Institute of Commercial Management | Qualification Subject

Financial Planning and Reporting

ICM Professional Diploma Unit

Financial Planning and Reporting aims to equip learners with an understanding of tools and techniques used in planning, organising, reporting and presenting of financial reports.

Main Topics of Study:

Financial Resources 

  • The role of the accountant
  • ~Compiling financial statements
  • ~Performing financial calculations
  • ~Analysing financial data
  • ~Supervise bookkeepers and accounting assistants
  • ~Offer financial advice

Financial Control

  • Financial information and decision-making
  • Cash Flow
  • Implement financial recordkeeping systems 

Planning and Decision-Making Accounting for Costs

  • Manufacturing accounts
  • Assisting with the budget preparation to provide organisations with future planning and decision-making information

The Provision of Financial Information

  • Interpretation of Financial Statements
  • Preparing Statements of Standard Accounting Practice (SSAP) reports and Financial Reporting Standard (FRS) reports
  • Ensuring compliance with financial laws and regulations
  • Reporting on financial performance

Example Candidate Response Booklet

Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).

Recommended Reading

Main Text:

Elliot, J and Elliot, B (2022) Financial Accounting and Reporting. 20th ed, Harlow: Pearson Education Limited

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Wood, F. and Sangster, A (2021). Frank Wood’s Business Accounting. 15th ed. New York: Financial Times/Prentice Hall.

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Wood, F. and Sangster, A (2018). Frank Wood’s Business Accounting. 14th ed. New York: Financial Times/Prentice Hall.

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Giles, R and Capel, J (2008) Finance & Accounting. 2nd ed. Lulu.com 

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Dodge, R. (1997). Foundations of Business Accounting. 2nd ed. Andover: Cenage Learning

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IFRS (2023). International Financial Reporting Standards. Available here (Assessed: 22 November 2023) **

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ICAEW (2023). Accounting Standards. Available here Assessed: 22 November 2023)(Assessed: 22 November 2023)

**Centres are reminded to check the recommended reference links on Accounting and Reporting Standards to ensure that learners are being taught with the most up-to-date Accounting and Reporting Standards.

Indicative Text:

Alternative Text and Further Reading: