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Module Description

This unit is about financial systems and controls and the impact of external factors on organisational financial management.

At the end of the unit the following competences will have been achieved and the learner will be able to:

• Assess the relationship(s) between a financial system or function and other systems or functions in an organisation
• Describe the systems of accounts and financial statements used to control a financial system
• Analyse financial information contained in a set of accounts or financial statements
• Construct a budget for an area of management responsibility
• Develop budgetary control systems and compare actuals with planned expenditure
• Discuss corrective actions to be taken in response to budgetary variations
• Identify conflicts that can occur with management control systems and how these could be resolved or minimised
• Identify the current and potential sources of finance that support organisational activities
• Evaluate the distribution of finance in support of organisational activities
• Discuss the monitoring and control of finance employed in support of organisational activities
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