Finance
Why Study Finance?
Money makes the world go round. Everyday millions of people are making financial decisions whether that be in their personal life or in a professional setting.
The L2 Financial Studies course offered at Strood Academy allows students to engage in real world application such as calculating tax, dealing with unforeseen circumstances, budgeting, and generating a good credit score. All of which are integral aspects for day to day life and all young adults should be confident and have the ability to manage their finances successfully in order to progress through life.
This subject will equip you with decision-making skills and logic which will enable allow you to develop the ability to quickly and efficiently make sensible, clear headed and informed decisions.
You will develop numeracy skills in Finance to help you handle daily budgeting and forecasting needs which will be useful in all life stages that enter.
Problem solving and presentation skills are developed in those who study Finance – looking at business problems and coming up with solutions.
This course is an excellent route for those wishing to take the Level 3 Diploma in Financial Studies and L3 Business Studies (please see video below), or any business/ financial courses offered by colleges and universities.
Employers greatly value students who enter their industry with a background in Finance.
Key skills developed:
The qualification will enable students to:
develop an understanding of the key content areas and how they relate to each other;
identify, understand and use information from a range of sources;
use appropriate tools to manage a personal budget and apply these concepts to business enterprise;
apply the concept of financial planning to enhance financial literacy and make informed financial decisions;
demonstrate numeracy skills, including the ability to manipulate financial and other numerical data (such as calculating the costs of borrowing and spending) to reflect the conceptual activity of financial mathematics;
communicate ideas and arguments clearly both verbally though classroom discussion and in writing; develop research skills, communication and independent study;
and, develop skills of analysis and evaluation through extended written assessment.
The written components support the students in:
taking an application-focused approach from the outset
integrating knowledge and skills incrementally throughout the course
preparing themselves to apply the full range of their skills and understanding in tackling the case study assessment
gaining sufficient practice in explaining, justifying and evaluating in clear written English.
zoom_1.mp4What will I study?
The Technical Certificate in Finance is a vocational qualification for learners who wish to learn more about financial services, financial products and their application, and finance in business. The qualification provides an enriching and detailed introduction to the world of finance, relating to real-life application while ensuring learning is assessed in a practical and applied manner.
Topics you will study are:
Public finance and the economy, including how these relate to:
o social, political and cultural factors;
o political institutions and processes;
o impacts on individuals, businesses and society.
Financial management, including:
o financial planning;
o budgeting and financial management tools for managing money;
o spending and borrowing.
Employability, enterprise and business, including how these relate to:
o business financial management;
o benefits to, and consequences for, businesses, individuals and society.
How will I be assessed?
(50% extended writing/ 50% unseen paper)
Unit 1: assessed by Non-Examination Assessment, where learners complete an assessment within a specified window. This is a formal assessment that you will be marked and graded on. You will be presented with a detailed real-life financial scenario. Using your knowledge and understanding gained from the learning content in Unit 1, you will have to produce a detailed report to complete this assessment.
It is worth 25% of the available marks for this qualification.
Unit 2: assessed in exactly the same method as unit 1. Unit 2 is assessed by Non-Examination. It is worth 25% of the available marks for this qualification.
Unit 3: the examination will consist of a range of different question types such as multiple choice, short answer questions, and an extended writing section based on a pre-release case study.
It is worth 50% of the available marks for the qualification and is externally assessed by LIBF.
Where can the qualification take me?
Take a look at what you can go on to study in our L3 course at Sixth Form.