Accreditation
Skillsfirst Level 3 Award in Business Finance
This Award is designed to evaluate the learners’ ability to apply, calculate and use numerical skills within a business context. It will provide learners with an understanding of the preparation of a number of numerical, graphical and financial formats sufficient to provide useful information monitoring, decision making and problem solving. It will enable learners to apply numerical and financial information used by management to monitor and control, take decisions and solve problems within organisations and an ability to undertake analysis of that information.
There are four learning outcomes to this Award which are:
a) know how to allocate, apportion and absorb overhead costs in a business;
b) analyse variances in standard costing;
c) know how to prepare and use management accounting information for short-term decision making;
d) know how to prepare management accounting information for long-term decision making and planning.
To achieve the Award, learners will have to show that they have achieved all four learning outcomes by attending five one-day workshops and successfully passing a series of multiple-choice review questions.
As a level 3 qualification within the Qualification & Credit Framework, this is a nationally-recognised qualification and having achieved the Award, learners would be able to progress on to related qualifications such as the Level 2/3 in Accounting and other similar Business Administration qualifications.
