In today’s competitive business environment, professionals need to have a strong understanding of both accounting principles and business management to succeed. The OTHM Level 5 Diploma in Accounting and Business provides a comprehensive learning experience that equips individuals with the knowledge and skills to excel in the world of finance and business. This Ofqual-regulated qualification is entirely assignment-based, offering a flexible and practical approach to learning.
The OTHM Level 5 Diploma in Accounting and Business is a specialized qualification that combines core accounting knowledge with essential business principles. This Ofqual-regulated qualification is designed to provide learners with a strong foundation in accounting and business practices, while also developing the necessary skills to apply that knowledge in real-world scenarios.
This diploma is aimed at individuals looking to progress their career in the fields of accounting, finance, or business management. The qualification is entirely assignment-based, which allows learners to focus on applying their knowledge in practical assignments rather than relying on exams. This makes the qualification more accessible, particularly for those who prefer a more applied and flexible approach to learning.
The OTHM Level 5 Diploma in Accounting and Business is an excellent choice for individuals looking to build or enhance their career in the fields of accounting and business management. With its comprehensive curriculum, flexible learning format, and assignment-based assessments, this Ofqual-regulated qualification provides a practical and effective pathway to professional success. Whether you are aiming for career advancement, looking to specialize in business finance, or hoping to pursue further academic studies, this diploma provides the essential knowledge and skills needed to achieve your goals.
OTHM Level 5 Diploma in Accounting and Business
The OTHM Level 5 Diploma in Accounting and Business comprises 6 mandatory units, totaling 120 credits. The qualification requires 1200 hours of Total Qualification Time (TQT) and 600 hours of Guided Learning Hours (GLH) to complete.
| Sr# | Unit Title | Credits | GLH |
|---|---|---|---|
| 1 | Principles and Concepts of Business Strategy | 20 | 100 |
| 2 | Financial Management | 20 | 100 |
| 3 | Financial Planning and Control | 20 | 100 |
| 4 | Financial Reporting | 20 | 100 |
| 5 | The Management of Human Resources | 20 | 100 |
| 6 | Business Start-up: Conception to Market | 20 | 100 |
GLH (Guided Learning Hours) and TQT (Total Qualification Time) are terms commonly used in vocational qualifications to help define the amount of time a learner is expected to spend on heir studies.
1. GLH (Guided Learning Hours)
GLH refers to the number of hours a learner spends being directly taught, supervised, or supported during their course. This includes the time spent in activities such as:
- Classroom instruction
- Practical workshops
- One-on-one tutoring or mentoring sessions
- Online learning sessions with tutor support
In other words, GLH represents the time that learners are actively engaged with their instructors or learning activities.
2. TQT (Total Qualification Time)
TQT represents the total amount of time a learner is expected to invest in completing a qualification, including:
- GLH (Guided Learning Hours): Time spent on direct learning, as explained above.
- Self-Directed Learning: This includes time spent on independent study, research, assignment completion, preparation for exams, and any other work the learner does outside of direct teaching hours.
TQT is a broader measure that includes all the time required to achieve the qualification. It helps learners and employers understand the overall commitment required for the qualification.
Key Differences Between GLH and TQT:
- GLH focuses on direct learning with guidance or supervision.
- TQT includes GLH as well as independent study time and other learning-related activities.
Example:
If a qualification has a TQT of 600 hours and a GLH of 250 hours, it means the learner should spend 250 hours in direct learning (classroom, online, or tutor-led sessions) and 350 hours on independent study or research.
Learning Outcomes of OTHM Level 5 Diploma in Accounting and Business
Principles and Concepts of Business Strategy
- Understand the principles of business strategy.
- Understand key business strategy theories and concepts.
- Understand a business’s strategic options.
Financial Management
- Understand the functions of financial management.
- Understand working capital management.
- Understand how capital is structured in a business.
Financial Planning and Control
- Understand the functions of financial planning and control.
- Understand sources of business finance and the techniques used to develop investment strategy.
- Understand global financial risk management.
- Understand the principles of corporate governance and how they support effective financial planning and control.
