The NCFE Level 3 Diploma in Skills for Business: Finance has been accredited by the qualifications regulators for England, Wales and Northern Ireland, 1 and is part of the Qualifications and Credit Framework (QCF). This qualification forms part of a suite of qualifications which have been developed to form the substantial qualification element of Study Programmes, and meet the Teaching Agency’s requirements for high-quality, rigorous qualifications in education.

Aims and Objectives of this Qualification

This qualification provides transferable skills, knowledge and understanding that can be applied in any business setting. Units in Group A are aligned to National Occupational Standards for business and represent the core attributes required by employers in a range of business settings. Units in Group B specialise in finance covering accounts preparation, indirect taxes, costs and revenues, and professional ethics.

This Qualification Aims to provide Learners with


  • An understanding of the essential skills required to work successfully in a business environment
  • The skills required to solve problems in a business environment
  • An understanding of business culture and responsibilities
  • The ability to successfully communicate and work with others in a business environment
  • The opportunity to develop the skills required to manage and improve their own performance in a business environment
  • The skills and knowledge to carry out finance activities including preparing final accounts for some traders and partnerships, comparing and reporting actual costs with budgeted costs, and working with VAT.


Entry Guidance

This qualification is for learners aged 16 and above and is suitable for use within a Study Programme. There are no specific recommended prior learning requirements for this qualification. However, learners may find it helpful if they’ve already achieved a Level 2 qualification. Centres are responsible for ensuring that this qualification is appropriate for the age and ability of learners. They need to make sure that learners can fulfil the requirements of the assessment criteria and comply with the relevant literacy, numeracy and health and safety aspects of the qualification. Learners registered on this qualification shouldn’t undertake another qualification at the same level with the same or a similar title, as duplication of learning may affect funding eligibility.

Achieving this Qualification

To be awarded the NCFE Level 3 Diploma in Skills for Business: Finance, learners are required to successfully complete 6 units from group A and 4 units from group B.

This qualification consists of 15 units

Group A

  • Unit 01 Business culture and responsibilities (10 credits)
  • Unit 02 Deliver customer service in a business environment (10 credits)
  • Unit 03 Produce documents in a business environment (10 credits)
  • Unit 04 Solve problems in a business environment (10 credits)
  • Unit 05 Work with others in a business environment (10 credits)
  • Unit 06 Communicate in a business environment (10 credits)
  • Unit 07 Contribute to running a project (10 credits)
  • Unit 08 Innovation in a business environment (10 credits)
  • Unit 09 Manage and improve own performance in a business environment
  • (10 credits)
  • Unit 10 Respond to change in a business environment (10 credits)


Group B

  • Unit 11 Accounts preparation (9 credits)
  • Unit 12 Prepare final accounts for sole traders and partnerships (6 credits)
  • Unit 13 Costs and revenues (8 credits)
  • Unit 14 Indirect tax (4 credits)
  • Unit 15 Professional ethics (4 credits)


Progression opportunities

Learners who achieve this qualification could progress to:

  • NCFE Level 4 Diploma in Business and Administration
  • NCFE Level 4 NVQ Certificate in Business and Administration
  • NCFE Level 4 NVQ Diploma in Business and Administration
  • NCFE Level 4 finance or accounting related qualification


Credit Transfer

One of the benefits of the QCF is that learners can transfer credit from one qualification to another. Learners who've already achieved one or more of the units included in this qualification elsewhere can transfer the credit already achieved. Simply let us know which units are being achieved by credit transfer on the Certificate Claim Form.

How are they assessed?

They will be assessed by your tutor or assessor using a range of methods. This could include tasks such as designing charts or leaflets, coursework or methods such as oral questioning.

Do you need to be working to take the qualification?

No, as these are knowledge only qualification.

How long do they take to complete?

You can usually complete this in a year or less.

Which type of job roles can learners apply for on completion?

This qualification do not qualify you to work but do provide a starting point for deciding whether a career in the sector is right for you.

Qualification Reference Number

Diploma: 601/2648/6