Qualification Structure

The OTHM Level 5 Diploma in Accounting and Business is an Ofqual-regulated qualification accredited on the Regulated Qualifications Framework (RQF). The qualification carries 120 credits, with a Total Qualification Time (TQT) of 1,200 hours and recommended Guided Learning Hours (GLH) of a minimum of 600 hours.

Assessment for the OTHM Level 5 Diploma in Accounting and Business is assignment-based only. Learners demonstrate their knowledge, understanding and application of accounting and business principles through written assignments designed around the learning outcomes of each unit. This approach enables learners to develop analytical, problem-solving and decision-making skills while applying theoretical concepts to relevant accounting and business contexts.

To achieve the qualification, learners must successfully complete all 6 mandatory units.

Core Study Units

1. Principles and Concepts of Business Strategy

Learning Outcomes:

• Understand the principles of business strategy.
• Understand key business strategy theories and concepts.
• Understand a business’s strategic options.

2. Financial Management

Learning Outcomes:

• Understand the functions of financial management.
• Understand working capital management.
• Understand how capital is structured in a business.

3. Financial Planning and Control

Learning Outcomes:

• Understand the functions of financial planning and control.
• Understand sources of business finance and the techniques used to develop investment strategy.
• Understand global financial risk management.
• Understand the principles of corporate governance and how they support effective financial planning and control.

4. Financial Reporting

Learning Outcomes:

• Understand the purpose of financial reporting and budgets.
• Understand how to report on the outcome of control accounts.
• Be able to report the outcome of an investment appraisal.
• Be able to report on the financial performance of a business.

5. The Management of Human Resources

Learning Outcomes:

• Understand the purpose and objectives of human resource management.
• Understand the functions of human resource management.
• Understand how internal and external factors impact the human resource management function.
• Understand modern development in human resource management function in a business.

6. Business Start-up: Conception to Market

Learning Outcomes:

• Understand the fundamental requirements for starting a new business.
• Understand sources of support available to new businesses.
• Be able to create a business plan for a new business to gain stakeholder support.

Who Is This Qualification For?

The OTHM Level 5 Diploma in Accounting and Business is designed for learners who want to develop advanced knowledge and practical competence in accounting, financial management and business operations. It is particularly suitable for:

• Aspiring accountants seeking to strengthen their knowledge of financial reporting, financial management and business strategy.
• Accounting and finance professionals looking to broaden their understanding of how accounting supports wider business decision-making.
• Business managers and supervisors who need stronger financial and strategic skills to contribute effectively to organisational performance.
• Entrepreneurs and business owners who want to develop competence in financial planning, business strategy, budgeting and business start-up.
• Finance and business graduates seeking a structured Level 5 qualification to enhance their academic and professional development.
• Professionals changing careers who want to build a recognised qualification covering both accounting and business disciplines.
• Learners planning further study who want to progress from Level 5 study towards higher-level qualifications in accounting, finance, business or related fields.

The qualification is especially valuable for learners who want to combine accounting expertise with broader business knowledge, enabling them to understand financial information, evaluate business performance and contribute to informed management and strategic decisions.

Career Opportunities

The OTHM Level 5 Diploma in Accounting and Business develops learners for professional and managerial roles across accounting, finance and business environments. The qualification builds practical knowledge of financial management, financial reporting, business strategy, financial planning and control, human resource management, and business start-up, enabling learners to analyse financial information, support business decisions, manage financial resources, and contribute effectively to organisational performance. It is particularly relevant to sectors such as accounting and finance, banking, professional services, retail, manufacturing, healthcare, logistics, technology, education, and consultancy, providing a strong foundation for career development and further academic or professional progression.

Future Progression

The OTHM Level 5 Diploma in Accounting and Business provides learners with a strong foundation for career development in accounting, finance, business management and related commercial roles. The qualification supports progression across industries such as banking, accounting, professional services, retail, manufacturing, healthcare, logistics, technology, education and consultancy, where sound financial and business knowledge is highly valued.

Academically, learners may progress to relevant Level 6 or Level 7 qualifications, undergraduate or postgraduate study, including degrees or specialist programmes in accounting, finance, business management and related disciplines, subject to the entry requirements of the receiving institution. The qualification also supports continued professional development and lifelong learning.

Professionally, this diploma can support progression into roles such as Assistant Accountant, Accounting Technician, Finance Officer, Accounts Assistant, Management Accounts Assistant, Business Administrator, Finance Administrator, Credit Controller, Junior Business Analyst, and Business Development Executive. The knowledge developed in financial management, financial reporting, business strategy, financial planning and control, human resource management, and business start-up enables learners to contribute effectively to financial operations, business planning, organisational performance and informed management decision-making.