Financial Reporting
- Understand the purpose of financial reporting and budgets
- Understand how to report on the outcome of control accounts.
- Be able to report the outcome of an investment appraisal.
- Be able to report on the financial performance of a business.
The Management of Human Resources
- Understand the purpose and objectives of human resource management.
- Understand the functions of human resource management.
- Understand how internal and external factors impact the human resource management function.
- Understand modern development in human resource management function in a business.
Business Start-up: Conception to Market
- Understand the fundamental requirements for starting a new business.
- Understand sources of support available to new businesses.
- Be able to create a business plan for a new business to gain stakeholder support.
Benefits of the OTHM Level 5 Diploma in Accounting and Business are as :
- Comprehensive Knowledge of Accounting and Business
The OTHM Level 5 Diploma in Accounting and Business provides an in-depth understanding of both accounting principles and business management strategies. Learners will gain valuable skills in financial accounting, management accounting, business law, and strategic management, making them well-equipped for a variety of roles in the finance and business sectors. - Ofqual Regulated and Globally Recognized Qualification
As an Ofqual-regulated qualification, the OTHM Level 5 Diploma is widely recognized and respected by employers, universities, and professional bodies globally. This ensures that the qualification meets high academic standards and is accepted internationally, enhancing your employability and career prospects. - Flexible, Assignment-Based Learning
The course is entirely assignment-based, which allows for a more flexible learning experience. Learners can complete assignments at their own pace, allowing them to balance studies with work and personal commitments. This practical, application-focused approach ensures that learners are better prepared to apply their knowledge in real-world situations. - Enhanced Career Opportunities
The OTHM Level 5 Diploma in Accounting and Business is designed to open doors to a wide range of career opportunities. Graduates can pursue roles such as Financial Analyst, Business Consultant, Accountant, Finance Manager, or Business Manager. This qualification is a stepping stone to advancing your career in the accounting and business fields. - Practical Application of Knowledge
Through assignments based on real-world business and financial scenarios, learners are encouraged to apply the knowledge gained throughout the course in practical situations. This approach helps develop critical thinking, problem-solving, and analytical skills that are directly transferable to the workplace. - Pathway to Further Education
The OTHM Level 5 Diploma in Accounting and Business serves as a foundation for further academic and professional development. Graduates can progress to higher-level qualifications such as the OTHM Level 6 Diploma in Accounting and Business or pursue professional qualifications in accounting or business management, further enhancing their expertise and career prospects. - Increased Earning Potential
Completing the OTHM Level 5 Diploma can significantly improve your earning potential. With a strong understanding of accounting and business practices, you’ll be well-positioned for senior roles that offer competitive salaries in the finance and business sectors. - Global Career Mobility
Given the global recognition of the qualification, graduates of the OTHM Level 5 Diploma can pursue job opportunities not only in the UK but also internationally. Whether you wish to work in Europe, Asia, or the Middle East, the diploma gives you the flexibility to explore a wide range of career options across borders. - High-Quality Learning Materials and Support
Learners have access to high-quality learning resources and support from experienced tutors. This ensures a robust and effective learning experience, with guidance and assistance available throughout the course to help you succeed. - No Exams – Focus on Practical Assessment
The absence of exams means that learners can focus on understanding the material and applying it in practical scenarios. The assignment-based assessment model provides a stress-free, in-depth learning experience, allowing students to demonstrate their competence without the pressure of exams.
By completing the OTHM Level 5 Diploma in Accounting and Business, you will gain the necessary skills and qualifications to enhance your career in accounting and business, setting you on a path toward success in an increasingly competitive global job market.
