Accounting & Finance Handbook

Accounting & Finance
Contents
1 Introduction
2 The Institute of Commercial Management (ICM)
3 ICM Articulation Agreements with Universities
4 Learning, Teaching and Assessment Strategy
4.1 Assessment
4.2 Student Workload
OURSE ANDBOOK
5 ICM Qualifications and Progression
2013
5.1 ICM Certificates (equivalent to NQF Level 4 Diplomas)
5.2 ICM Diplomas (equivalent to NQF Level 5 Diplomas)
5.3 ICM Advanced Diplomas (equivalent to NQF Level 6 Diplomas)
5.4 ICM Graduate Diplomas (equivalent to NQF Level 6 Diplomas)
5.5 ICM Post Graduate Diplomas (equivalent to NQF Level 7 Diplomas)
5.6 Relative Positioning of ICM Qualifications
6 Student Registration & Course/Level Entry Requirements
6.1 Student Registration
6.2 Student Registration Fees
6.3 Course/Level Entry Requirements
7 Examinations and Results
7.1 Examinations
7.2 Examination Entry Fees and Forms
7.3 Examination Timetable
7.4 Examination grades and remarking
7.5 Examination re-sits
7.6 Examination Closing Dates
7.7 Examination Results
7.8 Examination Grades
7.9 Transcript of Academic Results
7.10 Replacement Certificates
7.11 Deferrals
7.12 Subject Exemptions for Professional Programmes
7.13 Single Subject Candidates
8 Subject advice, educational guidance and student support
8.1 Study Methods
8.2 Payment Methods
8.3 Choosing your course of study
8.4 ICM Approved Centres
9 Textbooks
10 Students with learning difficulties
11 Copies of past examination papers and other forms of assessment
12 Unit Information
12.1 Programme Objectives
12.2 Recommended Course Duration
12.3 Continuing Education
12.4 Entry Requirements
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Tel: +44 (0) 1202 49055: +44 (0) 1202 490666 Email: [email protected] Web: www.icm.ac.uk
13 Course Structure
13.1 Unit Syllabuses
13.1.1 Bookkeeping Syllabus
13.1.2 Business Management & Administration Syllabus
13.1.3 Economics for Business Syllabus
13.1.4 Numeracy & Statistics Syllabus
13.1.5 Accounting II Syllabus
13.1.6 Business Law Syllabus
13.1.7 Computer Appreciation & Applications Syllabus
13.1.8 Cost Accounting Syllabus
13.1.9 Accounting III Syllabus
13.1.10 Auditing & Taxation Syllabus
13.1.11 Financial Management Syllabus
13.1.12 Management Theory & Practice Syllabus
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Introduction
The purpose of this Course Handbook is to provide you with general information about
studying with the Institute of Commercial Management (ICM). This Handbook should be read
in conjunction with other Guidelines available on the ICM website. The early pages of this
Handbook provide general information about ICM and its programmes. Later sections give
details about the equivalency of ICM Certificate (NQF* Level 4 qualifications), Diploma (NQF
Level 5 qualifications), Advanced Diploma (NQF Level 6 qualifications), Graduate Diploma
(NQF Level 6 qualifications) and Post Graduate Diploma Awards (NQF Level 7
qualifications). Please note that not all Levels are available for all programmes. The material
in this Handbook is as accurate as possible at the time of production.
*NQF: the UK National Qualifications Framework
The Institute of Commercial Management (ICM)
Established in the early 1970s, the Institute of Commercial Management provides academic
and vocational qualifications which are well recognised globally.
In its capacity as a course developer and an examining and certifying Board, the Institute
offers a wide range of professional and vocational awards in Business, Management and
related vocational areas.
ICM programmes are designed to address the personal development and training needs of
those wishing to enter the commercial sector and to support the continued development and
workplace flexibility of those already in employment.
ICMs global services include the design, development and certification of business
education and training programmes for education providers; the development and
certification of tailored education and training programmes for the corporate sector,
emerging industries and the global workforce and the examination, assessment and
certification of students undertaking business, management and related vocational education
programmes.
An acknowledged specialist in the design and development of progressive, practical and
multi-functional programmes of study, the Institute works with a range of public and private
sector clients including universities, business schools, colleges, training providers,
International Development Agencies, government agencies and local authorities.
ICM provides examinations in more than 200 subject areas ranging from accounting and
finance to tourism and hospitality and from marketing and advertising to project management
and examines and certifies candidates to an internationally consistent standard.
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ICM Articulation Agreements with Universities
The Institute has formal partnership arrangements with universities in the UK and overseas.
A full list of progression routes from ICM qualifications into Undergraduate and Post
Graduate courses at UK Universities is available from the ICM website.
Established articulation arrangements provide direct access to the second and final years of
a wide range of BA/BSc degrees for ICM Diploma qualifications (Level 5 Diploma) and
Advanced Diploma qualifications (Level 6 Diploma). Access to Masters programmes also

exist for those with ICM Graduate Diplomas (Level 6) and ICM Post Graduate Diplomas
(Level 7). In addition, ICM Certificate (Level 4 Diploma) holders may be eligible for entry to
year 1 of appropriate degrees.
Subject to status and grades obtained, students holding ICM Diploma qualifications at levels
4, 5, 6 and 7 are accepted onto Undergraduate and Post Graduate degree programmes
offered by institutions in continents across the globe.
Our strategic partners have agreed that students can enter their degree programmes with
Advanced Standing, provided they possess the right Grade profile and are able to meet
other admissions criteria, such as language competence. The stated grade and points
requirements may be subject to local variations.
Entry to the First Year
Application for entry to the first year of a relevant degree programme will be considered for
those students who hold a relevant ICM Certificate Level Award.
Entry to the Second Year
Application for entry to the second year of an Honours degree programme will be considered
for students who have passed a relevant ICM Diploma (Level 5) programme and have met
the following requirements:
obtained at least 24 Points from 8 subjects leading to the qualification
obtained at least a Grade C in all subjects in the Diploma
Entry to the Final Year
Students who have passed a relevant ICM Advanced Diploma (Level 6 Diploma) programme
will be considered for final year entry if they have achieved the following:
obtained at least 32 Points from 12 subjects leading to the Advanced Diploma
obtained at least a Grade C in all subjects in the Advanced Diploma
Entry to the Post Graduate Year
Students who have passed a relevant ICM Graduate Diploma (Level 6 Diploma) programme
will be considered for entry to Masters programmes if they have achieved the following:
obtained at least 12 Points from the final 4 subjects leading to the qualification
obtained at least a Grade C in all subjects in the Graduate Diploma
Converting ICM subject grades into points

The following rules apply in relation to converting ICM subject grades into points:
an A grade is awarded 6 points

