The economic aspect of the Aroma Trades is key to any successful business and within this sector there are several factors unique to the industry that are not generally covered in standard business finance courses. In this module, you’ll gain the background knowledge required for this specialist context as you focus on the topic of financial management.

Finance and costing are first discussed in theory, so core characteristics of this important area are fully understood. Following this, you’ll learn more about costing within the aroma trades including key stages in the production and business process: costing areas covered range from formulations and batches to steam distillation, solvent extraction and other aspects of aroma chemical and essential oil production.

The module also covers fundamental aspects of financial management including budgets, investment appraisal, and time value DCF calculations to give you a fuller appreciation of this critical part of the industry.