Training Course: AF04 - Award in Accounting and Finance

Course Description: This Award is designed to provide learners with an understanding of key accounting and financial management concepts which will be applied to the context of their work. The purpose of this course is to develop learners' knowledge and understanding of key concepts relevant to accounting and finance in the contemporary organisation. The Award focuses on principles of financial accounting, financial analysis, and management accounting. In addition, the purpose of the course is to enable learners to acquire skills in computerized accounting, calculating costs and cash flow as well as a range of tools for financial analysis. The Award also examines financial decision-making, and identifies the tools and methods managers use to make informed decisions. Various methods and theories managers use to track costs and profits will be discussed and emphasis will be given on how managers can report the overall performance of the business or department for internal use.

EQF/ MQF Level: Level 4                                                   ECTS per course: 6 

Mode of Delivery: Traditional/ Face to Face                    Total Hours: 150 hours

Mode of Attendance: Part Time                                       Language: English  

Programme Duration: 1 Month

Target Audience: 16-18, 25+,

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Target Group: This course is aimed at learners 18+ and is particularly aimed at individuals who are looking to acquire knowledge of key concepts in accounting and finance in the contemporary organizational context. The Award in Accounting & Finance is suitable for learners who wish to enrich their portfolio by certifying a range of skills applicable or required in a wide variety of financial positions and roles both within and across different organisations.

Accreditation Category: Further Education Programme

Accredited by: Malta Further & Higher Education Authority. (MFHEA). 

Course Structure: This course will help students to develop their accounting and finance skills by:

1. Understanding key concepts of financial accounting.

2. Acquiring knowledge of financial management.

3. Developing knowledge of business budgeting and planning.

4. Financial Reporting & Financial Statement Analysis.

5. Use of computerised accounting systems.

6. Key concepts cost and management accounting.

7. Cash flow preparation and use.

8. Managerial accounting & decision making.  

Knowledge:

1. Demonstrate an understanding of the theoretical framework of accounting & finance and the basic principles and conventions underlying accounting and financial statements.

2. Appreciate the nature and scope of the role of accountant within the organization.

3. Understand the importance of costs and budgets in an organisation and their implications on decision making process.

4. Understand the importance of ethical issues on accounting and finance procedures.

Skills

1. Prepare and present financial statements for profit making and non-profit making organisations.

2. Appreciate the role of cost behaviour and budgeting in decision making and management control.

Competences:

The competences which the students gain during this course include:

1. Enable students to prepare straightforward financial reports for use internally.

2. Use information contained in externally published and internally prepared reports for decision making.

3. Enable students to contribute to the decision-making process through an understanding how costs arise.

4. Enable students to participate actively in the budgetary control processes of organisations.

Entry Requirements:

·         Be in possession of Minimum Level 3 certification from a recognised local or foreign awarding body or;

·         0-level standard of education, or

·         be in possession of a School Leaving Certificate, or;

·         Have at least 3 years relevant work experience.

·         Have a good command of oral and written communication in English.

Outline of Course: This unit focuses on providing students with understanding of the nature and scope of accounting. It provides the context in which problem solving and analytical skills can be used. Key aspects of the module are the correct sorting of financial information into correctly formatted accounting statements, and the use of such figures in subsequent analysis. Problem solving is a key issue to all aspects.

Competences

a) Demonstrate an understanding of the theoretical framework of accounting and the basic principles and conventions underlying accounting statements.

b) Prepare and present financial statements for profit making and non-profit making organisations.

c)Appreciate the nature and scope of the role of accountant within the organization.

d) Understand the importance of costs and budgets in an organisation and their implications on decision making process.

Knowledge

a) Understand through directed examples of the appropriate accounting concepts, the scope, objectives, roles and principles of Accounting and Management Accounting and their applications in business situations.

b) Knowledge of financial statements formats, accounting concepts and conventions.

c) Understand that the role of accounting in organisations is constrained by ethical issues.

 Skills 

Applying knowledge and understanding

The learner will be able to:

a) Analysis information to produce accounting statements and

then to compare with past performance and norms. 

b) Solve basic accounting problems arisen in organisations analyst basic accounting information.

c) Apply principles of accounting utilizing systematic problem-solving process and critical thinking skills.

Judgment Skills and Critical Abilities

a) Investigate through the application of appropriate concepts to understand the working of accounting and management accounting in organisations.

b) Evaluate the role of accounting system within the organisation.

c) Interpret the financial statements of profit making and non-profit making organisation.

d) Appreciate the role of cost behaviour and budgeting in decision making and management control.

Module-Specific Communication Skills

a) Research theories & principles of accounting.

b) Structure and present a logical argument as well as reach conclusions.

c) Clearly share findings derived from the investigations with peers in a variety of formats, both orally and written (i.e. case study, report) using terminology and demonstrating good use of core business skills.

Module-Specific Learner Skills

a) Organise, plan, and manage learning independently and in groups utilising key business skills like IT skills, accounting, teamwork, to apply them in accounting problem solving and decision-making context.

Module-Specific Digital Skills and Competences

a) Use search engines to research course material.

b) Use spreadsheet software and word document software for their assignments.

c) Use appropriate software to assist formulation of financial data.

Learning Outcome 1: Outcome Type – Skill

a) Clearly share findings derived from the investigations with peers in a variety of formats, both orally and written (i.e., case study, report) using terminology and demonstrating good use of core business decision-making skills.

Learning Outcome 2: Outcome Type – Knowledge

a) Organise, plan, and manage learning independently and in groups utilising key business skills like IT skills, accounting, teamwork, to apply them in accounting problem solving and financial decision-making context.

Assessment: Assessment in each of the three units consists of

1) Written assignment assessing student's ability to apply theoretical concepts to practical organisational issues. 

2) Written examinations assessing student's ability to solve a range of accounting and financial numerical problems and case studies. 

Hours of Total Learning – 150:

Total Contact Hours: 45

Self-Study Hours: 90

Supervised Placement and Practice Hours: 0

Assessment Hours: 15

Course Fee: Starting from €2,500