OTHM Level 5 Extended Diploma in Accounting and Business

The OTHM Level 5 Extended Diploma in Accounting and Business is an advanced qualification designed for individuals seeking to enhance their accounting and business management skills. This diploma offers students a comprehensive understanding of accounting principles, business operations, and financial management, equipping them to take on leadership roles in a variety of industries. Whether you are an aspiring accountant, business manager, or financial analyst, this diploma is your pathway to success in the business world.

The OTHM Level 5 Extended Diploma is equivalent to the second year of a bachelor’s degree, providing a balanced mix of theoretical knowledge and practical skills needed to succeed in the dynamic field of accounting and business management. This qualification is ideal for individuals looking to further their careers in finance, accounting, or general business management.

The OTHM Level 5 Extended Diploma in Accounting and Business covers a wide range of topics that are fundamental to both accounting and business management. The course is structured to provide students with in-depth knowledge in areas such as financial reporting, management accounting, business law, marketing, economics, and corporate strategy. This comprehensive curriculum ensures that students develop a strong foundation in accounting and business principles.

This qualification also emphasizes the importance of strategic thinking, decision-making, and leadership skills, preparing students for a range of senior roles in finance and business management. The course offers both practical applications and theoretical learning, ensuring students are fully equipped to handle complex financial situations and business challenges.

Course Benefits

  1. Comprehensive Knowledge of Accounting and Business: Gain in-depth knowledge of accounting practices, financial management, and business operations, which are essential for a successful career in accounting and business management.
  2. Global Recognition: The OTHM qualification is internationally recognized, enhancing your employability and credibility in the global business and finance sectors.
  3. Career Advancement: Whether you’re looking to take the next step in your current role or transition into a new career in finance or business management, this diploma helps to boost your professional profile and career opportunities.
  4. Practical Learning Approach: The course provides real-world case studies, business simulations, and practical applications to ensure you gain hands-on experience in financial decision-making and business operations.
  5. Pathway to Higher Education: The Level 5 Extended Diploma offers a pathway to further academic qualifications, including a bachelor’s degree in accounting, business management, or finance.
  6. Flexible Study Options: With online and part-time study options, the OTHM Level 5 Extended Diploma offers flexibility for working professionals who wish to balance education with other commitments.

Course Learning Outcomes

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

  • Financial Reporting: Understand how to prepare, analyze, and interpret financial statements, and learn about the regulatory frameworks that govern financial reporting.
  • Management Accounting: Gain the ability to apply management accounting techniques to support decision-making and improve business performance.
  • Business and Financial Strategy: Learn how to create and implement business strategies that align with financial goals and enhance organizational performance.
  • Marketing and Business Economics: Acquire knowledge of marketing principles and economic theories that can be applied to real-world business scenarios.
  • Business Law and Ethics: Understand the legal aspects of business, including corporate governance, business regulations, and ethical business practices.
  • Leadership and Decision-Making: Develop leadership skills and learn how to make strategic decisions that positively impact a business’s growth and profitability.

Study Units

OTHM Level 5 Extended Diploma qualifications represent practical knowledge, skills, capabilities and competences that are assessed in academic terms as being equivalent to Higher National Diplomas (HND) and Year 2 of a three-year UK Bachelor’s degree programme.

Qualification structure

The OTHM Level 5 Extended Diploma in Accounting and Business qualification consists of 12 mandatory units, 240 credits, 2400 hours Total Qualification Time (TQT) and the recommended Guided Learning Hours (GLH) for this qualification is a minimum of 1200 hours.

To achieve the OTHM Level 5 Extended Diploma in Accounting and Business, learners must achieve 240 credits, of which 120 credits are at Level 4 (6 units) and 120 credits are at Level 5 (6 units).

Level 4: 6 Mandatory units:
  • Academic Writing and Research Skills (20 credits)
  • Business and the Economic Environment (20 credits)
  • Principles of Financial Accounting (20 credits)
  • Quantitative Methods in a Business Context (20 credits)
  • Management Accounting (20 credits)
  • Leading and Managing Teams (20 credits)
Level 5: 6 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)

Who is This Course For?

The OTHM Level 5 Extended Diploma in Accounting and Business is ideal for:

  • Aspiring Accountants: Individuals who wish to pursue a career in accounting and want to gain a solid understanding of financial management and business operations.
  • Business Professionals: Professionals already working in business or finance who want to improve their skills, enhance their knowledge, and pursue career advancement in the business world.
  • Managers and Leaders: Individuals in managerial roles looking to sharpen their business management skills, improve decision-making, and take on more leadership responsibilities.
  • Entrepreneurs: Those looking to start their own business or enhance their understanding of business operations, financial management, and strategic planning.
  • Students Pursuing a Career in Finance: Individuals who are planning to progress to further studies in accounting, finance, or business management at the undergraduate or postgraduate level.

Future Progression

Upon completing the OTHM Level 5 Extended Diploma in Accounting and Business, students have several options for further study and career progression:

  1. Level 6 or Level 7 Diplomas: Pursue higher-level diplomas in accounting, business management, or finance to further specialize in a particular area.
  2. Bachelor’s Degree: The Level 5 Extended Diploma provides a pathway to completing a bachelor’s degree in accounting, finance, business, or economics, either through top-up programs or direct enrollment at a university.
  3. Master’s Degree: Those who want to continue their education at the postgraduate level can use this diploma as a stepping stone to a master’s degree in accounting, finance, or business management.
  4. Professional Certifications: Students can pursue professional certifications from recognized bodies such as ACCA (Association of Chartered Certified Accountants), CIMA (Chartered Institute of Management Accountants), or ICAEW (Institute of Chartered Accountants in England and Wales) to enhance their career prospects.

About OTHM

OTHM (Organisation for Tourism and Hospitality Management) is a globally recognized awarding body that provides high-quality qualifications in various fields, including business, accounting, tourism, and hospitality management. OTHM’s qualifications are designed to provide practical, real-world skills and academic knowledge, ensuring that graduates are well-prepared for successful careers in their chosen industries.

The OTHM Level 5 Extended Diploma in Accounting and Business is a well-respected qualification that helps students develop a strong understanding of business principles, accounting practices, and financial management. It provides an excellent foundation for individuals looking to pursue a career in accounting, business management, or finance.

Conclusion

The OTHM Level 5 Extended Diploma in Accounting and Business is an excellent choice for anyone looking to enhance their career in accounting, finance, or business management. With its comprehensive curriculum, practical learning approach, and global recognition, this diploma provides the skills and knowledge necessary to succeed in a competitive business environment.

Whether you are looking to advance your current career or switch to a new one in business or accounting, the OTHM Level 5 Extended Diploma is a valuable qualification that opens doors to new opportunities.