets
  • Cashflow
  • Managing cash
  • The trading budget
  • The profit & loss account
  • Management reports
  • Manual accounting records
  • Computerised accounting records
  • Breakeven analysis

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