Level: Certificate/ Diploma in Financial Studies
- Must have grade C for GCSE Maths and English, and it would be an advantage to have a Level 2 certificate in Personal Finance, though not essential.
- The Certificate in Financial Studies must have been passed before contining study on to the Diploma of Financial Studies (an extra 2 units).
As an applied general study, the Diploma in financial studies (DipFs) explores, in depth, the key concepts of financial capability and how they applied to achieve longer-term financial sustainability. It develops and extends the knowledge and skills required for young people to make informed financial decisions through understanding the risks and challenges involved in personal finance and the importance of effective planning. Through developing core skills of critical analysis and evaluation, and written communication, DipFs provides strong foundations for further study in business and finance- related careers.
Key Content Areas
- Importance of financial capability for immediate and short term, medium –term and long term financial needs.
- Financial services and products, including sources of advice and help
- Borrowing, budgeting, financial planning and cash flow
- The impact on external influences that lead to change
- Maintaining financial sustainability and avoiding long term debt
- Risk and reward in managing personal finance
- The financial services system and financial sustainability and;
- Marketing techniques
Key Skills Developed
- Analyse financial information, financial services products and services and begin to make judgments about suitability for people in different circumstances.
- Understand financial concepts and terminology
- Analyse, evaluate and reflect
- Demonstrate numeracy skills including the ability to manipulate financial and other numerical data;
- Select appropriate data and information to make arguments;
- Structure and communicate ideas logically and coherently; and
- Increase their ability to work independently
The skills and knowledge developed through the Certificate can be extended by taking 2 further units to form the Diploma in Financial Studies. The financially related content of this qualification serves a strong grounding for undergraduate study within the finance sector and business related disciplines, with many students going on to study accounting, business, finance and banking. The Diploma qualification carries up to 140 UCAS points.
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