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Diploma in Accounting & Finance

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Diploma in Accounting & Finance

Course Overview

Professional Course in Finance and Accounting

Accounting and finance play an important role in the management of any organization – Profit-making or Charity. Indeed, without deep knowledge of the rules, strategies, processes of accounting and finance,  many organisations have floundered and failed.

 CPD’s Advanced Diploma in Accounting and Finance provides the most interesting platform for candidates with no knowledge of accounting. This professional course in finance and accounting also accommodates candidates with prior knowledge of this area of study. The Diploma in Accounting and Finance course provides candidates with an in-depth understanding of financial analysis and other core accounting skills, which positions them as leaders in the global business world.

The flexibility of this course allows even candidates with undergraduate degrees in arts, economics, law, business, science, and engineering, as well as those with some background in accounting and finance to have a fine grasp of the course. Our professional courses in finance and accounting provide an incredible opportunity for candidates to learn at their own pace, without being encumbered with deadlines and schedules. The practical-based assignment also aids candidates in grasping core practical skills of accountancy. With an ABC Award’s on completing the course, candidates can pride themselves as having the skills and knowledge needed to excel in any accounting role.

The Advanced Diploma in Accounting and Finance begins with a broad introduction to the challenging of accounting and moves on to discuss the roles of accountants and core accounting concepts and standards. Midway into the course, Journals and subsidiary Books, Profit and Loss accountants and Balance Sheet are explained. The interesting Cash flow Statements, Budgeting, and Financial Management are also expounded. The course then concludes with a look at various investment methods.

Course Syllabus

The Advanced Diploma in Accounting and Finance consists of the following 10 units.

Unit 1: Introduction to Accounting

The first unit of this course introduces the concept of Accounting and Finance. Candidates are exposed to the various systems of recording, summarising, and analysing financial transactions. Discussions are made on the types of people who rely on financial information, which includes the company's managers and employees, banks, investors, governmental agencies, financial analysts, and labour unions.

Unit 2: The Roles of an Accountant

Unit 2 explores the various roles of an accountant. With a sound understanding of the principles of accounting and finance, candidates learn the many duties of an accountant such as;

  • Data collection, entry and report generation.
  • Giving  financial advice and interpretation
  • Compiling financial statements (such as the balance sheet, income statement, and statement of profit and loss).
  • Performing financial calculations.
  • Reporting on financial performance.
  • Analysis of financial data.
  • Preparation of budgets.
  • Ensuring acquiescence to appropriate financial laws and regulations.
  • Developing and implementing financial recordkeeping systems.

Unit 3: Accounting Concepts and Standards

To intensify candidates’ knowledge of the course, unit 3 introduces accounting standards, which are the Standards for Financial Report issued by relevant government bodies. These standards set the accounting model for financial accounting policies and practices such as insurance and risk management, debt collection, buying and purchasing etc. Candidates also become familiar with authorities such as the International Accounting Standard Board (IASB) and accounting standards like International Financial Reporting Standards (IFRS).

Candidates are also familiar with accounting concepts, which refer to the variety of principles that form the basic outline for financial reporting. At the end of this unit, candidates are well acquainted with these standards and concepts.

Unit 4: Journals and Subsidiary

The course progresses to expose candidates to subsidiary books and journals crucial to the world of accounting and finance. These books and journal help sort and keep track of transactions within any financial institutions. At the end of this unit, candidates are well armed with details of subsidiary books such as; Sales Return Book, Purchases Book, Bills Receivable Book, Journals Sales Book and Bills Payable Book.

Unit 5: Profit and Loss Account

One of the important rudiments of accounting and finance is the profit and loss account. These accounts help any financial institution keep track of how much money is lost and gained within a specific timeframe. Candidates are taught the importance of profit and loss accounts and how to create one. The unit covers the components of a profit and loss account i.e. Sequence of Expenses, Office and Administration Expenses, Selling and Distribution Expenses, Financial and Other Expenses.

