Course Description
This QQI Level 6 Finance module is designed to provide the learner with understanding, knowledge and practical skills required to understand the basics of finance and how money works.
Learners who successfully complete this course will:
- understand financial jargon
- develop an awareness of the key elements to good financial management
- demonstrate their ability to read financial statements
- be able to assess financial viability and performance
- develop their confidence in communicating regarding financial matters
- appreciate the importance and the elements of monetary control within an organisation
- be familiar with the time value of money.
Course Syllabus
Topics covered include:
- Unit 1: Understanding Financial Statements
- Unit 2: Budgeting and Cashflow Management
- Unit 3: Costing & Pricing
- Unit 4: Capital Budgeting
Entry Requirements / Prerequisites:
- Level 5 certificate or equivalent in a relevant subject area (Business) and/or relevant practical experience (3 years minimum) – Please ask about our requirements surrounding Recognition of Prior Learning (RPL) for entry.
- Mature students (over 23 years) may be exempt from the above prerequisites.
- English Language Requirement: Students entering programmes leading to awards at Level 6 are expected to be able to: fluently read, draft, prepare and understand complex information, including quantitative information, that is personally relevant and reflecting a broad knowledge base. For example, this might include text and other information relating to abstract theoretical ideas, concerns or procedures, such as local planning concerns in relation to broader spatial strategy, political issues in relation to particular agenda, budget plans/ specifications.
- Learners undertaking this programme must have basic IT skills and access to the necessary equipment to enable them to undertake an online programme: computer, broadband, email, Microsoft, recording equipment necessary for some skills demonstration tasks, and where applicable any other specialised software/equipment.
- As this programme is delivered through distance learning or eLearning, students must be capable of studying on their own initiative.
Progression to further Studies:
This course leads to a level 6 award on the National Framework of Qualifications. You can use this credit towards completing a major award in any of the following Major awards:
- 6M5013 Administration
- 6M4985 Business
- 6M4587 Management
Assessments:
Examination: 60%
Assignment: 40%
Examination:
The candidates will take an online theory examination that will assess the candidates’ ability to recall and apply theory and understanding, requiring responses to a range of question types, short answer and structured. Exam duration – 1.5hrs.
The format of the examination will be as follows:
Section A – 7 short questions.
Candidates are required to answer 7 (5 marks each). Students will be asked to answer a range of definitions, do some short calculations or draw a diagram based on the course content.
Section B – 2 structured questions.
Candidates are required to answer 2 (12.5 marks each).
Students may be asked to do a final accounts question, do some cost and management calculations, do some business structure questions or performed some performance related calculations in relation to funding and gearing profile.
Assignment:
1. Students will be given a Trading, Profit and Loss and Balance Sheet or cashflow statement for a Company and be asked to calculate and comment on a series of ratios to assess the financial performance of the Company.
2. Students may then be asked to do any or all of the following:
- Outline how the regulatory framework impacts on the presentation of the information in the financial statements
- State the difference between the profit and cash of the Company and comment therein
- List and comment on non-financial factors which may impact on the Company
- Make recommendations on liquidity, operational efficiency, profitability and return on investment
- Explain financial terminology relating to the financial statements.
This Finance (6N4165) programme is delivered by our sister College, The Open College in our venues. This programme is validated by QQI and The Open College.