The OTHM Level 5 Diploma in Accounting and Business is designed for individuals who are looking to enhance their knowledge and skills in accounting and business management. The ideal learner for this course is someone who:
- Has a Background in Business or Accounting
The course is ideal for individuals who have completed a Level 3 qualification in business, accounting, or a related field (or equivalent) and want to deepen their understanding. It is also suitable for individuals who have some professional experience in business or finance and want to formalize their knowledge through a recognized qualification. - Aspires to Progress in a Career in Accounting or Business
The ideal learner is someone looking to advance their career in accounting, finance, or business management. Whether you’re looking to move into senior roles like Finance Manager, Business Analyst, or Business Consultant, this qualification provides the essential skills and knowledge to do so. - Seeks to Combine Accounting and Business Skills
The OTHM Level 5 Diploma is perfect for individuals who want to gain both accounting expertise and a solid understanding of business principles. The course covers key areas like financial and management accounting, business strategy, and business law, making it ideal for those who want to specialize in both disciplines. - Is Self-Motivated and Independent
As the course is entirely assignment-based and flexible, the ideal learner is someone who is self-disciplined, motivated, and capable of managing their own study schedule. This qualification is well-suited to working professionals who are looking for a flexible learning format that fits around their personal and professional commitments. - Has Strong Analytical and Problem-Solving Skills
The course requires learners to think critically and solve practical business problems. The ideal learner should have strong analytical abilities and a keen interest in understanding how financial data and business operations are interconnected. - Is Looking for a Practical Learning Experience
The OTHM Level 5 Diploma is assignment-based, meaning learners will engage in practical tasks that apply their knowledge in real-world situations. The ideal learner enjoys working on practical assignments that reflect the challenges faced in the accounting and business world, helping them prepare for the demands of the job market. - Wants to Gain a Globally Recognized Qualification
Whether you plan to work in the UK or abroad, the OTHM Level 5 Diploma is recognized internationally. The ideal learner is someone looking for a globally recognized qualification that enhances their employability across different countries and sectors. - Is Interested in Further Education or Professional Development
This qualification also acts as a stepping stone for those who wish to continue their studies or pursue professional certifications in accounting or business management. The ideal learner may plan to progress to the OTHM Level 6 Diploma or pursue professional certifications such as ACCA or CIMA. - Is Committed to Continuous Professional Development
The OTHM Level 5 Diploma in Accounting and Business is perfect for individuals who are committed to lifelong learning and professional development. The course provides the skills and knowledge to stay competitive in the fast-evolving business and financial landscapes.
In summary, the ideal learner for the OTHM Level 5 Diploma in Accounting and Business is a motivated individual with a background in business or accounting who is looking to advance their career, gain practical skills, and develop a solid understanding of both accounting and business management. Whether you are aiming for a senior role in accounting or business, or seeking further academic qualifications, this course offers the knowledge and flexibility to help you achieve your professional goals.
Entry Requirements
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Qualification Process
Qualification Process OTHM Level 5 Diploma in Accounting and Business
- Self-Assessment:
Begin by evaluating your eligibility to ensure you meet the qualification requirements, including work experience, knowledge, and language proficiency. - Registration:
Complete your registration by submitting the required documents, including a scanned copy of a valid ID, and paying the registration fee. - Induction:
An assessor will conduct an induction to confirm your eligibility for the course and explain the evidence requirements. If you do not meet the criteria, your registration will be canceled, and the fee will be refunded. - Assignments & Evidence Submission:
Provide all assignments and the necessary evidence based on the assessment criteria outlined in the course. If you are unsure of the required evidence, consult with the assessor for guidance on the type and nature of evidence needed. - Feedback and Revision:
The assessor will review your submitted evidence and provide feedback. Evidence that meets the criteria will be marked as “Criteria Met,” while any gaps will be identified. You will be asked to revise and resubmit if needed. - Competence Evidence:
Submit final evidence demonstrating that all learning outcomes have been met. This evidence will be marked as “Criteria Met” by the assessor once it is satisfactory. - Internal Quality Assurance (IQA):
The Internal Quality Assurance Verifier (IQA) will review your evidence to ensure consistency, quality, and compliance with standards. - External Verification:
The IQA will submit your portfolio to OTHM External Quality Assurance Versifier (EQA) for final confirmation. The EQA may contact you directly to verify the authenticity of your evidence. - Certification:
Upon successful completion of all checks, OTHM will issue your official certificate, confirming that you have attained the OTHM Level 5 Diploma in Accounting and Business
