Business Accounting and Financial Literacy

Accounting and Finance

Unit Code
Level 4
Distance Learning
Class Room
Unit Code
Level 4
Distance Learning Fee
Face to Face Fee
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Total Fee £1600

£2360 (£1600 during the tuition waiver period)

Please see the Tuition Fee section to see if you are eligible for a scholarship.
Course Overview

The "Financial Literacy and Business Accounting" module is a comprehensive exploration of essential financial skills, focusing on the comprehension and analysis of financial statements. This module aims to equip learners with the expertise to exercise effective cost management, monitor the financial performance of their business units, and ultimately drive profitability to achieve their financial goals. Participants will develop a solid foundational understanding of accounting principles and financial statement preparation, enabling them to confidently navigate the world of financial data. Through specialised training in financial analysis, learners will gain the ability to make informed decisions, evaluate the performance of their business units, and provide strategic recommendations to enhance overall financial performance. By the conclusion of this module, participants will possess invaluable financial acumen, empowering them to make sound financial decisions and effectively contribute to the success of their organisations.

Course Content

Introduction to the module

Introduction to Financial Statements

  • Understanding Financial Statements 
  • Types of financial statements 
  • Organisational Management Accounts and Balance sheets 
  • Preparation of a Balance Sheet 
  • Interpreting an Income Statement: Profitability Ratios

Conducting Financial Analysis

  • Nature and Significance of Financial Analysis 
  • Types of Financial Analysis 
  • The Difference Between Financial Analysis and Financial Reporting  
  • Comparative Statements Preparation and Data Interpretation  
  • Trend Percentage Calculation and Interpretation

Financial Decision-Making

  • Importance of Financial Analysis in Decision-Making, Planning, and Management
  • Methods of Financial Analysis Comparison  
  • Applying Tools and Methods of Financial Analysis in Real-life Business 
  • Financial Analysis for Divestitures and Asset Sales

Budgeting and Forecasting

  • The Role of Budgeting and Forecasting in Business Planning and Decision-Making  
  • Types of Budgets (Operating, Financial, Master)  
  • Key Financial Metrics Used in Budgeting

Budgeting techniques

  • Monitoring and Analysing Budget Variances  
  • Cost Classifications  
  • Use the High-Low Method and Regression Analysis to Separate Fixed and Variable Costs 
  • Calculate the Contribution Margin and Contribution Margin Ratio  
  • The relationship Between Sales, Costs, and Profits 
  • Budgeting and Control of Overhead Costs

Financial planning process strategy

  • Financial Planning Process 
  • Strategic Planning and Financial Strategy Alignment 
  • Financial Risk Management
  • Financial Performance Measurement and Evaluation

Ethics in Finance and Accounting

  • Ethical Issues in Finance and Accounting 
  • Professional Codes of Conduct and Standards (CFA Institute, AICPA, IMA) 
  • Corporate Social Responsibility and Sustainability Reporting
Learning Outcome & Assessment Criteria

1.  Understand financial statements

  1. Understand concepts related to Financial Statements
  2. Prepare organisational management accounts and balance sheets, including profit and loss accounts
  3. Apply, analyze and prepare a cash flow statement

2.  Demonstrate the ability to conduct financial analysis

  1. Describe the nature and significance of financial analysis
  2. Identify the objectives of financial analysis
  3. Describe the various tools of financial analysis
  4. Identify the limitations of financial analysis
  5. Prepare comparative statements and interpret the data
  6. Calculate and interpret trend percentages

3.  Understand the concepts of financial decision-making

  1. Describe and understand the importance of financial analysis in business decision-making, planning and management
  2. Compare and contrast methods in financial analysis
  3. Apply tools and methods in Financial Analysis to real-life business decision-making, planning, and management
  • The assessment strategy for this course is designed to test all the learning outcomes.
  • Learners must demonstrate successful achievement of all learning outcomes to pass the course.
Assessment Marking Criteria


Citizens of the following countries are eligible for a 50% scholarship upon writing a personal statement. All scholarships are to be approved by the Academic Board. The list of countries are: Sri Lanka, Indonesia, Philippines, Bhutan, Morocco, Vietnam, Papua New Guinea, Laos, Cambodia, India, Nigeria, Ghana, Bangladesh, Laos, Myanmar, Pakistan, Nepal and South Africa. Please talk to your student counselor and ask for the Coupon Code to get the 50% Tuition Waiver.

  • The assessment criteria for a pass will be presented with the summative exercise.
  • Further information and guidance on the assessment will be made available through the tutor.
Unit Pass Requirements

To pass the unit a 40% overall grade must be achieved.

Frequently Asked Questions
What is included in the cost of my programme?
  • All course material, including online modules and written assignments
  • Unlimited personal tutor support with online sessions
  • Dedicated student support
  • Access to an online community learning forums
  • Assignment marking and feedback
Am I eligible for this programme?

You are eligible if you meet our stipulated entry requirements.

Standard ROUTE

Easy Monthly Payments


Access to LMS

Easy 12 instalments

Complete in 12 months

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Requires submitting 1 assignment per month



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Access to LMS

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Complete in 6 months

Priority support

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Access to LMS

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Complete at your own pace

Priority support

Unlimited tutor support

Dedicated counselor

No additional bank charges

Career guidance & advise

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