Unit 15:  Financial Management

Unit code                           M/508/0527

Unit level                           QCF Level 5/ NFQ Level 6/7

Credit value                       15


The overall aim of this unit is to introduce students to basic financial management principles and strategies. Students will consider the importance of maximising shareholder wealth and long term growth. The main focus of this unit is to introduce students to, and develop their knowledge of, financial management decision-making and how this is used to support sustainable organisational performance. Students will also develop an appreciation of the role of a management accountant within a financial management system.

On successful completion of this unit students will be in a position to contribute effectively to the financial management function of an organisation. They will be able to support senior management accountants in reaching decisions which will impact on the financial performance of an organisation. In addition, they will have the fundamental knowledge and skills of financial management to progress onto a higher level of study.

Learning Outcomes

By the end of this unit a student will be able to:

  1. Apply different approaches used to support effective decision-making.
  2. Analyse financial management principles which are used to support effective financial strategies.
  3. Evaluate the role of management accountants and accounting control systems.
  4. Evaluate ways in which financial decision-making supports sustainable performance.