Basic Financial Management
6 Credits (ECTS)
Basic Financial Management
Get 70% back via Tax Credit
€210 refund on this module
Module Description
In this course, learners will delve into the major areas of finance and explore the role of financial management in a managerial context. T
hey will gain a comprehensive understanding of financial statements and their purpose, allowing them to critically assess different types of costs such as direct, indirect, sunk, and opportunity costs.
The concept of the time value of money will also be covered, enabling learners to recognize the importance of considering the value of money over time.
Additionally, learners will explore capital structure and develop an understanding of the relationship between profit and cash flow, as well as how to interpret the cash flow statement.
By the end of the course, learners will have acquired valuable knowledge in finance and be equipped to apply it in practical scenarios.
Entry Requirements
Candidates who apply for this course must possess
- a pass in English Language* and Mathematics at MQF Level 3 (‘O’ Level or equivalent).
- Students whose first language is not English will be required to demonstrate evidence of an adequate level of English proficiency.
Target Audience
This course is targeted at:
- Candidates wanting to improve their employability opportunities.
- Candidates wanting to progress to higher qualifications in the areas of management.
Career Paths
This programme aims to help you develop essential work skills and behaviours that are needed for you to secure and sustain meaningful employment, as well as to help you progress towards managerial positions.
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Modular Assessment
- Project Assessment
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The formative and summative assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Module Intake Dates
October 2024
Additional Info
Reading for the entire Foundation Certificate in Management as presented in this brochure costs €1,500.*
Upon successful completion of this course, students will be eligible for a 70% refund of the cost through the ‘Get Qualified’ scheme.**
Due to the modular structure of the course, you may also opt to take individual modules as stand-alone. The entry requirements still apply.***
*Prices are applicable to students who reside in Malta at the time of applying.
**Terms and conditions apply.
*** For the price of individual modules, please contact the IDEA Academy team.
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Recognise and relate the various elements of financial statements and accounting cycle
- istinguish between direct and indirect costs, understand their representation in the income statement and recognise their input in calculating profitability margins
- Identify the various cash flow categories in the cash flow statement and discuss the effect of changes in working capital; · Distinguish fixed from current assets, short from long-term liabilities.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Introduction to financial management.
- Understanding financial statements.
- Time period assumption and the accrual basis of accounting..
- Income statement and Statement of Financial position.
- Cash flow statement and Statement of Shareholders equity.
- Interpreting and using financial statements for business planning and assessing financial health of the company.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Examine the relationship between profit, cash flow, financial position and statement of shareholders and equity.
- Categorise the financial structures of different forms of business organisations.
- Identify from a set of financial statements, aspects of the business that require more clarification.
- Detect major inconsistencies in the accounting cycle.
Module-Specific Digital Skills and Competences:
The learner will be able to:
- Navigate through the online learning platform to benefit from assignments, discussion boards, literature, tutorials etc.