a B grade is awarded 4 points
a C grade is awarded 2 points
a D grade is awarded 0 points
Progression Routes
Students wishing to progress to degree programmes should review the range of courses
available at our partner Universities. Information on appropriate university courses can be
obtained from our website.
The Institutes qualifications are also recognised by leading professional examining bodies
for either subject exemption or registration purposes. Further details can be obtained from
the appropriate examination bodies.
Learning, Teaching and Assessment Strategy
Tuition in preparation for the Institutes examinations takes place on a number of levels,
including lectures, seminars, class discussion and problem review and analysis.
Formal lectures provide a foundation of information, which students build on through directed
learning and self-managed study outside the classroom.
Students are actively encouraged to form study groups to discuss course material, fostering
a greater depth of learning experience.
4.1 Assessment
Assessment for the majority of programmes is based on final examinations. The Institute has
a traditional approach to assessment. Formative assessment is provided by ICM Teaching
Centres as and when appropriate and may include; essays, in-class tests, role play
exercises, presentations and projects. However, in terms of gaining a professional
qualification, and in order to maintain standards, ICM believes that students should be
formally assessed on the body of knowledge covered during the course and be examined as
individuals on the required learning outcomes.
4.2 Student Workload
In accordance with nationally accepted codes of practice in the UK, each 20 credit unit
represents a total of approximately 200 hours of learning. Typically, each ICM award at
undergraduate level comprises four units of 20 credits each. Students must complete four
units at each level leading to the awards of Certificate (Level 4 Diploma), Diploma (Level 5
Diploma), Advanced Diploma (Level 6 Diploma) and Graduate Diploma (Level 6 Diploma).
Thus, for example, in order to gain an ICM Advanced Diploma, a student must have
completed the Certificate, Diploma and Advanced Diploma stages. The Post Graduate
Diploma (Level 7 Diploma) consists of 120 credits divided into six units.
The learning hours for each unit are subdivided into appropriate categories of learning
opportunities, such as lectures, seminars, preparation time, directed study, time spent on
assessment items and exam preparation. At least one quarter of this time is usually devoted
to formal contact time.
A further one quarter of this time is related to directed learning. The balance of workload is
comprised of individual, self-managed student learning and revision.
Note that for a unit delivered in standard mode, the ICM examinations calendar
accommodates a teaching year of approximately 2 x 20 teaching weeks, and four weeks of
revision/end of year assessment.
Furthermore, each unit is assigned to a particular Level, with each Level corresponding to
the group of subjects contained within the programmes leading to the award of a Certificate
(Level 4 Diploma), Diploma (Level 5 Diploma), Advanced Diploma (Level 6 Diploma),
Graduate Diploma (Level 6 Diploma) or Post Graduate Diploma (Level 7 Diploma).
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ICM Qualifications and Progression
Understanding your qualification is important and the following guidelines outline how ICM
qualifications fit within the UK National Qualifications Framework and support vocational
learning.
ICM has benchmarked its qualifications against the UK National Qualifications Framework
(NQF). In recognition of the NQF levels and with reference to appropriate National
Occupational Standards, the Institute has produced the following level descriptors which
should be read in conjunction with the table provided in section 5.6.
5.1 ICM Certificates (equivalent to NQF Level 4 Diplomas)
ICM Certificates are awarded to those who have passed Part 1 (the first four or five subjects,
depending on the course) of an ICM Diploma programme. See below for ICM Diploma Entry
Requirements. ICM Certificates represent a level of qualification that recognises the ability to
gain, and where relevant apply a range of knowledge, skills and understanding.
ICM Certificate holders should be able to display competence in the application of
knowledge in the performance of a range of work activities, some of which may be routine
and predictable with some being complex or non-routine.
Learning at this level involves gaining knowledge and skills appropriate for individuals
working semi-independently, or receiving basic supervision and training from others in their
field of work.
Students should begin to develop a degree of individual responsibility or autonomy in their
study as well as the ability to collaborate with others, for example through participation in
work groups or teams.
Successful completion of the ICM Certificate enables entry to the first year of appropriate
degree programmes at a range of Universities. For a complete list of progression routes
please refer to the website.
5.2 ICM Diplomas (equivalent to NQF Level 5 Diplomas)
Entry to an ICM Diploma programme requires completion of secondary education or an
equivalent and recognised programme of study.
ICM Diplomas represent a level of qualification which recognises the ability to gain, and
where relevant apply a range of knowledge, skills and understanding.
ICM Diploma holders should be able to display competence in the application of knowledge
in a broad range of varied work activities performed in a wide variety of contexts, most of
which are complex and non-routine.
Learning at this level involves obtaining detailed knowledge and skills appropriate for people
working independently, or providing basic supervision and training of others in their field of
work and people wishing to go to University.
Progression is available from the ICM Diploma to the second year of relevant degree
programmes at a range of Universities. For a complete list of progression routes please refer
to the website.
5.3 ICM Advanced Diplomas (equivalent to NQF Level 6 Diplomas)
Entry to an ICM Advanced Diploma programme requires completion of the ICM Certificate
and Diploma in the selected programme. Students holding other relevant and equivalent
qualifications which contain ICM Diploma subjects could qualify for entry as well as subject
and Level exemptions.
ICM Advanced Diplomas represent a level of qualification which involves specialist learning
and detailed analysis of a high level of information, knowledge and skills in a specified area
of work or study.
Students undertaking an ICM Advanced Diploma should demonstrate the depth of
knowledge and understanding of an area of work or study to enable them to formulate
solutions and responses to complex problems and situations.
ICM Advanced Diplomas are appropriate for people working in positions such as Senior
Supervisors, Professionals or Managers. These individuals need to demonstrate significant
levels of knowledge, a high level of work expertise in job roles and competence in managing
and training others. Learning at this level is appropriate for people working in technical and
professional jobs, and/or managing and developing others.
The ICM Advanced Diploma is equivalent to NQF Level 6 and in terms of level and credit
value these qualifications are comparable to UK Intermediate Higher Education qualifications
such as HNDs, Diplomas of Higher Education and Foundation Degrees.
Progression is available from ICM Advanced Diplomas to the final year of relevant degree
programmes at a range of Universities. For a complete list of progression routes please refer
to the website.
5.4
ICM Graduate Diplomas (equivalent to NQF Level 6 Diplomas)
Entry to an ICM Graduate Diploma programme requires prior completion of the ICM Diploma
and Advanced Diploma in the selected programme.
Advanced Standing and Exemptions: Students holding relevant degrees and equivalent
qualifications which contain ICM Certificate, Diploma and Advanced Diploma subjects could
qualify for entry as well as subject and Level exemptions.
Students at this level study highly developed and complex levels of knowledge enabling the
development of in-depth and original responses to complicated and unpredictable problems
and situations.
Learning at the Graduate Diploma level involves the demonstration of high level specialist
professional knowledge appropriate for senior professionals and managers. Indicative
competencies involve the application of a range of fundamental principles across a wide and
often unpredictable variety of contexts as well as the ability to perform technical or
professional work activities in a variety of contexts with a substantial degree of personal
responsibility and autonomy.
A qualification at this level is appropriate for people working as knowledge-based
professionals or in professional management positions. This qualification is equivalent to a
Bachelors degree, and progression is available from the ICM Graduate Diploma to Post
Graduate programmes such as Masters degrees.
5.5 ICM Post Graduate Diplomas (equivalent to NQF Level 7 Diplomas)
Entry to an ICM Post Graduate Diploma programme requires completion of an ICM
Graduate Diploma, another Level 6 award, or a degree level qualification in an appropriate
discipline.
Refer to Section 6 for Advanced Standing arrangements for mature candidates.
Students at this level of study should display a mastery of high level knowledge and skills
and have professional and research-based skills.
This qualification is equivalent to two thirds of a Masters degree (MBA or MA) and advanced
standing can be given onto a range of Masters degrees. For a complete list of progression
routes please refer to the website.
5.6
Relative Positioning of ICM Qualifications
The following table gives an indication of the relative positioning of ICM awards, compared
with other types of qualifications and levels. Reference is made to levels in the UK National
Qualifications Framework and example qualifications at each level. In addition, the final
column in the table (FHEQ) shows the equivalent qualifications commonly being developed
and delivered in the University sector. For example, these indicate that the ICM Advanced
Diploma equates to an intermediate level award (in terms of credit accumulation this ICM
qualification equates to a Higher National Diploma). Furthermore, the ICM Graduate Diploma
equates to a Bachelors degree level qualification and the ICM Post Graduate Diploma
equates to a Masters degree level qualification.
Relative Positioning of ICM Qualifications
National Qualifications Framework

Framework for
(Levels and example vocational
ICM Levels
qualifications)
Level 7
Professional Diploma in Translation
Level 6
Diploma in Management
ICM Post Graduate

Diploma
(Level 7 Diploma)
M (masters), Masters
degrees, Post Graduate
certificates and diplomas
ICM
Graduate Diploma
(Level 6 Diploma)
H (honours)
Bachelors degrees
(BSc/BA)
ICM
Advanced Diploma
(Level 6 Diploma)
I (intermediate)
Diplomas of higher
education, foundation
degrees, Higher National
Diplomas
Level 5
ICM Diploma
BTEC Higher National Diploma in 3D
(Level 5 Diploma)
Design
Level 4
Certificate in Early Years Practice
Framework for
Higher Education
Qualification Levels
(FHEQ)
ICM Diploma
(Level 5 Diploma)
C (certificate)
Certificates of higher
education
Level 3
Certificate in Small Animal Care
NVQ in Aeronautical Engineering
A levels
Level 2
Diploma for Beauty Specialists
NVQ in Agricultural Crop Production
GCSEs Grades A*-C
Level 1
Certificate in Motor Vehicle Studies
NVQ in Bakery
GCSEs Grades D-G
Entry e.g. Entry Level Certificate in
Adult Literacy
Student Registration & Course/Level Entry Requirements
6.1 Student Registration

In order to undertake any ICM examination candidates must be Registered ICM Student
Members.
Student Membership can be obtained by completing the appropriate Student Registration
Application form and returning the form and the Student Registration Fee to the Institute.
Details of Student Registration Fees can be found on the ICM website.
The Student Registration fee is valid for one year and can be renewed annually.
Important Note: All students wishing to register for any ICM Advanced Diploma
programme or above, MUST complete and attach an Academic History form to their
Student Registration form. Copies of all qualifications and Awards obtained by the
student must also accompany the Academic History form.
The Academic History form is used to ensure that students are qualified to commence
their studies at the Level they have selected.
6.2 Student Registration Fees

