OTHM Level 5 Extended Diploma in Accounting and Business
The OTHM Level 5 Extended Diploma in Accounting and Business is a highly regarded qualification designed to equip students with the knowledge and skills required to thrive in the world of finance and business management. This diploma is tailored for individuals looking to build a strong foundation in accounting practices while gaining a broader understanding of business operations. It is an ideal qualification for those aiming to pursue a career in finance, accounting, or management roles across various industries.
One of the key advantages of the OTHM Level 5 Extended Diploma in Accounting and Business is its comprehensive curriculum. The course covers a wide range of subjects, including financial accounting, management accounting, business law, and corporate governance. Students also gain insights into the dynamics of business strategy, financial management, and risk management, which are essential for making informed decisions in a business environment. This diverse curriculum ensures that learners are well-prepared for the challenges they may face in their careers.
The structure of the diploma allows for flexibility, making it an excellent option for working professionals who want to advance their careers without compromising their current jobs. The qualification is recognized internationally, and it provides a clear progression route to higher education, such as entering the final year of a bachelor’s degree or enrolling in a relevant postgraduate program. This opens doors to further academic and professional growth, including obtaining chartered accountancy qualifications.
In terms of career prospects, the OTHM Level 5 Extended Diploma in Accounting and Business holds significant value in today’s competitive job market. Graduates are equipped with essential skills that are highly sought after by employers, such as analytical thinking, problem-solving, and a solid understanding of both accounting and broader business functions. These skills make graduates ideal candidates for positions in finance departments, audit firms, management consultancy, and other business roles.
Additionally, the diploma emphasizes real-world application, ensuring that students learn theoretical concepts and how to apply them practically. Case studies, real-life business scenarios, and practical assignments are integrated into the learning process, giving students hands-on experience in handling financial reports, analyzing business performance, and making strategic decisions. This practical approach ensures that learners are well-prepared to contribute effectively in their future workplaces.
The OTHM Level 5 Extended Diploma in Accounting and Business offers a well-rounded education that combines accounting principles with essential business skills. It is an excellent choice for individuals aiming to excel in finance and business sectors, providing them with the qualifications, knowledge, and confidence to succeed in various professional roles. By completing this diploma, learners are not only enhancing their career prospects but also setting the stage for continuous professional development.
Don’t wait any longer to unlock your full potential in the world of accounting and business. Enroll in the OTHM Level 5 Extended Diploma today and take the first step towards a rewarding and fulfilling career in finance and business management!
These qualifications are designed for learners who are typically aged 18 and above.
The entry profile for learners is likely to include at least one of the following:
- Relevant Level 3 Diploma qualification or equivalent qualification
- GCE Advanced level in 2 subjects or equivalent qualification
- Mature learners (over 21) with relevant management experience (learners must check with the delivery centre regarding this experience before registering for the programme)
- English requirements: If a learner is not from a majority English-speaking country, they must provide evidence of English language competency.
Mandatory Units
The OTHM Level 5 Extended Diploma in Accounting and Business qualification consists of 12 mandatory units, 240 credits, 2400 hours of Total Qualification Time (TQT) and the recommended Guided Learning Hours (GLH) for this qualification is a minimum of 1200 hours.
To achieve the OTHM Level 5 Extended Diploma in Accounting and Business, learners must achieve 240 credits, of which 120 credits are at Level 4 (6 units) and 120 credits are at Level 5 (6 units).
Level 4:6 Units
Level 5:6 Units
Learning outcomes for OTHM Level 5 Extended Diploma in Accounting and Business
Academic Writing and Research Skills
- Understand the concept and purpose of academic research and writing.
- Understand how to conduct academic research.
- Be able to demonstrate critical thinking skills.
- Understand how to construct a reliable and valid academic argument.
Business and the Economic Environment
- Understand different types of businesses.
- Understand the influence of the internal and external environment on a business.
- Understand how macro-economic factors impact a business.
- Understand how micro-economics factors impact on a business.
Principles of Financial Accounting
- Understand why businesses need to establish financial recordkeeping systems.
- Be able to account for year-end adjustments.
- Be able to prepare financial reporting statements for different types of organisations.
- Understand how professional characteristics and ethical principles are applied and regulated in an accountancy context.
Quantitative Methods in a Business Context
- Be able to use numerical techniques in a business context.
- Be able to construct and use graphs, charts and diagrams for informed decision making.
- Understand how business and management data is used to inform business decision making.
Management Accounting
- Understand the functions of management accounting in business.
- Understand the importance of budgeting, working capital management and accounting for depreciation.
- Be able to calculate standard costs and budget variances.
- Understand how to apply breakeven analysis in different contexts.
Leading and Managing Teams
- Understand leadership and management.
- Understand how teams are developed.
- Understand how to improve individual and team performance.
- Be able to determine own capacity to be an effective leader and manager.
Level 5:6 Mandatory Units
Principles and Concepts of Business Strategy
- Understand the principles of business strategy.
- Understand key business strategy theories and concepts.
- Understand a business’s strategic options.
Financial Management
- Understand the functions of financial management.
- Understand working capital management.
- Understand how capital is structured in a business.
Financial Planning and Control
- 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.
Financial Reporting
- 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.
The Management of Human Resources
- 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.
Business Start-up: Conception to Market
- 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
The OTHM Level 5 Extended Diploma in Accounting and Business is tailored for a wide range of individuals who aspire to excel in the fields of accounting, finance, and business management. This course is particularly suitable for:
- Aspiring Accountants: Individuals who aim to pursue a career in accounting or aspire to become professional accountants can benefit significantly from this diploma program. It provides a solid foundation in accounting principles and practices essential for entry-level accounting roles.
- Business Management Enthusiasts: Those interested in understanding the dynamics of business operations, financial management, and strategic decision-making will find this course invaluable. It equips learners with essential business skills and knowledge necessary for managing organizations effectively.
- Recent Graduates: Graduates from diverse academic backgrounds seeking to enhance their employability and broaden their career prospects in the fields of accounting, finance, or business management can gain valuable insights and credentials through this diploma program.
- Career Switchers: Professionals looking to transition into accounting, finance, or business management roles from other industries can leverage this diploma to acquire the necessary knowledge and skills required for their desired career paths.
- Entrepreneurs and Business Owners: Individuals planning to start their businesses or already managing small enterprises can benefit from understanding accounting principles, financial management techniques, and strategic planning concepts covered in the course.
- Career Advancers: Professionals already working in accounting, finance, or business management roles who seek to advance their careers and take on higher-level responsibilities can enhance their credentials and competencies through this diploma program.
- Individuals Pursuing Further Studies: Those considering pursuing higher education, such as bachelor’s or master’s degrees, in accounting, finance, or business-related disciplines can use this diploma as a stepping stone toward academic progression and specialization.
Future Progression
Upon successful completion of the OTHM Level 5 Extended Diploma in Accounting and Business, learners unlock a myriad of academic pathways, notably including the opportunity to pursue the OTHM Level 6 Diploma in Accounting and Business qualification.
Endorsed and regulated by Ofqual (Office of the Qualifications and Examinations Regulation), this diploma enables learners to qualify for direct entry into Year 3 of a three-year UK Bachelor’s degree program, providing a streamlined route to higher education and professional advancement.
Register Now
FAQs for OTHM Level 5 Extended Diploma in Accounting and Business
