This topic of the financial management course explores the vital role of the income statement. The income statement determines the financial performance of your business. You also learn how to compile and use the statement effectively.

This topic aims to increase your understanding of accounting principles and practices by solving the following problems:

• How do I measure the financial performance of my business?
• What are the key figures in calculating profitability for my business?
• How do incomes affect the bottom line of my business?
• How do expenses affect the bottom line of my business?
• How is the profit of my business distributed?
• How does the income statement work in practice?

This topic is for current and aspiring entrepreneurs who want an understanding of how to measure the financial performanace of their business and understand the effect of incomes and expenses on their bottom line profit.

Do these questions describe you?

• Do you want a better understanding of how to determine what the financial performance of your business is?
• Do you want to know how to measure your profit and have a prosperous business?
• Do you want to understand the effect of income and expenses on your bottom line profit?
• Do you want to be able to draw up an income statement?
• Do you want to be able to understand what your income statement means?
• Are you doing the finances of your business yourself?
• Do you want to understand how managing financial accounting leads to a prosperous business?
• Are you a strategic decision maker for your business?
• Do you want to remain relevant in an ever-changing world of work?
• Do you want to embrace life-long learning and work towards recognised qualifications?

Then this topic on How to expolore financial performance is for you!

This is an online course with learning material and assignments.  The duration is based on your own pace and motivation.

This time commitment includes working through online content, completing assesments, reflection activities and any additional reading and enrichment activities to translate the content into your current situation.

Every course consists of a series of topics that aim to solve problems you could be facing in your business as an entrepreneur. Each topic contains a number of lessons, each with a variety of activities and resources designed to aid your learning process.

• Work through the content in each lesson
• Take time to complete the progress quizzes to check your understanding
• Explore any additional resources to gain access to valuable sources
• Take time to reflect how you will apply the knowledge in your own business

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You will be awarded a badge for every topic you complete with MyElearning so that you can build up your online learning profile.

Additional Accreditation Options:

The completion of all the relevant topics in this course will provide a delegate with supporting evidence to earn credits towards a different accredited course or skills programmes, such as Business Management, Business Advisory Services and or New Venture Creation on NQF Level 4 and NQF Level 5.

If you are interested to earn credits after completing the programme, you are more than welcome to contact any of the accredited training providers.

Please take note of the following important information with regards to earning credits on the NQF through the RPL (Recognition of Prior Learning) process:

• You will need to complete all the topics of this course to qualify for accreditation.  The completion of the assignments linked to each topic can provide some of the required evidence.
• You will need to register as a learner on the programme through an accredited training provider.
• An Accredited Provider can guide you on the appropriate qualification and the process that you should follow to earn credits that will be relevant for your career path.  You will also receive guidance on compiling your portfolio of evidence.
• The Provider can provide you with the appropriate assessment tools that you will have to complete, in order to be found competent on the credits.
• It will be your responsibility to pay for the additional costs of the provider and the assessments and NLRD (National Learners Records Database) uploads.