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Corndel joins the Department for Education’s The Skills Toolkit, to offer award-winning Organisational Finance course

By June 2, 2020 No Comments

Corndel is delighted to partner with The Department for Education, alongside other leading education experts in the UK, for The Skills Toolkit initiative. The Skills Toolkit is a new online platform, giving access to free, high-quality digital and numeracy courses to help people build up skills, progress in work and boost job prospects.  Skills development is a critical part of the UK’s economic recovery from the impacts of Covid-19.   

Corndel CEO, Sean Williams, explains the importance of this partnership: “We wanted to contribute to the national effort to reskill workers and help them back into the workplace as quickly as possible. Our award-winning, Chartered Management Institute courses contain modules that enable people to develop skills to become the exceptional Leaders and Managers that we will need in the times ahead. Our Finance course is a critical component of our Diploma and the skills taught in this module are highly desired in the marketplace. By offering this we can enable people to stand out from the crowd and progress their careers in a challenging market.”  

Gillian Keegan, Minister for Apprenticeships and Skills said: 

“I’d like to congratulate the tens of thousands of people who have already taken advantage of the range of high quality courses The Skills Toolkit has to offer. We’ve had a fantastic response so far with more than 136,000 starts on the courses featured since the platform launched last month. The good news is we have now added four new courses, expanding the range of free digital and numeracy courses available. 

“It is a difficult time for everyone, but we want as many people as possible to be able to continue to gain the skills and confidence that could help them to get ahead. With 82% of all job openings requesting digital skills, I’d encourage anyone looking to learn something new, or any employers keen to help their employees keep up their development, to take a look and see what’s on offer.” 

Corndel’s course materials are developed internally and have won a number of industry awards. The course is offered through The Skills Toolkit and https://finance.corndel.com/ . It is delivered using Corndel’s blended model, whereby learners select video, audio, or text options to access the content in a way that suits their individual learning style.   

The Finance Course teaches the essential analytical tools and financial reports used to manage organisations. Upon completion of the course, learners will be able to:  

  • understand the central accounting statements, comprising the balance sheet, profit & loss account, and cash flow forecast;  
  • calculate key ratios to analyse financial data and make effective decisions;  
  • draw up and manage a budget for a team or department; and  
  • investigate the different types of variances that occur from budgeted spend and show how you would correct them.  

Learners can, chronologically, move through the nineteen units, or pick and choose the ones most relevant to them. Units include:   

  1. The Balance Sheet  
  2. Liquidity Rations  
  3. The Profit and Loss Account  
  4. Profitability Ratios  
  5. Market Prospect Ratios  
  6. Operating Performance Ratios  
  7. Gearing or Leverage Ratios  
  8. Cash Flow Statements and Forecasts  
  9. Discounted Cash Flow  
  10. Absorption and Marginal Costing  
  11. Budgeting and Sales Variances  
  12. Budgeting and Labour Variances  
  13. Budgeting and Materials Variances  
  14. Drawing up a Departmental Budget  
  15. Investigating and Correcting Variances  
  16. Budgets: Problems and Perverse Incentives  
  17. Controlling Costs – including Activity-Based Costing  
  18. Controlling Credit and Bad Debts  
  19. Sources of Finance     

The Skills Toolkit is for everyone: to support and develop people who have been furloughed; for people who may need support to find a new job; and for everyone who would like to keep their mind healthy and busy during time spent at home. The Skills Toolkit can be accessed here: gov.uk/theskillstoolkit