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Talk to an Expert| Category | Assignment | Subject | Accounting |
|---|---|---|---|
| University | OTHM | Module Title | Finance and Accounting (R/650/1147) |
| Qualification | OTHM Level 5 Extended Diploma in Business Management (610/0335/9) |
| Unit Reference Code | R/650/1147 |
| Unit Name | Finance and Accounting |
| Credit | 20 |
| GLH | 100 |
| TQT | 200 |
| Sector Subject Area (SSA) | 15.3 Business Management |
| Unit Grading Type | Pass / Fail |
Having and effective finance and accounting function will not only help secure the financial strength of a business but will also support managers to develop and implement a business strategy. The aim of this unit is, therefore, to develop, in learners, the theoretical and applied knowledge to prepare, interpret and adjust financial statements alongside the preparation of budgets.
| Learning Outcome – The learner will: | Assessment Criterion – The learner can: |
| 1. Understand the context and purpose of finance and accounting. | 1.1 Explain the purpose of finance and accounting.
1.2 Explain the regulatory and legal influences on a business’s finance and accounting function. 1.3 Explain how the finance and accounting function supports a business’s decision making. |
| 2. Be able to prepare financial statements for different types of businesses. | 2.1 Differentiate between different financial statements.
2.2 Prepare financial statements for a sole trader. 2.3 Prepare financial statements for a partnership. 2.4 Apply techniques to make adjustments to financial statements. |
| 3. Be able to interpret financial statements. | 3.1 Calculate financial ratios from a set of business accounts.
3.2 Compare organisational performance using historical financial data. |
| 4. Be able to prepare a budget. | 4.1 Differentiate between different types of budgets.
4.2 Prepare different types of budgets. |
| Unit Learning Outcomes | Assessment Criteria |
|---|---|
| LO 1 Know about the context and purpose of finance and accounting | 1.1, 1.2, 1.3 |
| LO 2 Be able to prepare financial statements for different types of businesses | 2.1 |
| LO 4 Be able to prepare a budget | 4.1 |
To demonstrate you have a fundamental understanding of finance and accounting, you have been tasked with writing an essay which considers the following:
Delivery and Submission
The submission is in the form of an essay written in Word format.
The recommended word limit is 1000 words excluding diagrams, references, and appendices.
Referencing
You are expected to use relevant academic and reliable sources, and clearly reference these in your work. References should be added to the text and placed at the end in a references list, using Harvard Referencing style.
You should complete a bibliography to support all evidence.
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Chat With OTHM Expert Writers| Unit Learning Outcomes | Assessment Criteria |
|---|---|
| LO 2 Be able to prepare financial statements for different types of businesses. | 2.2, 2.3, 2.4 |
| LO 3 Be able to interpret financial statements. | 3.1, 3.2 |
Assignment Brief and Guidance
Learners will need to be supplied with a range of financial statements / accounts. These can be downloaded by the tutor from the Internet. This will allow the learner the opportunity to analyse and evaluate the required formats, concepts and legal requirements.
The set of financial statements / accounts supplied to the learners should be one for a sole trader and one for a partnership.
Part A:
Using the financial information your tutor has provided, you are required to:
Part B: Using the adjusted financial statements you chose from Part A; you are required to:
Delivery and Submission
Part A: Two sets of financial statements which accurately reflect the financial data supplied. One set of financial statements for either the sole trader or partnership once they have been adjusted based on the additional data supplied.
Part B: The submission is in the form of a set of financial ratios (equivalent to 400 words) and a summary statement in Word format. The recommended word limit for the summary statement is 250 words.
| Unit Learning Outcome | Assessment Criteria |
|---|---|
| LO 4 Be able to prepare a budget. | 4.2 |
Assignment Brief and Guidance
Learners will need to be supplied with the range of company accounts used in Task 2.
Now that you have completed the financial ratios and been able to summarise the financial performance of the business Task 2, your final task is to produce a set of budgets for the same company.
You will need to:
Delivery and Submission
The submission is in the form a spreadsheet containing a master budget and two operating budgets.
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