European Qualifications Framework (EQF) has 8 levels (1 – the lowest, 8 – the highest).
Levels reflect the complexity level of acquired knowledge, skills and competences (learning outcomes).
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Information about the Latvian qualifications referenced to Latvian qualifications framework (LQF)
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1. The KNOWLEDGE at the level of notion:
1.1. history of economics and finances;
1.2. guidelines of the European Union and international organizations in the field of financial analysis and planning.
2. The KNOWLEDGE at the level of understanding:
2.1. understanding of the regulatory documents governing the financial activity;
2.2. microeconomics, macroeconomics;
2.3. financial theories.
2.4. business communication psychology;
2.5. structure of the financial system;
2.6. global finances;
2.7. marketing;
2.8. business management;
2.9. professional terminology in the official language and two foreign languages.
3. The KNOWLEDGE at the level of use:
3.1. financial accounting and basics of auditing;
3.2. financial analysis and management;
3.3. organization of scientific activities;
3.4. use of statistical methods in finance;
3.5. business informatics;
3.6. financial instruments market;
3.7. banking;
3.8. taxes and tax and fee systems;
3.9. investments;
3.10. project financing;
3.11. ethics, business etiquette;
3.12. information technologies;
3.13. environmental protection;
3.14. official language;
3.15. at least two foreign languages at the communication level;
3.16. labour protection;
3.17. legal employment relationship.
1. To analyse correlations and trends of economic and financial developments and adopt decisions according to the changing circumstances.
2. To use laws and regulations, as well as professional standards governing the financial activities.
3. To utilize modern quantitative methods of financial analysis and financial engineering for an effective business operation.
4. To use accounting and balance sheet data, statistical information, analyse results of operation.
5. To analyse, systematize and integrate collected information, utilize economic, statistical and econometric research methods.
6. To predict financial performance results.
7. To calculate taxes.
8. To develop investment projects.
9. To use statistical methods for analysis.
10. To access, analyse and manage financial risks.
11. To prepare and present reports.
12. To use information acquisition, processing and systematization technology.
13. To work in a team or a group, coordinate and delegate tasks.
14. To know the official language.
15. To know at least two foreign languages at the communication level.
16. To use professional terminology in the official language and at least two foreign languages.
17. To communicate and interact with the staff from various departments, direct management and partners.
18. To effectively plan and organize one’s work.
19. To independently acquire new knowledge.
20. To prepare business documents in accordance with record-keeping and accounting requirements.
21. To act in accordance with the requirements of the laws and regulations and ethical standards.
22. To comply with professional ethics, codes of conduct and standards.
1. Ability to conduct financial market analysis to identify financial market trends and the factors affecting it.
2. Ability to define a company’s financial objectives and main directions in accordance with the interests of the owners and the public.
3. Ability to analyse and evaluate the financial position of a company.
4. Ability to inform the company’s management on the achievable financial goals and objectives.
5. Ability to ensure timely compilation and submission of financial reports.
6. Ability to identify and assess internal and external sources of financing.
7. Ability to determine the optimal structure of capital, consider possible actions with securities and prepare the issue of securities.
8. Ability to manage short-term accounts receivable and accounts payable.
9. Ability to manage stocks.
10. Ability to manage money.
11. Ability to determine the financial return on investment and risk.
12. Ability to make financial forecasting (predict the volume of the manufactured products or provided services, predict investments, predict financial performance).
13. Ability to prepare an institution’ s budget and take control of the execution thereof.
14. Ability to prepare proposals for financial investments and operations with securities.
15. Ability to calculate and evaluate investment efficiency, develop material, financial and non-material investment projects.
16. Ability to present the obtained results.
17. Ability to communicate in the official language and at least two foreign languages.
18. Ability to make research on current financial issues.
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5
Business and administration (041)
Detailed field: (ISCED 2013)Finance, banking and insurance (0412)
EducationHigher education
Qualification typeVocational
Full or partialFull qualification
Other information
Active qualification
Period for issuing qualification: 2013-2021
Last changes: 16.09.2021
Posted: 07.05.2016