Essential Units for Ofqual Listed Level 5 Diploma in Accounting and Finance
Unit 1: Introduction to Accounting
• Define accounting and its purpose
• Identify the main components of a financial statement
• Explain the role of accounting in business decision-making
Unit 2: Financial Accounting
• Define financial statements and their purpose
• Explain the different types of financial statements
• Describe the accounting cycle and its importance
Unit 3: Financial Management
• Define financial management and its objectives
• Discuss the role of financial managers in an organization
• Explain the concept of capital budgeting
Unit 4: Accounting Standards
• Define accounting standards and their importance
• Explain the role of accounting standards in financial reporting
• Discuss the International Financial Reporting Standards (IFRS)
Unit 5: Financial Analysis
• Define financial analysis and its objectives
• Explain the different types of financial analysis
• Discuss the use of financial analysis in decision-making
Unit 6: Advanced Accounting
• Define accounting for depreciation and its importance
• Explain the concept of accounting for leases
• Discuss the accounting for intangible assets
The assessment is done via submission of assignment. There are no written exams.