Budgets and Financial Control

Accounting plays a critical role in project management. Without budgets and financial control, projects risk overspending and missing deadlines. 

This online microcredential from the University of Aberdeen will equip you with the fundamental accounting and finance skills to help you successfully manage projects of every scale.

With expert guidance from industry professionals, you’ll explore the sources and complexity of project resourcing and gain practical insights into budgeting, cost control, project accounting, and project appraisal. 

Learn how to link company strategy to project financing

First, you’ll unpack the language and concepts of finance and accountancy to help you communicate effectively in your workplace. 

Next, you’ll discover the critical link between company strategy and project financing. You’ll learn how to identify diverse sources of funds, align them with strategic objectives, and use effective investment appraisal techniques. 

Learn how to conduct simple financial statement analysis

To help you gain workplace-ready skills, you’ll master essential accounting and finance concepts and learn the intricacies of balance sheets, incomes statements, and the difference between profit and cash. 

You’ll also hone your skills in simple financial statement analysis to help you make informed decisions in project management.

Unpack financial and management accounting

Next, you’ll learn to distinguish between financial and management accounting, exploring the techniques and concepts that drive each. 

Developing your understanding of management accounting, you’ll be able to make strategic financial decisions in project management.

Enhance your project finance knowledge

To gain a holistic view of project finance, you’ll discover the integration of different facets, such as project budget models and the relationship between planner and accountant.

This knowledge will help you construct accurate accounting forecasts – essential for project success. 

Identify investment appraisal techniques

To further your knowledge, you’ll dive into advanced appraisal methods, including discounted cash flow. 

You’ll then understand how to relate investment performance to accounting measurement and the nuances of depreciation, expenditure, income, and cost allocation. 

By the end of the microcredential, you’ll have the practical skills to carry out simple investment appraisals of projects. Studying flexibly and online, you can set your own hours to fit this microcredential seamlessly into your schedule. 

How will the skills I learn help in my career?

The skills you learn on this microcredential can be directly applied to real-world project management.

You’ll enhance your career prospects by mastering essential finance and accounting tools for effective decision-making and project success.

Will I receive university credits?

Upon successful completion, you’ll earn 15 credits at Master’s level (SCQF Level 11). You can use these credits towards the University of Aberdeen’s MSc Project management. 

How will I be assessed?

You’ll be assessed throughout the microcredential via a range of assignments. These are designed to encourage you to reflect and draw upon your professional experience and mirror real-world challenges to ensure your skills are developed for practical application in your career.