Candidates are required to apply their understanding to a variety of simple business situations and should be able to make simple decisions based upon the analysis and evaluation of information provided.

Business finance: needs and sourcesThe need for business finance;
The main sources of finance,
Cash-flow forecasting and working capitalThe importance of cash and of cash-flow forecasting;
Working capital.
Income statementsWhat profit is and why it is important;
Income statements.
Statement of financial positionThe main elements of a statement of financial position;
Interpret a simple statement of financial position and make deductions from it.
Analysis of accountsProfitability;
How to interpret the financial performance of a business by calculating and analysing profitability ratios and liquidity ratios;
Why and how accounts are used.