From Apps to Assets – The Digital Backbone of Business – Module 7

Unit 5 – Accounting Principles

Management accounting is a profession that supports management decision-making, planning and performance-management systems. Management accountants provide expertise in financial reporting and control to assist management in the formulation and implementation of an organisation’s strategy by providing appropriate financial information and undertaking related accounts administration.

The overall aim of this unit is to introduce fundamental accounting principles that underpin financial operations and support good and sustainable decision-making in any organisation. Students will develop a theoretical and practical understanding of a range of financial and management accounting techniques.

On successful completion of this unit, students will be able to assist senior colleagues in producing and analysing budgets, drawing up simple financial statements and using financial ratios to interpret performance. Students will also explore wider aspects of accountancy, especially ethics, transparency and sustainability, and gain fundamental knowledge and skills that will enable them to progress to a higher level of study.

Unit 8 – Digital Business in Practice

As businesses across industries digitise their operations and processes, digital skills are highly valued by employers. Developing digital skills – ranging from data analysis to digital design, digital marketing and customer relationship management – is vital for progression in higher education but, crucially, also aids employability in a vast array of roles in the business environment. In today’s world, new technologies play an increasingly important role in the economy and in society.

To remain competitive, businesses need to continually update and upskill their workers’ competence. There is also a responsibility and onus on individuals to keep up to date with the changing digital landscape. In this unit students will explore the impact of a range of digital technologies on the workplace. They will examine how these technologies can support businesses aims and services and allow interaction with customers, for example, to promote their business, to encourage people to visit their e-commerce site, to buy goods or services, to drive and increase sales, and to provide high levels of customer service.

The skills generated through an understanding of the practical and necessary use and application of relevant technologies will enable students to present themselves as being digitally literate to employers and give them the confidence to succeed in applying modern, digital methods.