This topic of the financial management course gives an overview of simple interest vs compound interest as well as present value. It includes how to calculate and assess their effects on your personal decisions and your business.

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

• What is meant with simple interest vs compound interest?
• What is the true cost of financing purchases?
• What is the most beneficial way of saving?
• How do I accurately assess the earning potential of the business?
• How do I actively manage my debt for optimal results?

This topic is for current and aspiring entrepreneurs who want a better understanding of simple interest vs compound interest and value and how they relate to your business.

Do these questions describe you?

• Do you want to equip yourself with the necessary knowledge and practices to make more effective decisions and better manage your finances?
• Do you want to understand the importance of financial instruments in the financial environment?
• Do you want a working knowledge of how interest works?
• Do you want to know the difference between simple interest and compound interest?
• Do you want to know how you can effectively manage your debt?
• Do you want to know the real value of your investments?
• Are you doing the finances of your business yourself?
• 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 of How to grasp simple interest vs compound interest to flourish 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

Basic Requirements

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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.