| University | London College of Professional Studies (LCPS) |
|---|---|
| Subject | Unit 6 Introduction to Financial Controls in Business (A/650/4822) |
Unit 6 Introduction to Financial Controls in Business Assignment Brief
| Qualification | ATHE Level 3 Diploma in Business |
|---|---|
| Unit Title | Unit 6 Introduction to Financial Controls in Business |
| Unit Reference Number | A/650/4822 |
| level | 3 |
| Credits | 15 |
| GLH | 90 |
| Unit grading structure | Pass, Merit and Distinction |
Unit Aim
Learners will develop knowledge and understanding of budgets, budgetary control, costings, cash flow, and basic ratio analysis. They will have the opportunity to construct simple budgets and cashflows.
Learning Outcomes and Assessment Criteria
1. Understand business costs and breakeven
1.3 Explain
(a) fixed (indirect) costs
(b) variable (direct) costs
(c) semi-variable costs and
(d) marginal costs
1.4 (a) Explain the concept of contribution and (b) the significance of the breakeven level of output
2. Understand the importance of managing budgets
2.1 Construct a simple budget
2.2 Explain
(a) how budgets are monitored using budget variance analysis and
(b) the benefits of an effective budgetary control process
3. Can calculate and analyse basic financial ratios
3.1 Calculate the
(a) gross and net profit ratios
(b) return on capital ratio and
(c) the current and quick liquidity ratios
3.2 Analyse the possible reasons for the results from AC 3.1
4. Understand the importance of monitoring cash flow
4.1 Explain the differences between cash and profit
4.2 Construct a simple cash flow statement
4.3 Analyse the importance to a business of managing cash flow
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