Student Registration fees for standard ICM Awards and programmes are based on the
country in which you will undertake your examinations. The current fees levels are as
follows:
Group 1: If you are based in Europe, and EU Member State, North America, a Gulf
State, India, the Middle East, Australasia, Singapore, South Africa, China,
Hong Kong or Malaysia your Registration Fee will be 50.00 Pounds
Sterling.
Group 2: If you are based in sub-Saharan Africa, Central or South America,
Pakistan, Bangladesh, the Caribbean or North Africa your Registration
Fee will be 25.00 Pounds Sterling.
Group 3: A special rate exists for students in countries which have (a) emerged
from conflict (b) countries in which the general population is subject to
great poverty and (c) countries in which the UN acknowledge that the level
of economic activity and national per capita income is unacceptably low.
6.3
Course/Level Entry Requirements
ICM professional programmes are structured in Levels. These Levels are designed to
provide a structured and progressive level of knowledge.
All students are required to commence their studies at the Diploma Level of all programmes
unless they are able to claim subject-for-subject or Level exemptions.
Subject-for-subject exemptions can be applied for if the student has (a) been examined, in
the subject, by another recognised Awarding body and (b) has passed the examination/s set
by the alternate body.
The Institute operates an 'Open Entry' policy in respect of most of its Diploma Level
vocational programmes, subject to appropriate work experience, but prospective students
should note that the following qualifications are recommended for those wishing to undertake
ICM Diploma Level programmes:
Entry to an ICM Diploma Level Programme (NQF Level 5)

Entry to an ICM Diploma programme requires completion of secondary education or
equivalent. For example:
One GCE A-level plus three GCSEs (or equivalents) or 5 GCSEs
A suitable BTEC National Award
Any qualification equivalent to one or more of the above
The minimum age for registration for the majority of programmes is 18. Applicants over the
age of 20 who do not hold one of the recommended entry qualifications may also register for
some Diploma Level programmes providing they have been in full-time employment for a
minimum of two years and can produce a letter from their employer to confirm this.
Entry to an ICM Advanced Diploma Programme (NQF Level 6)

Entry to an ICM Advanced Diploma programme requires completion of the ICM Diploma
Level of the selected programme.
Entry to an ICM Graduate Diploma Programme (NQF Level 6)

Entry to an ICM Graduate Diploma requires completion of the ICM Diploma and Advanced
Diploma in the selected programme.
Entry to an ICM Post Graduate Diploma Programme (NQF Level 7)

Registration for an ICM Post Graduate Diploma is accepted from those:
who have completed an ICM Graduate Diploma
who hold any Level 6 business or management Award
holders of business and management degree level qualifications
Mature Candidates. Applications from those over the age of 25 who do not meet the
standard Entry Requirements will also be considered providing they:
Are over the age of 25
Have been in employment for 5 years a letter of support is required from the
applicants employer; and
Hold a management or senior supervisory position
Examinations and Results
7.1 Examinations
In order to achieve a consistent global standard the Institute sets all examination papers and
all candidate scripts are returned to the Institute for marking.
Invigilation of examinations is undertaken either by external Invigilators who are appointed
by the Institute or by the British Council. Examinations are held in March, June, September
and December and the Examination Timetable can be found on the ICM website.
Candidates must be registered and paid-up Student Members of the Institute at the time they
undertake their examinations. Examination papers are securely distributed to ICM Approved
Centres and scripts are assessed and moderated in the UK by ICM Appointed Examiners.
Full details of Examination dates can be found on the ICM website.
7.2 Examination Entry Fees and Forms

Examination Entry fees are shown on the appropriate Examination Entry form for the
subject/programme you are undertaking. In general, the standard Examination fee is 26.00
Pounds Sterling per subject. There are however some specialist programmes where a
higher subject fee may be payable. If you have any queries relating to fees please contact
your Teaching Centre.
In order to undertake any ICM Professional or Single Subject examination you must be a
Registered and paid-up ICM Student Member.
To enter for an examination you need to complete the relevant Examination Entry form and
submit it to the Institute.
7.3 Examination Timetable
ICM examinations take place four times each year, in March, June, September and
December. The Timetable for each year states the Closing Date for receipt of entries for
each examination Series. Please visit the website to view the ICM examination timetable.
7.4
Examination grades and re-marking
You can request that your examination script is re-marked if you are unhappy with your
result.
The fee for this is 35.00 Pounds Sterling per script. The Institute operates a triple marking
and moderation system. In the event that the moderator increases the original marks
awarded, the fee for re-marking your script will be refunded to you. Should the Grade
awarded remain the same, you will be issued with a full Examiners Report detailing your
examination performance. The Institute retains answer scripts for a maximum period of six
months. Examination scripts/answer books are not returned to candidates under any
circumstances.
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7.5
Examination re-sits
Although ICM Examinations are held every twelve weeks it should be noted that it takes an
average of twelve weeks to mark the scripts after each Examination Series.
If you sit, for example, for one or more subjects in March you will not receive your results
until June. This means that if you were to fail a subject in March, you would not be able to resit the subject in June, as you will have missed the Closing Date for the June Series.
Our advice is that you try to split your subject examinations between two consecutive
Examination Series e.g. If your programme has four subjects you could take two subjects in
one series and two in another series.
On this basis, were you to fail one subject in March you would be able to re-sit it in
September, giving you plenty of time for revision.
7.6
Examination Closing Dates
There is a Closing Date for receipt of Examination Entries and candidates entering for
examinations must ensure that their completed Examination Entry forms and fees reach the
Institute before the Closing Date for each Examination Series. Examination Timetables
indicate the closing date for receipt of entries for each sitting and this information also
appears on the ICM website. Entries received after the Closing Date are automatically
carried forward to the next Examination Series.
7.7
Examination Results
Results are distributed within twelve weeks from receipt of scripts. Candidates are advised
not to telephone the Institute for results as this information is confidential and cannot be
disclosed over the telephone.
7.8
Examination Grades
Should you wish to re-sit any examination to improve your previous Grade, please note that
the latest Grade you obtain will stand.
7.9
Transcript of Academic Results
You may request a transcript of your Academic Results, however please note there is a
charge of 15.00 Pounds Sterling for each Award transcript requested.
7.10 Replacement Certificates
Replacement certificates are available on payment of a fee of 20.00 Pounds Sterling per
certificate. Please include your Student Registration Number together with your current
postal address and indicate which certificate is required.
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7.11 Deferrals
There is a fee of 15.00 Pounds Sterling per subject should you wish to defer your
examinations to another Series for health or for any other reason. If you are unable to
undertake your examinations, it is essential you advise ICM before the appropriate
examination date, otherwise the full entry fee of 26.00 Pounds Sterling will be applicable.
Please note that you may only defer examinations on one occasion. The full entry fee of
26.00 Pounds Sterling per subject will become due if you defer on more than one occasion.
7.12 Subject Exemptions for Professional Programmes
Students holding relevant recognised qualifications from other professional bodies or
recognised Higher Education institutions may apply for Subject Exemptions, on a subject-forsubject basis. It may also be possible, subject to qualifications held, to obtain exemption
from a Level within a programme. Documentary evidence is required before any decision
can be made in connection with the granting of Subject/Level Exemptions. No exemptions
are given for case studies or assignments. Internally awarded school certificates and
diplomas are not accepted for exemption purposes.
7.13 Single Subject Candidates

Registered ICM students who do not want to complete a full ICM programme may study
individual subjects. Single Subject candidates receive a Single Subject Diploma on
successful completion of the relevant subject examination. Single Subjects qualify, on a
subject-for-subject basis, for subject exemptions from ICM professional programmes.
Note: 1. Case Studies, Assignments and Projects, including ALL subjects in any Post
Graduate programme, do not qualify for Single Subject Awards.
2. A student who undertakes, on a Single Subject basis, subjects within a Diploma,
Advanced Diploma, Graduate Diploma or Post Graduate ICM programme will not
be entitled to a professional Award unless they are exempted from or have
completed all lower Levels of that Award.
3. In order to comply with UKBA requirements, overseas students studying in the UK
(excluding those from EU countries) are not permitted to undertake Single
Subjects and must undertake a professional programme.
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Subject advice, educational guidance and student support
You are expected to be independent and to take responsibility for your own academic and
personal life. However, your study centre should also provide appropriate help and
assistance. Your tutors will direct your studies and ensure that you know what work you
need to cover in any given unit. Seek advice from academic staff either during or after class
or try to see them during their office hours.
8.1 Study Methods

Teaching Centres are provided with a detailed syllabus and reading list for each subject
area. Each Unit Syllabus clearly defines the areas that you will be required to cover for each
subject and your examination questions will be based on the areas and topics detailed for
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each unit. It is important to ensure that you obtain a copy of each unit syllabus from your
Teaching Centre. Alternatively, this information can be obtained online at
www.icm.education, in the Single Subject section.
Each Unit Syllabus is normally linked to one main textbook and the examiners base their
questions on the contents of the nominated core text.
The Unit Syllabuses also give details of 'Alternative Texts' and texts recommended for
further reading. It is advised that you should refer to the 'Alternative Texts' in order to
develop your skills and broaden your knowledge of the subject area.
8.2 Payment Methods
For our accepted methods of payment, please refer to the ICM website: www.icm.education
8.3 Choosing your course of study

