OTHM Level 5 Diploma in Accounting and Business

The OTHM Level 5 Diploma in Accounting and Business is an advanced qualification designed for individuals aiming to build a successful career in accounting, finance, and business management. This diploma provides a comprehensive understanding of business operations, accounting practices, and financial management. It is ideal for those looking to enhance their practical skills and theoretical knowledge in accounting and business, preparing them for higher-level roles or further academic progression.

The course is tailored for individuals who wish to advance their careers in accounting, finance, or business administration, or for those who are already working in the field and seek to formalize and improve their expertise.

The OTHM Level 5 Diploma in Accounting and Business offers an in-depth exploration of core accounting and business management concepts. The course is structured to equip learners with the practical skills and theoretical knowledge required for roles in accounting, financial analysis, business management, and decision-making processes. The course is designed to help students understand the technical aspects of accounting while also focusing on business operations, strategy, and financial decision-making.

Key elements of the course include financial accounting, management accounting, business economics, and business strategy. It is a flexible program suitable for both full-time and part-time learners, with online, classroom, or blended learning options available.

Course Study Units

The OTHM Level 5 Diploma in Accounting and Business consists of 6 mandatory units for a combined total of 120 credits, 1200 hours Total Qualification Time (TQT) and 600 Guided Learning Hours (GLH) for the completed qualification.

Mandatory units:

  • Principles and Concepts of Business Strategy (20 credits)
  • Financial Management (20 credits)
  • Financial Planning and Control (20 credits)
  • Financial Reporting (20 credits)
  • The Management of Human Resources (20 credits
  • Business Start-up: Conception to Market (20 credits)

Course Learning Outcomes

Upon successful completion of the OTHM Level 5 Diploma in Accounting and Business, students will have developed the following key skills and knowledge:

  • An in-depth understanding of financial accounting and the ability to prepare financial statements.
  • Proficiency in management accounting techniques and the application of financial analysis to improve business performance.
  • A solid grounding in business economics and the impact of economic factors on business operations.
  • The ability to assess business law, legal frameworks, and ethical considerations within a business context.
  • A comprehensive understanding of business strategy, including the ability to create and implement strategic business plans.
  • Strong financial management skills to effectively plan and manage the finances of a business.
  • Knowledge of corporate governance principles and risk management techniques to protect and grow a business.

Who Is This Course For?

The OTHM Level 5 Diploma in Accounting and Business is ideal for individuals who want to advance their careers in accounting, finance, or business management. The course is designed for:

  • Individuals currently working in or aspiring to work in accounting or business management roles.
  • Those with a foundation in accounting or business looking to gain deeper knowledge and practical skills in the field.
  • People who want to formalize their knowledge with an accredited qualification and enhance their career prospects.
  • Entrepreneurs and small business owners looking to gain skills in financial management and business operations.

It is also suited for those who are planning to pursue higher-level qualifications such as the OTHM Level 6 Diploma in Accounting and Business or further academic studies in related fields.

Course Future Progression

Graduates of the OTHM Level 5 Diploma in Accounting and Business have a range of opportunities for further progression in both their careers and education:

  1. Career Progression
    The qualification opens up career paths in various accounting, finance, and business management roles. Graduates can pursue positions such as accountant, financial analyst, business consultant, financial controller, or business manager. This diploma also provides the foundation for higher-level roles within corporations, government agencies, or non-profit organizations.
  2. Higher-Level Qualifications
    Upon completion of the Level 5 diploma, students can continue their education by progressing to higher qualifications such as the OTHM Level 6 Diploma in Accounting and Business or related fields such as business administration, financial management, or taxation. This will further enhance their leadership and strategic decision-making capabilities.
  3. Professional Qualifications
    Graduates can pursue professional qualifications such as those offered by major accounting bodies, including the Association of Chartered Certified Accountants (ACCA), Chartered Institute of Management Accountants (CIMA), or Institute of Chartered Accountants in England and Wales (ICAEW). These qualifications provide a route to becoming a chartered accountant or certified management accountant.
  4. Entrepreneurial Ventures
    Those interested in starting their own businesses will find the knowledge gained from this course invaluable. With expertise in accounting, finance, and business strategy, graduates are well-equipped to run their own successful enterprises.

The OTHM Level 5 Diploma in Accounting and Business is a comprehensive qualification that equips learners with the essential skills and knowledge required to succeed in the fields of accounting, finance, and business management. Whether you are seeking to advance in your current role, pursue higher education, or embark on a new career, this diploma provides a solid foundation for future growth.