Unit 6: Balance Sheet

A balance sheet accounts for a company's assets, liabilities and shareholders' equity at a specific point in time. It also creates a starting point for computing rates of return and assessing the debts and capital of a company. This unit adequately covers this area of the course, giving the candidates an in-depth understanding of the course.

Unit 7: Cash Flow Statements

This unit introduces one of the three major financial statements that report the cash generated and spent during a specific period of time. This mediates between the income statement and balance sheet by showing the inflow and outflow of money. Candidates will be walked through the concepts of Operating Activities, Investing Activities and Financing Activities, all of which make up the cash flow statements.

Unit 8: Budgeting

Unit 8 deals with budgeting. The concept is first introduced with its various definitions. It then proceeds to explain the types which include; master, operating, cash flow, financial and static budget. Candidates are also exposed to the processes involved in budgeting such as; obtaining revenue estimate, updating budget assumptions, creating budget packages, reviewing budgets and so on. This unit teaches the importance of budgeting as a tool for financial management, as it helps set targets, curtail unnecessary expenditure, provide profit margins etc.

Unit 9: Financial Management

Financial Management is the focus of unit 9. This is a fundamental activity in any institute. It involves planning, organizing, controlling and monitoring financial resources in order to achieve set out objectives. The unit further gives an in-depth explanation of the various financial activities of an organization such as accounting, procurement of funds, funds usage, payments, and risk assessment.

Unit 10: Investment Methods

The concluding unit focuses on an important yet interesting aspect of the course.  Candidates are introduced to the concept of investments. The syllabus then proceeds to critically examine the three main investment methods: Debt investments or loans, Equity investments also known as company ownership and Hybrid investments.

Career Path

An advanced diploma in Accounting and Finance opens up diverse job opportunities. With an advanced diploma in this course, you can become a chartered accountant, chartered management accountant, company secretary, chartered public finance accountant, stockbroker or a forensic accountant. You can also apply your practical knowledge of finance as a data analyst, purchasing manager, economist, business development manager, retail banker, management consultant or as a tax adviser. Average potential earning for those in the field of accounting is between £56,000 and £110,000.

Who Shoud Take This Course
  • Graduates interested in pursuing a higher degree in accounting and finance or any other related field of study.
  • Accountants looking to deepen their knowledge of accounting and finance
  • Business owners seeking to understand simple cash flow to effectively manage their business.
  • People who already have pre-existing knowledge but wish to expand their knowledge and understanding in key areas of interest.
  • Anyone who wishes to acquire a solid foundation in accounting and finance.
Accreditation

At the end of this course successful learners will receive a Certificate of Achievementfrom ABC Awards and Certa Awards and a Learner Unit Summary (which lists the components the learner has completed as part of the course).

The course has been endorsed under the ABC Awards and Certa Awards Quality Licence Scheme.  This means that Certification for Professional Development (CPD) has undergone an external quality check to ensure that the organisation and the courses it offers, meet defined quality criteria. The completion of this course alone does not lead to a regulated qualification* but may be used as evidence of knowledge and skills gained. The Learner Unit Summary may be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this subject. To this end the learning outcomes of the course have been benchmarked at Level 5 against level descriptors published by Ofqual, to indicate the depth of study and level of demand/complexity involved in successful completion by the learner. 

The course itself has been designed by Certification for Professional Development (CPD) to meet specific learners’ and/or employers’ requirements which cannot be satisfied through current regulated qualifications. ABC Awards/Certa endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met.  A review of courses is carried out as part of the endorsement process.

ABC Awards and Certa Awards have long-established reputations for providing high quality vocational qualifications across a wide range of industries. ABC Awards and Certa Awards combine over 180 years of expertise combined with a responsive, flexible and innovative approach to the needs of our customers.

Renowned for excellent customer service, and quality standards, ABC Awards and Certa Awards also offer regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.

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Overview

Level Level 4
Duration 260 Hours
Endorsement Body Endorsed By ABC Awards and Certa Awards

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