As an ICM Student Member you can work towards obtaining either a recognised
Professional qualification or study for one or more of the 200 Single Subject Awards from the
list of subjects offered by the Institute. The choice is yours.
8.4 ICM Approved Centres
Tuition leading to the Institutes examinations can only be provided by Institutions which
have been granted ICM Approved Centre status. Please note that some ICM Teaching
Centres specialise in particular subject areas and not all ICM Centres will necessarily offer
tuition for every ICM course programme. Visit the website to find an ICM Approved Centre
near you.
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Textbooks
The recommended textbooks for each subject are shown on each subject syllabus.
Examiners base their questions on the contents of the recommended texts and it is therefore
important for you to ensure that you have access to the appropriate texts. You can obtain the
full list of books available to purchase from ICM and/or place orders by either contacting your
Centre or complete the Book Order Form and send it to ICMs Book Sales Manager at:
[email protected] .
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Students with specific learning difficulties
If you are diagnosed with a specific learning difficulty you may be granted special
arrangements for your examination/s. We will require a copy of an Assessment Report
issued within the last three years. The amount of additional time and any other
arrangements will be determined on the basis of the Report relating to your circumstances. It
is possible that you may be granted permission to use a computer or laptop without internet
connection in your examinations.
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Copies of past examination papers and other forms of assessment
The ICM website, www.icm.education, provides a database of recent examination papers,

assignments and Case Studies. These can be found in the Student Resources section of the
website.
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Unit Information
Covering all the major business and management areas and topics, the ICM programmes
have, over the past 40 years, achieved international recognition and are currently
undertaken by students in more than 40 countries.
12.1
Programme Objectives
To provide employees and prospective accounting and finance students with a body of
knowledge which will:
increase their employment opportunities
prepare them for careers in the field of accountancy and
provide them with a qualification which will enable them to progress to supervisory
positions at a later stage in their careers
12.2
Recommended Course Duration
To help calculate the duration of the programme, please refer to the section entitled Student
Work Load in section 4.2 of this handbook.
It is expected that a student will need at least 3 years of full-time study at an ICM Approved
Centre to complete the full Advanced Diploma programme.
Examination Grades
Grade A - Distinction
70% and above
Grade B - Credit
60% to 69%
Grade C - Pass
50% to 59%
Grade D - Pass
40% to 49%
Grade F - Fail
39% and under
Certification
On successful completion of all the examinations in Part 1, students are awarded the ICM
Certificate in Accounting & Finance; on successful completion of all the examinations in
Parts 1 & 2 students are awarded the ICM Diploma in Accounting & Finance. On successful
completion of all the examinations in Part 3 students are awarded the ICM Advanced
Diploma in Accounting & Finance and may apply for Associate Membership of the Institute.
14
12.3
Continuing Education
The Accounting programme will serve as an excellent route for students who ultimately seek
full professional status and will provide first class underpinning knowledge for the
mainstream UK based Accounting Bodies such as CIMA and ACCA.
CIMA will give full exemption for all four of their current (1995 scheme) stage one
examinations to candidates who have passed the eight subjects which now make up Parts 1
& 2 of the ICM Diploma in Accounting & Finance.
12.4
Entry Requirements
Students holding relevant recognised qualifications from other institutions or professional

examining bodies may apply for exemptions on a subject-for-subject basis.
The Institute operates an 'Open Access' policy in respect of many of its vocational
programmes but prospective students should note that the following entrance qualifications
are recommended for those wishing to undertake the ICM Diploma programme:
One GCE A-level plus three GCSEs (or equivalents)
A suitable BTEC National Award
Any qualification equivalent to one or more of the above
The minimum age for registration for this programme is 18.
Applicants over the age of 20 who do not hold one of the recommended entrance
qualifications may also register for the programme providing they have been in full-time
employment for a minimum of two years.
15
13
Course Structure
The Diploma in Accounting & Finance Part 1

1. Bookkeeping
2. Business Management & Administration
3. Economics for Business
4. Numeracy & Statistics
A Certificate in Accounting & Finance is awarded on completion of all Part 1 subjects
The Diploma in Accounting & Finance Part 2
5. Accounting II
6. Business Law
7. Computer Appreciation & Applications
8. Cost Accounting
The Diploma in Accounting & Finance is awarded on completion of all Part 1 & Part 2
subjects
The Advanced Diploma in Accounting & Finance
9. Accounting III
10. Auditing & Taxation
11. Financial Management
12. Management Theory & Practice
The Advanced Diploma in Accounting & Finance is awarded on completion of the above
subjects
13.1 Unit Syllabuses

Syllabuses for this programme are contained in the following sections.
16
13.1.1 Bookkeeping Syllabus
Unit Title
Bookkeeping
Unit Code
BKK-0605
Level
4 Diploma
Credits
20
Unit Leader
JWC
Pre-requisites
Main Aim(s) of the Unit:
This module introduces the fundamentals of accounting theory and practice and develops the
accounting techniques and skills necessary to provide a foundation for further study and practical
experience.
Main Topics of Study:
Introduction
What is accounting?
Business organisations and sources of finance
Financial statements: P and L and the balance sheet
The role of the accountant and the accounts office
The Accounting Model
Recording financial transactions: the ledger system and trial balance
The running balance method of recording
The purchase day book and the returns day book
VAT
Banking services
Cash book / bank reconciliation statements / petty cash books
Capital and revenue expenditure
The trial balance, journal and suspense accounts
Management Control
Control accounts
Sales and purchase ledgers
Learning Outcomes for the Unit:
At the end of this Unit, students will be able to:
1.
Understand key concepts and techniques useful in recording and analysing accounting
information.
2.
Produce solutions to accounting problems, which make appropriate use of accounting practice
and principles and which are well organised and clearly stated.
3.
Prepare statements reporting the financial performance and financial position of business
entities.
4.
Analyse accounting data and accounting reports using appropriate tools and techniques.
17
5.
Demonstrate an awareness of the context within which accounting operates and through which
it relates to the business environment.
The numbers in the boxes below show which of the above unit learning outcomes are related
to particular cognitive and key skills:
Knowledge &
Understanding
Analysis
Synthesis
/Creativity
Evaluation
Interactive &
Group Skills
Selfappraisal/
Reflection
on Practice
1,5
Planning and
Management of
Learning
Problem
Solving
Communication
& Presentation
Practical/Psycho
-motor Skills
Other skills
(please
specify):
1-5
Learning and teaching methods/strategies used to enable the achievement of learning

outcomes:
Learning takes place on a number of levels through lectures, class discussion including problem
review and analysis. Formal lectures provide a foundation of information on which the student builds
through directed learning and self managed learning outside of the class. The students are actively
encouraged to form study groups to discuss course material which fosters a greater depth learning
experience.
Assessment methods which enable the student to demonstrate the learning
outcomes for the Unit:
Weighting:
Assignment One
0%
Assignment Two
0%
Examination: 3 hours duration
100%
Indicative Reading for this Unit:

Main Text
Finance & Accounting, Giles, R., ICM Chapters 1-4, 5-16, 21, 22-25 and 40.
Alternative Texts and Further Reading
Frank Woods Bookkeeping & Accounts, Robinson & Wood, Prentice Hall
Students should also be prepared to read other suitable accounting text books
Guideline for Teaching and Learning Time (10 hrs per credit):
50 hours
Lectures / Seminars / Tutorials / Workshops

Tutorial support includes feedback on assignments and may vary by college according
to local needs and wishes.
50 hours
Directed learning
Advance reading and preparation / Class preparation / Background reading / Group
study / Portfolio / Diary etc.
100 hours
Self managed learning

Working through the course text and completing assignments as required will take up
the bulk of the learning time. In addition students are expected to engage with the tutor
and other students and to undertake further reading using the web and/or libraries.
18
13.1.2 Business Management & Administration Syllabus
Unit Title
Business Management & Administration
Unit Code
BMA-0605
Level
4 Diploma
Credits
20
Unit Leader
GW
Pre-requisites
The unit introduces the student to a range of studies which are useful in understanding people in the
workplace. It examines the concept of management within the global business environment and
through the appraisal of business cases, a variety of approaches are considered.
The unit prepares students for their likely future roles as managers in organisations. It encourages
them to synthesise knowledge and experience gained in other units by considering competing
perspectives on the nature of management. It encourages them to reflect upon the contribution that
they might make as individuals to the management process, and to explore their own skills as
potential managers, within the context of their peer group. The unit touches practical, moral and
ethical dimensions of the management role and examines the key problems and dilemmas that may
emerge for stakeholders in contemporary organisations.
The Organisational Background to Business Administration
The Management Framework to Business Administration
What are business administration and management?
The board of directors
Functions within an organisation
The 'systems' approach to organisation
Planning-control feedback cycles
Characteristic Features of Organisations
The structure of organisations and the need for authority
The features of bureaucratic and non-bureaucratic organisations
Traditional principles and types of organisation
More about systems and subsystems
The Structure of Business Enterprises
The pattern of organisations
Business types including; sole-trader enterprises, partnerships, limited partnerships, the
limited liability company, non-profit-making units (clubs and societies), public enterprises
Public sector organisations; autonomous public corporations, nationalised industries, local
government institutions, central government departments
19
Functions within Organisations

The Production Function
The production process and types of production
Site selection and factory planning
Plant and equipment
Materials and materials handling
Production administration
Costing aspects of production
Work study
Maintenance and production
CAD, CAM and CIM
The Purchasing Function
The nature of purchasing and the role of the purchasing officer
Purchasing department procedures, inventory control, stores control and economic order
quantity
The Research and Development Function
The functions of the research and development department
Basic research
Problem-based research
Ideas generation
Applied research and development
Patents, trade marks and service marks
Research and development in the business organisation
The Marketing Function
Introduction to marketing and the marketing philosophy
Market analysis and research
Promotion, publicity and public relations
Pricing policy
Credit control
Sales administration
Transport and distribution (logistics)
Export marketing
Personnel Department
The need for staff
The functions of the personnel department and a personnel policy
Employee records
Promotion, transfer, termination and dismissal
Industrial relations practice
The remuneration of staff
20
The Administrative Officers Role

Office Administration
The role of the administrative officer
Facilities management the 'new-look' office administrator
The office and its functions
The clerical function, business correspondence, mail inwards, mail outwards, systems for
producing business correspondence
Meetings, conferences, functions and delegation
Other Responsibilities of the Administrative Officer
The organisation and methods department
Security aspects of business
Risk management
The environment of organisations
What is a claimant?
Assessing the impact of claimants
1.
Provide critical evaluation of the major functional areas of a business and describe their
interrelationship.
2.
Evaluate competing perspectives on the nature of management as both a function and process
within organisations.
3.
Discuss the concept of managerial power and authority, in the context of the work of individual
managers, and organisations within their social and cultural contexts.
4.
Discuss models of managerial decision-making.
5.
Discuss the development of organisations in their historical, social and cultural contexts, and the
choices that this creates for the management of organisations.
6.
Explain the process of organisational change and development.
7.
Discuss management as a moral and ethical process.
8.
Demonstrate an appreciation of the role of the Administrator as part of the Managerial process.
Knowledge &
Understanding
Analysis
Synthesis
/Creativity
Evaluation
Interactive &
Group Skills
Self-appraisal/
Reflection on
Practice
1-8
1,2,4,7
1,2
1,2,7,8
Planning and
Management of
Learning
Problem
Solving
Communication
& Presentation
Practical/Psycho
-motor Skills
Other skills
(please
specify):
1,2
1-8
21

outcomes:
experience.
Weighting:
100%

Main Text
Business Management & Administration, Whitehead, G. & Whitehall, G., Institute of Commercial
Management
Modern Business Administration, Appleby, R.C., Pitman
The Structure of Business, Buckley, M., Pitman
Students should also be prepared to read other suitable accounting text books
50 hours

Tutorial support includes feedback on assignments and may vary by college according to
local needs and wishes.
50 hours
Directed learning
100 hours

Working through the course text and completing assignments as required will take up the
bulk of the learning time. In addition students are expected to engage with the tutor and
other students and to undertake further reading using the web and/or libraries.
22
13.1.3 Economics for Business Syllabus
Unit Title
Economics for Business
Unit Code
EB-0605
Level
4 Diploma
Credits
20
Unit Leader
BF
Pre-requisites
This unit examines the main concepts of economic theory and their importance within a business
framework. Throughout the unit the emphasis will be on the applicability of business and the external
circumstances under which business operates. The aim is to provide the necessary knowledge, tools
and understanding of economics as a basis for the study of business.
The Nature and Scope of Economics
The development of economic society
The economic problem: scarcity choice and opportunity cost
Alternative economic systems
Production
The economic background to production
Specialisation and the division of labour
Business organisations
Factors of production
The scale of production and economies of scale
The location of production
The Theory of Price Determination
Demand
Supply
Price determination
Concept of elasticity
Applications of the demand and supply model
Market Structures
Competitive markets the institutions where price is decided
Monopoly
Oligopoly
Imperfect competition (monopolistic competition)
Public policy towards competition
Factor Markets and Rewards to Factors
Rewards to factors: distribution theory
23
Land and rent

Labour and wages
Capital and interest
Entrepreneurship and profit
Economic rent
Market Failure
Market imperfections
Externalities
Public goods and merit goods
Imperfect information
Dealing with market failure
Money and Banking
Functions of money
Financial institutions
Central banking
Macroeconomics
Basic national income accounting
Use of national income statistics
Economic policy
Circular flow analysis
Consumption, savings and investment
National income equilibrium
Multiplier and accelerator
Unemployment and Inflation
Types of unemployment
Costs of unemployment
Causes of inflation
Costs of inflation
Economic Policy Instruments
Taxation, government spending and budgets
Fiscal policies
Money and monetary policy
Supply side measures and privatisation
International Trade
Absolute and comparative advantage
The principle of free trade
Protection types and causes
Free trade, customs unions and single markets
The European Union and other free trade areas
GATT and WTO
24
Balance of trade and payments

Dealing with balance of payments problems
Globalisation and International Monetary Issues
Exchange rate determination
Fixed and floating exchange rate systems
Trade and economic development
Transnational enterprises
Globalisation
1.
Demonstrate an understanding of the main economic theories about the firm and its market.
2.
Critically evaluate the usefulness of these theories in understanding the operation of business.
3.
Demonstrate knowledge of the relationship between economics and management.
Knowledge &
Understanding
Analysis
Synthesis
/Creativity
Evaluation
Interactive &
Group Skills
Selfappraisal/
Reflection
on Practice
1-3
Planning and
Management of
Learning
Problem
Solving
Communication
& Presentation
Practical/Psycho
-motor Skills
Other skills
(please
specify):

outcomes:
experience.
Weighting:
100%

Main Text
Economics: A background text, Forster, B. and Whitehead, G., ICM
Student Handbook for Economics: A background text, Forster, B. and Whitehead, G., ICM
Alternative texts and Further Reading
Business Basics in Economics for first year degree students, BPP Publishing
Essentials of Economics, Sloman, J., Prentice Hall
25
50 hours

50 hours
Directed learning
100 hours

26
13.1.4 Numeracy & Statistics Syllabus
Unit Title
Numeracy & Statistics
Unit Code
NS-0605
Level
4 Diploma
Credits
20
Unit Leader
GW
Pre-requisites
The aims of this unit are to equip students with the necessary skills to interpret information, carry out
calculation and interpret the results of that information and later, to equip students with some of the
analytical skills that are relevant to the study of Accounting & Finance as a whole.
Using a Calculator
Approximations
Estimation
Degrees of accuracy
The keys of a calculator
Standard form
Fractions
Types of fraction
Equivalent fractions
Operations involving fractions
The conversion between fractions and decimal fractions
Ratio and Proportion
Ratio
Division in a given ratio
Direct proportion
Scale diagrams and models
Measurement
Metric and imperial units
Conversion between metric and imperial units
Percentages
Percentages
Finding a percentage of an amount
Increasing and decreasing an amount by a given percentage
Expressing one quantity as a percentage of another
Wages and Salaries
Basic pay
27
Overtime rates
Commission
Piecework
Deductions from pay
Travel
Foreign currency
Time
Timetables
Sampling, Surveys, Questionnaires
Surveys
Censuses
Samples
Sampling methods
Bias
Questionnaires
Pilot surveys
Hypothesis testing
Classification and Tabulation of Data
Tabulation
Classification of data
Tally charts
Frequency tables
Statistics on Display
Pictorial representation of data
Pictograms
Bar charts
Pie charts
Line graphs
Frequency polygons
Drawing inferences from diagrams
Averages and Range
The arithmetic mean
The mode
The median
The use of mean, mode and median
The mean and median of a frequency distribution
Range
Cumulative Frequency
The cumulative frequency curve (or ogive)
The median
28
The interquartile range

