The Qualifi Level 3 Diploma in Accounting and Finance provides a solid foundation for individuals looking to enter the financial sector or enhance their existing knowledge. Designed to develop essential accounting and financial management skills, this qualification equips learners with the expertise required for further academic progress or career advancement.
This diploma is ideal for those aspiring to work in accounting and finance roles, whether in private firms, public organisations, or independent financial consultancy. As an Ofqual-regulated awarding body, Qualifi ensures that the course meets industry standards and aligns with professional expectations. Being entirely assignment-based, the qualification offers flexibility for learners who prefer coursework over examinations.
Successful completion of the diploma opens doors to various career paths, including roles such as accounting assistant, financial analyst, and payroll administrator. Additionally, learners may progress to higher-level qualifications, such as the Qualifi Level 4 and Level 5 Diplomas in Accounting and Finance, or professional certifications in the field.
For those seeking a flexible yet rigorous qualification in accounting and finance, this diploma provides an excellent starting point. With a curriculum designed to meet industry needs and an assignment-based assessment method, learners gain practical knowledge and skills that can be directly applied to professional settings.
The Qualifi Level 3 Diploma in Accounting and Finance qualification consists of 3 mandatory units for Credit Equivalency 60 for the completed qualification.
| Sr# | Unit Title | Credits | GLH |
| 1 | Financial Transactions Record-keeping | 20 | 80 |
| 2 | Cost and Management Information | 20 | 80 |
| 3 | Financial Records Maintenance | 20 | 80 |
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 their 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 Qualifi Level 3 Diploma in Accounting and Finance
Financial Transactions Record-keeping
- Understand why financial transactions need to be recorded.
- Be able to prepare source documents and Books of Prime (Original) Entry to record financial transactions.
- Understand the classification and management of income and expenditure.
Cost and Management Information
- Understand cost and management accounting.
- Be able to account for labor costs.
- Understand the use of Information and Communication Technology (ICT) in recording management information.
Financial Records Maintenance
- Understand the role of accounting concepts.
- Be able to use the double-entry system of bookkeeping.
- Be able to prepare a three-column cash book.
- Be able to prepare a bank reconciliation statement.
Course Benefits of the Qualifi Level 3 Diploma in Accounting and Finance
- Industry-Recognised Qualification – Being regulated by Ofqual, the diploma is widely respected by employers and educational institutions.
- Flexible Learning Approach – The assignment-based structure allows learners to study at their own pace without the pressure of exams.
- Strong Foundation in Accounting and Finance – Covers essential topics such as financial reporting, taxation, and management accounting to build a comprehensive skill set.
- Career Advancement Opportunities – Enhances employability in roles such as accounting assistant, financial analyst, and payroll administrator.
- Pathway to Higher Qualifications – Provides a stepping stone to Level 4 and Level 5 Diplomas in Accounting and Finance or professional accounting certifications.
- Develops Practical and Analytical Skills – Focuses on real-world financial applications, helping learners apply theoretical concepts to workplace scenarios.
Ideal Learner for the Qualifi Level 3 Diploma in Accounting and Finance
- Aspiring Finance and Accounting Professionals – Individuals looking to establish a strong foundation in financial accounting, management accounting, and taxation. This qualification equips them with essential skills to pursue roles such as accounts assistant, financial administrator, or junior accountant.
- Career Changers – Professionals from non-finance backgrounds who wish to transition into the accounting and finance sector. The course provides a structured learning pathway, allowing them to gain industry-relevant knowledge and skills without prior experience in the field.
- Entrepreneurs and Business Owners – Small business owners and self-employed professionals who need financial literacy to manage their company’s accounts, budgeting, and tax compliance effectively. This diploma helps them understand key financial concepts and improve decision-making in their businesses.
- Students Seeking Higher Education – Learners aiming to progress to higher-level qualifications in accounting and finance, such as the Qualifi Level 4 and Level 5 Diplomas, university degree programmes, or professional certifications like ACCA or CIMA.
- Working Professionals – Employees in administrative or finance-related roles who want to enhance their accounting knowledge for career growth. The diploma provides an opportunity to gain formal recognition of their skills and increase their chances of promotion.
- Individuals Seeking a Flexible Learning Option – Those who prefer coursework-based assessment rather than traditional exams. The assignment-based structure allows learners to apply theoretical knowledge in practical scenarios while studying at their own pace.
Entry Requirements
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Qualification Process
Qualification Process for the Qualifi Level 3 Diploma in Accounting and Finance
- 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 Qualifi’s External Quality Assurance Verifiers (EQA) for final confirmation. The EQA may contact you directly to verify the authenticity of your evidence. - Certification:
Upon successful completion of all checks, Qualifi will issue your official certificate, confirming that you have attained the Qualifi Level 3 Diploma in Accounting and Finance.
