Diploma in Business Studies

applyonlineThe Diploma in Business Studies Program is a flexible learning program comprised of sixteen units over a two week residential study for four semesters. This program is designed to equip students with fundamental and contemporary knowledge and upgrade their analytical and behavioral skills required in managing an organization, whether profit or non-profit.

Program Code: Dip BS

Program Description

The Diploma program provides the students with an in-depth understanding and development of business theories and concepts as well as practical management skills. A Diploma in Business Studies is awarded to students who have completed one hundred and sixty credit points.

Credit points required

Achievement of 160 credit points.

Duration of Study

Two years - Four Semesters

Study Mode and Location

DiPBS utilizes blended teaching and learning strategies. Students are required to attend an intensive two week residential period of study each semester at DWU Madang Campus, after which distance mode of study ensues. Theoretical directed and practical assignments relating to workplace applications are then completed by the students in given periods of time.

Units are offered at various times throughout the year using well-established principles of adult learning applied to PNG context.


•  Grade 12 graduates with relevant post-secondary certificates
•  Matriculated to grade 12 equivalent
•  Have at least 3 years of industry work experience or self-employment


Program Units

Semester One

FM211 Accounting Principles and Procedures 1
FM212 Introduction to Management
FM213 Communication in Business
FM214 Ethics in Business

Semester Two

FM215 Accounting Principles and Procedures
FM216 Introduction to Economics
FM217 Basic Finance
FM218 Introduction to Business Laws

Semester Three

FM219 Financial Accounting 1
FM220 Basics of Marketing
FM221 Personal Taxation
FM222 E-Spreadsheet

Semester Four

FM223 Financial Accounting 2
FM224 Cost Accounting
FM225 Business Taxation
FM226 Project Feasibility study


Program Unit Descriptions


FM211 Accounting Principles and Procedures 1 - 10 Credit Points

Accounting is an information system designed to enable the preparation of financial statements that will provide relevant information for the making of economic decisions. This unit focuses on accounting information systems for non-incorporated businesses. Students should understand accounting fundamentals including the users of accounting information; assumptions and principles underlying accounting; the meaning of the terms asset, liability, owner’s equity, revenue and expense; the accounting systems for unincorporated single and multiple owner businesses.


FM212 Introduction to Management - 10 Credit Points

This unit provides knowledge on the principles and practices of management and the roles of manager in the organization. It mainly revolves around the basic functions of managers, specifically planning, organizing, leading and controlling. Apart from providing the students with the beginning level of understanding management principles, case studies are analysed using various appropriate strategies and techniques based on relevant principles and theories.


FM213 Communication in Business - 10 Credit Points

The unit comprises of two components namely written and oral communications. The written component aims to provide the students with the knowledge and skills to write clear, concise, relevant and effective business correspondence, reports and memoranda. The oral component comprises of composing a draft for an interview, taking dictation, use of telephone and presentation of reports. For the students apply effectively the concepts of the two components, reading with utmost comprehension business correspondence, reports and memoranda shall be emphasized first.


FM214 Ethics in Business - 10 Credit Points

The aim of this unit is to examine what constitute ethical behaviours and social responsibilities of business enterprises towards their employees, customers, suppliers and the community as a whole. Specifically, it deals on ethical issues and policies related to human resource management, production and marketing of goods and services as well as social desirability of investments to the community. The unit will compare and contrast different ethical theories and identify the moral principles that will guide the behaviour of decision-makers of business enterprises.


FM215 Accounting Principles and Procedures - 10 Credt Points

This unit continues the study commenced in Accounting Foundations 1. It emphasizes skill development and extends applications and analysis undertaken in the preceding unit. It examines transactions and events in more complex settings and deals with assets, liabilities, and different business structures. Principles, concepts and policies underpinning accounting action are elaborated.


FM216 Introduction to Economics - 10 Credit Points

This unit introduces the students to concepts, principles and theories that explain the behaviour of consumer and producers of goods and services, owners of economic resources in a free enterprise economy such as PNG. Furthermore, students are taught to utilize economic theories and analyse problems faced by individuals, organizations and the economy as a whole.


FM217 Basic Finance - 10 Credit Points

This unit introduces the core concepts of finance and the tools of financial decision making in the context of PNG and international environments. Concepts include time value of money, risk and return and capital structures. The unit is to develop an understanding of the basic practices of finance management from the standpoint of the firm.


FM218 Introduction to Business Laws - 10 Credit Points

This unit provides students the knowledge and understanding of the PNG law and PNG business law as well as the legal requirements for the formation and operation of various entities carrying on business activities in PNG.


FM219 Financial Accounting 1 - 10 Credit Points

This unit provides students with a set of inter-related concepts defining the nature, purpose and broad contents of financial reporting. It focuses on the development and communication of financial information for external users primarily through general-purpose financial statements. It also considers the design and implementation of accounting information systems as a data model for resource allocation and management of an organization. It includes consideration of current trends in information management and the changing regulatory requirements.


FM220 Basics of Marketing - 10 Credit Points

Effective marketing is not about learning a series of facts, but comes from systematic critical thinking and reasoned application of underlying principles in a dynamic marketplace. This unit provides the principles, interpretation and analytical frameworks and challenges students towards them to make better marketing decisions. As such, it establishes a foundation for subsequent in-depth marketing units and provides an understanding of the application and role of marketing within the broader business environment.


FM221 Personal Taxation - 10 Credit Points

The unit introduces the students to income tax laws and regulations that apply to Papua New Guinea. It also prepares the students for professional accounting examinations provided by CPAPNG. The unit will focus on introduction to income tax laws for individuals, resident and non-resident, companies and other business and allowable deductions to businesses.


FM222 E-Spreadsheet - 10 Credit Points

This unit covers creating and using simple spreadsheets and charts through the use of spreadsheet software. It also deals on the use and safe work practises, create simple spreadsheets and produce spreadsheets that are necessary and essential for those entering the business world. With a commonly used software application, this skills-based unit explains the fundamental principles and practical skills required to produce accurate calculations in worksheets with a professional appearance.


FM223 Financial Accounting 2 - 10 Credit Points

This unit is the continuation of FM219. It focuses on the financial accounting sequence of investing, common accounting disclosures of a business and the other dimensions of corporate financial accounting and reporting. Accounting issues in accordance with International Financial Reporting System (IFRS) on corporate financial reporting are also explored.


FM224 Cost Accounting - 10 Credit Points

This unit aims to introduce students to the various cost concepts and explore the different cost accumulation procedures. Job order and process costing are explored and applied on business concerns, on service organizations such as health care organizations and hotel services. The first part of the unit covers the costs, its concepts and objectives, its vital role in management planning, organizing and control. The second part probes in detail the cost elements and its accumulation under job order costing and inventory valuation.


FM225 Business Taxation - 10 Credit Points

This unit is a continuation of BS217 Taxation 1. Students are trained further to assist and represent clients before government agencies in relation to business and company tax matters. The unit focuses on tax laws of PNG pertaining allowable deductions to business such as tax treatment of business expenses, depreciation, specific tax incentives for industry, taxation for non-residents and overseas income, tax administration taxation of resource projects.


FM226 Project Feasibility Study - 10 Credit Points

This unit is designed to enable the students to learn how to do a feasibility study or business plan and then actually do their own project proposal. The students are expected to understand the importance of feasibility study, learn the process involved in conducting a feasibility study and learn by doing a feasibility study. A discussion of the topic, Entrepreneurship, and its role in the development of PNG economy is likewise integrated.