Percentiles
Probability
Introduction
Probability from theory and experiment
Simple probabilities
Simple laws of addition
Possibility space
Networks and Decision Trees
Networks
Decision trees
Algebra
The basics of algebra
Indices
Brackets
Common factors
Equations
Harder equations
Trial and improvement
Flow diagrams
Sequences
Formulae
Graphs
Graphs and curves
The interpretation of graphs
Graph plotting
Conversion graphs
Cartesian coordinates
Straight line graphs
Gradients and intercepts
Geometrical Shapes
Lines and angles
Polygons
Circles and angles
Tessellations
2D representation of 3D objects
29
Mensuration
Perimeters of polygons
Area
The circumference and area of a circle
Volume
Time and Travel Graphs
Distance-time graphs with straight lines
Distance-time graphs with curves
Velocity-time graphs
Growth and decay
Further Algebra
Simultaneous equations
Inequalities
Removing brackets
Rearranging formulae
1.
Identify appropriate types of quantitative information and their sources.
2.
Rationalise and structure that information.
3.
Use and analyse information that is presented in numerical form in an appropriate method to
extract all relevant trends, patterns and points of importance.
4.
Present the results and data informative and attractive manners including in diagrammatic form
to clients, partners and business colleagues.
Knowledge &
Understanding
Analysis
Synthesis
/Creativity
Evaluation
Interactive &
Group Skills
Self-appraisal/
Reflection on
Practice
1-3
3,4
1,2,3
Planning and
Management of
Learning
Problem
Solving
Communication
& Presentation
Practical/Psycho
-motor Skills
Other skills
(please
specify):
1-4

outcomes:
experience.
Weighting:
100%
30

Main Text
Business Essentials Business Maths: Study Text, BPP Learning Media
50 hours

50 hours
Directed learning
100 hours

31
13.1.5 Accounting II Syllabus
Unit Title
Accounting II
Unit Code
ACII-0605
Level
5 Diploma
Credits
20
Unit Leader
MJ
Pre-requisites
The central aim of this module is to build on units covered in Bookkeeping (previously Accounting I)
to enable students to develop their understanding of accounting principles and practice applied in
planning, control and decision making so that they can begin to interpret the information available for
their own use and to prepare, organise, summarise and present financial and management
information/reports.
Financial Resources and Business Planning
Financial resources
The role of the accountant
The Construction of Financial Statements
Calculating profits
Adjustments
Capital transactions
Partnership accounts
Company accounts
Cash flow statements
Accounts of clubs and societies
The Provision of Financial Information
Accounting ratios and preparing reports / SSAPs & FRSs
Planning and Decision Making Accounting for Costs
Manufacturing accounts
Further Accounting Issues
Control accounts
The trial balance, journal and suspense accounts
Incomplete records
The extended trial balance
Note: This paper follows on from Accounting, and may appear to repeat some of the syllabus areas
covered in Accounting. The Examiner wishes to point out that any such topics will typically be
examined at a higher level in the Accounting II examination paper. The Examiner also reserves the
right to set questions in Accounting II on topics from the Accounting paper.
32

1.
Demonstrate understanding of the interplay between resources and the role of the accountant.
2.
Explain the construction and application of a variety of financial statements.
3.
Explain a variety of accounting principles and practices applied in planning, control and decision
making.
4.
Interpret the information to prepare, organise, summarise and present management

information/reports.
Knowledge &
Understanding
Analysis
Synthesis
/Creativity
Evaluation
Interactive &
Group Skills
Self-appraisal/
Reflection on
Practice
1-4
1-4
2-4
1,4
1-4
Planning and
Management of
Learning
Problem
Solving
Communication
& Presentation
Practical/Psycho
-motor Skills
Other skills
(please
specify):
2-4

outcomes:
experience.
Weighting:
100%

Main Text
Frank Woods Business Accounting 1, Wood, F. & Sangster, A., Pitman
Foundations of Business Accounting, Dodge, R., Chapman & Hall
50 hours

50 hours
Directed learning
100 hours

33
13.1.6 Business Law Syllabus
Unit Title
Business Law
Unit Code
BL-0616
Level
5 Diploma
Credits
20
Unit Leader
IC
Pre-requisites
This unit aims to introduce the student to a study of the law in the business environment. It introduces
sources of law and legal method, business organisations and legal relationships, contracts including
the supply of goods and services, agency agreements and civil wrongs in the business environment
including negligence and nuisance.
An understanding of the rights and responsibilities of organisations is an essential requirement in the
study of business operations at home and those involved in international business transactions and
trade.
Contracts
Formation of Contract
What is a contract?
The intention to create legal relations
Offer
Termination of an offer
Acceptance
Agreement without offer and acceptance
The nature of consideration
Executory, executed and past consideration
Sufficiency of consideration
Privity of contract
Terms of Contract
The terms of contract
Incomplete contracts
Conditions and warranties
Oral evidence relating to contracts in writing
Representations and contract terms
Implied terms
The required form of contracts
Exclusion clauses
The Unfair Contract Terms Act 1977
The Unfair Terms in Consumer Contracts Regulations 1994
34
Vitiating Factors
Contractual capacity
Mistake
Misrepresentation
Duress
Undue influence
Void and illegal contracts
Discharge of Contract
How a contract comes to an end
Performance
Agreement
Breach of contract
Frustration
Remedies available for breach of contract
Damages
Action for the price
Equitable remedies
Limitation to actions for breach
Quasi-contract
Agency
The creation of agency
The duties of an agent
The rights of an agent
The authority of an agent
Liability of the parties
Agents acting for undisclosed principals
Termination of agency
Special types of agent
Sale of Goods
Definition of a Contract for the Sale of Goods
The Sale of Goods Act 1979 and the relevant changes made by the Sales and Supply of
Goods Act 1994 (s14) and the relevant changes made by the Consumer Rights Act 2015, in
particular chapters 2 and 3 and the impact on sections 12, 13, 14 and 18 of the 1979 Act
Types of goods
The price
Time of performance
Seller's title
Description of the goods
Sale by sample
Satisfactory quality and fitness for purpose
35
Passing of property and risk

Nemo dat quod non habet
Delivery
Acceptance and rejection
Remedies of the parties, Romalpa clauses
The Supply of Goods and Services Act 1982
Consumer Credit and Protection
Consumer Credit
Forms of consumer credit
What is a regulated agreement?
The classification of regulated agreements
The protection of debtors
Lenders liability
Termination of credit agreements
Extortionate credit bargains
Consumer credit licensing, advertising and canvassing
Credit cards
Consumer Protection
Consumer protection
Trade descriptions
Consumer safety
Product liability
Tort and Negligence
Tort
Tort and other wrongs
Wrong and damage distinguished
Remoteness of damage
Vicarious liability
Strict liability
Defences to an action in tort
Contributory negligence
Remedies in tort
Conversion
Nuisance
Defamation
Definition
Libel and slander
Action and defences
36
Negligence
Negligence requirements of
Duty of care
Breach of duty of care and consequential damage
Res ipsa loquitur
Consequential harm
Negligent mis-statement
Professional negligence
Nuisance
Definition
Differences between public and private nuisance
Defences and remedies
Defamation
Definition
Differences between libel and slander
Defences and remedies
Company Law
The Nature of a Company
The company as a legal entity
The veil of incorporation
Companies and partnerships
A company's liability in tort and crime
Public and private companies
Holding and subsidiary companies
Formation of a Company
Promoters and pre-incorporation contracts
Registration procedures
Commencement of business
Company contracts
Memorandum and Articles
Purpose and contents of the memorandum
The company name
Registered office
Objects
Articles of association
Alteration of the articles
The memorandum and articles as contracts
Meetings
Types of meeting
37
Convening a meeting
Proxies
Types of resolution
The assent principle
Liquidations and Other Insolvency Procedures
Methods of dissolution
Liquidations
Compulsory liquidation
Voluntary liquidation
Liquidation committee
Contributories
Powers of liquidators
Duties of liquidators
Alternatives to liquidation
Administration orders
Voluntary arrangements
Directors
Appointment
Shareholdings
Termination of office
Disqualification
Powers and dealings
Partnerships
Definition
Formation of
Types of partners
Agency of partners liability of partners for firms debts
Dissolution of partnership
Limited Partnership Act 1907
Limited Liability Partnership Act 2000
1.
Explain the law making process.
2.
Identify the legal issues in a variety of business situations.
3.
Analyse and apply the legal rules to resolve factual problem situations.
4.
Demonstrate an appreciation of the British and European perspectives.
38

outcomes:
experience.
Weighting:
100%

Main Text
Business Law, Abbott, Pendlebury and Wardman, 8th Edition, (South Western)
Essentials of Business Law, Ewan MacIntyre, (Pearson)
Business Law, Keenan and Riches, 8th edition (Pearson)
50 hours

These interactive sessions will be used to discuss concepts and allow students to
present findings.
50 hours
Directed learning
Advance reading and preparation / Background research / individual and group
preparation for seminars.
100 hours

