Money is at the core of every business decision, so whether you’d like to become a thriving entrepreneur or simply help in the running of a successful company, a solid understanding of financial management is a must.
Business Finance Level 2 Online Course – what you’ll learn
In this flexible online course, you’ll discover why bookkeeping is essential, and learn common principles and methods such as double entry. You’ll explore credit control and debt recovery, discover how to appropriately price products and services, and become adept at managing budgets and cash flow. In short, you’ll gain all the knowledge you need to confidently handle a company’s finances.
What you'll learn
Unit 1 - Bookkeeping
Bookkeeping is vital to any business, in order to keep income and expenses properly organised. In unit one, you’ll learn common bookkeeping methods, get an introduction to VAT, and discover how to keep track of your accounts through sales and purchase day books. You’ll also learn how to reconcile your bank accounts, and learn the basics of double and single entry bookkeeping.
Unit 2 - Credit Control
Credit control can be tricky for any business – how do you know which customers are credit worthy? In this unit, you’ll discover the answer to this question, along with common credit control routes, and how to pursue debt recovery through the courts. You’ll also learn about VAT and tax relief for bad debts.
Unit 3 - Costing & Pricing
In the third unit, you’ll discover how to price your products and services appropriately, and conduct a break even analysis. You’ll also delve into contribution theory, and absorption costing.
Unit 4 - Management Accounting
In the final unit, you’ll take a comprehensive look at budgets and cashflow, and discover how to create a profit and loss account. You’ll also find out how to produce management reports, as well as manual and computerised accounting records.
The Quality Licence Scheme is part of the Skills and Education Group, a charitable organisation that unites education and skills-orientated organisations that share similar values and objectives. With more than 100 years of collective experience, the Skills and Education Group’s strategic partnerships create opportunities to inform, influence and represent the wider education and skills sector.
At the end of this course, successful learners will receive a Certificate of Achievement from QLS (Quality Licence Scheme) and a Learner Unit Summary (which lists the details of all of the units you have completed as part of your course). Find out more about QLS.
How is this course assessed or examined?
Throughout this course, you may be expected to complete assignments, essays, research projects, posters, leaflets, presentations, video/audio recordings, and work-based and practical learning sessions to meet the requirements of your course. This information will be included in your study pack detailing exactly what you need to do to accomplish your goals as a student.
While there are no strict entry requirements for this level 2 Business Finance course, it is strongly recommended that you have the ability to effectively read and write in English.