The Postgraduate Diploma in Commerce (PGDipCom) is a two-semester paper-based programme designed for graduates seeking to build on their undergraduate degree and enhance their career prospects. Unlike the Bachelor of Commerce with Honours (BCom(Hons)) degree, it does not require students to write a dissertation. The PGDipCom may be awarded with distinction or credit. Finance is a modern and fascinating discipline dealing with money, markets and valuation, that is relevant to all aspects of business and personal and professional planning. Professionals in finance are involved with a myriad of issues in investments, planning and risk. The subject is often confused with accounting. However, while both deal with money and value, accounting is concerned with systems of control, and recording and reporting the results of historical transactions. By contrast finance is concerned with the relationship between investor expectations about the future and current market values. By focusing on markets the subject can also be confused with economics. However economics deals with broad issues of resource allocation, whereas finance focuses more narrowly on how markets value risk and the implications for investment, financial planning, shareholder wealth and corporate governance. Two recent trends have fuelled the value of finance as a mature, globally recognised profession and underpin its relevance for the 21st century. The first is the world-wide move to deregulation and the opening of markets which has coincided with an almost universal appreciation of the importance of capital and investment for growth and prosperity. The second is the rush of theoretical developments in the discipline which has provided the tools to manage risk and return. The impact has been extreme. There are few businesses today that are not acutely aware of the significance of markets and financial planning for their viability. Papers 120 points from 400-level FINC or ACFI papers. Other papers may be substituted subject to approval, up to a maximum of 40 points.