39
13.1.7 Computer Appreciation & Applications Syllabus
Unit Title
Computer Appreciation & Applications
Unit Code
CAA-0605
Level
5 Diploma
Credits
20
Unit Leader
MJ
Pre-requisites
Overview
This paper is incorporated into many programmes to provide a common computer appreciation
element now expected with business courses.
Centres should be attempting to instruct students in the latest developments. As computing develops
and new features become common, so minor inclusions will be added (e.g. range of computer CD
devices). Deep technical details are not expected although it must be pointed out that student
performance in past papers suggests that superficial coverage in particular areas often results in
student misconceptions.
Candidates should have an appreciation of how hardware/software is used and works without
detailed technical knowledge (e.g. Optical Character Reading reflected laser light converted to
binary signals OCR recognition software needed to convert the bit-map image into words by
comparison with stored patterns). Practical experience of the use of common general-purpose
packages (word processing, database, spreadsheet etc.) is essential. A significant part of the paper
will test these.
Appreciation of uses made in general of computers across business and associated
industries
General appreciation of operating a PC
Simple practical experience in using standard packages such as word processing, databases
and spreadsheets
Hardware and Data
Clear distinction between data and program, data and options/parameters, programmer and
user
General configuration of a computer and components of the CPU (ALU, memory, control)
Directions of data flow
Types of memory (ROM, RAM, cache, video)
Features of a modern PC
Input devices general survey with emphasis on use rather than how the device works
OCR, OMR, MICR devices, bar code reader, types of keyboards, optical scanner, digitiser,
voice input device, ATM, touch screen, mouse
Distinction between uses of keyboard and mouse
output devices range of current printer types (laser, dot matrix, ink jet etc.) relative
speeds/costs/quality VDU, plotters, microfilm
For a given application, select the most appropriate input/output devices or method of data
capture
40
Data validation definition and purpose

Identify validation possible with particular data
Check digits
Data types integer, decimal, text/character, logical, date, currency etc.
The need to define data by type
Business Applications
Accounts
The component parts of an accounts package
Typical input and output documents
Stock control and Its purpose
Typical input and output data
Contents of the stock file
Sales and concept of customer, sales orders, purchase orders and supplier files (and stock
file), and contents of these files
Concept of cross-referencing (customer number linking sales order with customer file)
General appreciation of who would supply input data and use output data and why (e.g.
stores clerk would use a re-order list to place orders with suppliers for restocking)
Files and File Access
Magnetic and optical storage devices and media their limitations
Definitions of file, record and field and examples taken from particular situations
File organisation defined as organisation of records on a file
Consideration of serial, sequential and indexed sequential organisation
The stages of accessing a particular record from serial, sequential or indexed sequential files
Contents of a particular file fields, data types, sizes, purpose of being on the file
Concept of master and transaction file
System diagram for a general update of a master file using a transaction file
Security of data files
Backups, environmental conditions, restricted access, administrative controls
Distinction between different types of files program, data, text, parameter files
Software
The role of the operating system in controlling the computer
Basic features of an operating system (command or GUI)
Distinction between general purpose software (e.g. database) and special purpose software
(e.g. payroll)
Examples of special purpose packages
Word processing options available / how to use them (in general terms) / margins, fonts,
special effects (underline/centre/bold etc.), spell check, grammar check / standard phrases /
inclusion of graphics
Databases how to create a new file, add records, edit records, delete records, selective
search by particular criteria, rearrange data, produce reports
41
Spreadsheets formatting a model (decimal places, alignment, extra rows/columns etc.) /

adding simple formulae / simple functions such as sum / average / replicating a formula /
absolute and relative addresses
Graphics features available in graphics/drawing/CAD package / standard shapes / moving,
enlarging, rotating, stretching, colouring, hatching, dimensioning, layering
Systems and Programming
Brief review of system life cycle
Methods of fact finding
An overview of the role of the analyst to investigate, design and supervise installation of a
new system
An overview of the role of the programmer to convert a systems specification into a
program by devising a logical structure, coding into a language, testing and documenting
Distinction between development programmer and maintenance programmer
Distinction between high and low level languages
Brief survey of common high level languages and typical uses
People, Computers and Society
Brief overview of tasks performed by computing personnel data processing manager,
systems analyst, programmer, ancillary staff/data input clerks
Social effects of computers changes in lifestyle, changes at work, need for training, crime
and crime prevention, data protection acts treated in outline
Communications
Spread of networks reasons and advantages
Data transmission
Differences between LAN and WAN
Electronic mail using a providers central system
Outline of Internet feature
1.
Describe and differentiate between a range of programme applications and their uses.
2.
Demonstrate a general appreciation of operating a PC.
3.
Explain the use of standard packages such as word processing, databases and spreadsheets.
4.
Explain the meaning and use of a variety of computer related terminology.

outcomes:
experience.
Examination Note: As computing develops and new features become common, so minor inclusions
will be added (e.g. range of computer CD devices). Deep technical details are not expected although
it must be pointed out that student performance in past papers suggests that superficial coverage in
particular areas often results in student misconceptions.
42

Weighting:
100%

Main Text
Computer Science, 5th edition, French, C.S., Continuum
50 hours

50 hours
Directed learning
100 hours

43
13.1.8 Cost Accounting Syllabus
Unit Title
Cost Accounting
Unit Code
CA-0605
Level
5 Diploma
Credits
20
Unit Leader
KE
Pre-requisites
This module aims to develop the necessary skills and knowledge base to maintain a sound system
for classifying and recording cost accounting information for stock valuation, profit measurement, and
for assisting management in the profitable operation of a business.
Introduction and Materials
What is costing?
Framework
Classification and coding
Purchasing, reception and storage
Stock recording and inventory control
Pricing issues and stock
Labour and Overheads
Remuneration methods
Recording, costing and allied procedures
Overheads
Cost accounts
Costing Methods
Introduction
Job and batch
Contract
Operation and service
Process
Joint and by-product
Planning, Control and Decision Making
Cost behaviour
Marginal and absorption costing
Short run decision making
B E analysis
Capital investment appraisal
44
Budgets and Standards

Budgets
Introduction to standards
Material, labour and overhead variances
Sales and standard marginal costs variances
Activity-based costing
1.
Explain the role of cost and management accounting in the management process.
2.
Describe and demonstrate how different concepts are used for identifying costs according to the
purposes for which those costs are needed.
3.
Explain and demonstrate the Cost-Volume-Profit model and the limitations of its use.
4.
Describe and critically evaluate the different costing systems that operate in organisations.
5.
Describe and demonstrate the role of budgeting within the planning process.
6.
Explain how a standard costing system operates and prepare variances.
Knowledge &
Understanding
Analysis
Synthesis
/Creativity
Evaluation
Interactive &
Group Skills
Selfappraisal/
Reflection
on Practice
1,6
2-6
2-6
Planning and
Management of
Learning
Problem
Solving
Communication
& Presentation
Practical/Psycho
-motor Skills
Other skills
(please
specify):
1-6
2-6
2-6

outcomes:
experience.
Weighting:
100%

Main Text
Costing, Lucey, T., Continuum
Cost Accounting, Glautier, M. & Underdown, B., Pitman
Finance & Accounting Giles, R. & Capel, J., Macmillan
45
50 hours

50 hours
Directed learning
100 hours

46
13.1.9 Accounting III Syllabus
Unit Title
Accounting III
Unit Code
AC3-0605
Level
6 Diploma
Credits
20
Unit Leader
MJ
Pre-requisites
Accounting II

The aim of this unit is to broaden students understanding of different accounts and to develop their
ability to interpret accounts and report information in line with accepted accounting practices.
Special Accounts
Joint ventures
Bills of exchange
Consignment accounts
Branch accounts
Hire purchase accounts
Partnership dissolution
The issue of shares
Contract accounts
Company Accounts
Taxation in accounts
Published accounts profit & loss; balance sheet; accompanying notes / cash flow
statements
Regulatory Framework
Introduction
The ASB / SSAPs and FRSs
Interpretation of Financial Statements
Accounting ratios
Group Accounts
Introduction
Inter-company dealings indebtedness and unrealised profits in stock
Consolidated balance sheet
Consolidated profit and loss
Associated companies
Issues in Financial Reporting
Alternatives to historic cost accounting
Social accounting
Accounting as an information system
47

1.
Distinguish between a range of accounts and their applications.
2.
Understand and apply a variety of accounting ratios.
3.
Demonstrate awareness and understanding of regulatory frameworks at play.
4.
Explain and apply different forms of financial reporting.
Knowledge &
Understanding
Analysis
Synthesis
/Creativity
Evaluation
Interactive &
Group Skills
Selfappraisal/
Reflection
on Practice
1-4
2,4
1-4
Planning and
Management of
Learning
Problem
Solving
Communication
& Presentation
Practical/Psycho
-motor Skills
Other skills
(please
specify):
1-4
1-4
1-4

outcomes:
experience.
Weighting:
Assessment One
0%
Assessment Two
0%
100%

Main Text
Financial Accounting, Jennings, A.R., DP Publications
Spicer & Peglers Bookkeeping & Accounts, Gee, P., Butterworth
Accounting & Financial Reporting Standards, Black, Geoff, DP Publications
48
50 hours

50 hours
Directed learning
100 hours

49
13.1.10 Auditing & Taxation Syllabus
Unit Title
Auditing & Taxation
Unit Code
AT-0605
Level
6 Diploma
Credits
20
Unit Leader
JWC
Pre-requisites
The aims of this course are to give the student a clear understanding of the role of the auditor and two
major forms of taxation, namely income tax and corporation tax. It considers the auditors function,
duties, responsibilities and liabilities and the professional environment wherein the auditor works,
including standards to be adhered to as well as the functional areas of taxation.
Introduction to Auditing
The why of auditing
Auditing and The Companies Act
Rights and duties
The Companies Act
Accounting records
Accounting requirements of the Companies Act
Professional Rules
Standards and guidelines
Accounting standards
Professional conduct
Letters of engagement
The Modern Audit
Stages
Timing
Objectives
The Conduct of the Audit
Accounting systems
Internal controls
Audit testing
Analysis review techniques
Working papers
Reports to directors
Errors and frauds
50
Audit Evidence
Evidence
Risk
Methods
Reliance on other specialists
Review of Financial Statements
Final review
True and fair view
Representations by management
The Auditors Report
Auditors report
Qualified reports
Post balance sheet events
Going concern
Planning and Control of Audits
Planning
Quality control
Auditors and The Law
Auditors liability
Unlawful acts of clients and their staff
Income Tax
General principles
Administration
Personal allowances
Charges on income and interest paid
PAYE
Schedule E
Schedule A
Schedule D
Personal investment
Corporation Tax
General principles
Capital allowances
ACT
1.
Explain the roles, duties and functions of the Auditor.
2.
Discuss professional processes and procedures to be followed by auditors.
3.
Differentiate between and apply a variety of taxation methods.
51
The numbers in the boxes below show which of the above unit learning outcomes are related to
particular cognitive and key skills:
Knowledge &
Understanding
Analysis
Synthesis
/Creativity
Evaluation
Interactive &
Group Skills
Self-appraisal/
Reflection on
Practice
1,3
1,2
2,3
Planning and
Management of
Learning
Problem
Solving
Communication
& Presentation
Practical/Psycho
-motor Skills
Other skills
(please
specify):
1-3
1-3
Learning and teaching methods/strategies used to enable the achievement of learning outcomes:
Learning takes place on a number of levels through lectures, class discussion including problem review
and analysis. Formal lectures provide a foundation of information on which the student builds through
directed learning and self managed learning outside of the class. The students are actively encouraged
to form study groups to discuss course material which fosters a greater depth learning experience.
Note: Examination Format - The Auditing questions will account for a minimum of 70% and a maximum
of 75% of the marks available. The Taxation questions will account for a minimum of 25% and a
maximum of 30% of the marks available. The Taxation questions will be based on UK taxation.
Weighting:
Assessment One
0%
Assessment Two
0%
100%
Note: Examination Format The Auditing questions will account for a minimum of
70% and a maximum of 75% of the marks available. The Taxation questions will
account for a minimum of 25% and a maximum of 30% of the marks available. The
Taxation questions will be based on UK taxation.
Main Text
Auditing, Millichamp, A.H., Thomson Learning
Taxation & Self Assessment, Rowes, Peter, Thomson Learning
50 hours

50 hours
Directed learning
Advance reading and preparation / Class preparation / Background reading / Group study /
Portfolio / Diary etc.
100 hours

52
13.1.11 Financial Management Syllabus

Unit Title
Financial Management
Unit Code
FM-0605
Level
6 Diploma
Credits
20
Unit Leader
JWC
Pre-requisites
The course examines the theory and practice of corporate financial management, including decisions
company managers make in relation to sources and uses of funds, disclosure and the valuation
implications arising. Where possible, topics will be considered in the context of the local financial
environment and actual business practice.
The Construction of Financial Statements
Company accounts
Cash-flow statements
Using Accounting Information
Accounting ratios
Accounting standards
Management Accounting
Marginal costing
Budgeting
Capital investment appraisal
Sources of Business Finance
Long-term sources of finance
Short-term sources of finance
Mergers and Takeovers
Reasons for growth via horizontal, vertical, or conglomerate integration
Financing of growth
The construction of basic group accounts
Capital Markets
The function of stock exchanges
Share and bond issues
Rights and bonus issues
1.
Have gained an understanding of the main decision areas in corporate finance, the issues
arising and the financial environment in which these decisions are made.
2.
Demonstrate an understanding of the current treatment of investment and financing in

situations of certainty and uncertainty, and have acquired the knowledge and skills to be able
to apply a number of techniques to assist the decision making process.
53
3.
Be able to analyse, interpret and evaluate financial information as discussed in the course
and previous courses.
4.
Have become acquainted with current issues and developments in the area of corporate
financial management.
The numbers in the boxes below show which of the above module learning outcomes are
related to particular cognitive and key skills:
Knowledge &
Understanding
Analysis
Synthesis
/Creativity
Evaluation
Interactive &
Group Skills
1-4
2,3
2-4
1-4
Self-appraisal/ Reflection
on Practice
Planning and
Management
of Learning
Problem
Solving
Communication &
Presentation
Other skills
(please
2-4
1-4
2-3
1-4

outcomes:
experience.
Weighting:
100%

Note: There is no single textbook that covers the syllabus. Finance & Accounting by Richard Giles
can be used as a basic source book but must be supplemented by further reading from websites or
textbooks such as Accounting for Non-Accounting Students (J R Dyson) and Business Accounting (F
Wood).
Main Text
Finance & Accounting, Giles, R., ICM
Further Reading
Accounting for Non-Accounting Students, Dyson, J.R., Prentice Hall
50 hours

50 hours
Directed learning
100 hours

54
13.1.12 Management Theory & Practice Syllabus
Unit Title
Management Theory & Practice
Unit Code
MTP-0605
Level
6 Diploma
Credits
20
Unit Leader
GW
Pre-requisites
This module is designed to develop the knowledge and understanding students have of business and
management by exploring how management theory and practice has responded to the development
of economic and social activity. Issues to do with globalisation, international competition, international
marketing, translational corporate strategy, and international regulatory institutions are examined with
respect to their implications for the management of organisations.
Part One: Management Theory
Introduction
Developments in management theory 1910-2000
Definitions of management
Classical Theories of Management
The search for principles of management
Max Weber and the idea of bureaucracy
Human Relations and Social Psychological Theories
Motivation the early theorists
Motivation later theorists
Theories of Leadership and Group Behaviour
Leadership theory and practice
Groups and group behaviour
Systems and Contingency Approaches to Management Theory
Organisation as systems
Contingency approaches to management
Modern Approaches to Management Theory
Modern approaches to management
Part Two: Management in Practice
The Context of Management
Types of business organisation
Developing an organisation culture
Women in management
The international context of management
55
Management Planning
Strategic aspects of management
Objectives, policies and organisational ethics
Performance standards in management
Decision making in organisations
Human resource planning
Work structuring, job design and business process re-engineering
Organising for Management
Organisational structures
Delegation and empowerment
Managing change key concepts
Implementing change organisation development
Communication in organisations
Time management and personnel effectiveness
Control in Management
Controlling performance
Quality standards and management
The role of information technology
Part Three: Functional Management
Marketing Management
The marketing concept competitiveness and the global dimension
The marketing mix product and price
The marketing mix promotion
The marketing mix distribution
Marketing research
Marketing organisation
Customer services and consumer protection
Production Management
Production planning and control
Types of production
Aids to production
New technology in manufacturing
Personnel Management
Human resource management
Recruitment and selection
Employee development and training
Performance appraisal, discipline and grievances
Developing managerial competencies
Stress management and employee counselling
56
Job evaluation
Employee relations and collective rights
Legal aspects of employment individual rights
Financial Aspects of Management
Company accounts
Budgets, forecasts and business plans
1.
Evaluate theories of management and organisations and explain how they fit with the nature of
the managerial task and process.
2.
Explain particular issues faced by small businesses.
3.
Using case examples apply theory and concepts to business strategies from the perspective of
top management and evaluate the concept of competitive advantage.
4.
Critically evaluate the management of organisational conflict and politics.
5.
Articulate and illustrate the potential conflict between profit and social responsibility.
6.
Identify the characteristics of cross-cultural management and critically compare management

styles.
Knowledge &
Understanding
Analysis
Synthesis
/Creativity
Evaluation
Interactive &
Group Skills
Selfappraisal/
Reflection
on Practice
1,6
2-6
2-6
Planning and
Management of
Learning
Problem
Solving
Communication
& Presentation
Practical/Psycho
-motor Skills
Other skills
(please
specify):
1-6
2-6
2-6

outcomes:
experience.
Weighting:
100%
57

Main Text
Management Theory and Practice, 6th Edition, Cole, G.A., Thomson Learning
Management, Bennett, Dr R., Pitman
The Business of Management, Thorrington, D., Prentice Hall
Understanding Organisations, Handy, C., Penguin
50 hours

50 hours
Directed learning
100 hours

58

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