The course is structured around six units, each of which builds on your knowledge and helps you develop your skills at a higher level.
Unit 1: Advanced Bookkeeping
Within the first Level 3 module you will learn how to use a sub-divided accounting system for reconciliations and trial balances, prepare accounts for irrecoverable debts and recognise the correct way to dispose of non-current assets. The units you will study in this unit include:
- Section 1: Understand generally accepted accounting principles and concepts
- Section 2: Understand the principles of double entry book keeping
- Section 3: Understand the accounting methods used to record non-current assets
- Section 4: Account for the purchase of non-current assets
- Section 5: Account for depreciation
- Section 6: Account for the disposal of non-current assets
- Section 7: Account for adjustments
- Section 8: Prepare and extend the trial balance
Unit 2: Final Accounts Preparation
Students will be able to implement accounting processes for various types of business as well as record changes to partnership structures and where required prepare accounts based on incomplete records. The materials in this unit will cover:
- Section 1: Understand the need for and the process involved in the preparation of final accounts
- Section 2: Prepare accounting records from incomplete information
- Section 3: Produce final accounts for sole traders
- Section 4: Understand the legislative and accounting requirements for partnerships
- Section 5: Prepare a statement of profit and loss appropriation account
- Section 6: Prepare a statement of financial position relating to a partnership
Unit 3: Indirect Tax
After studying this unit, you will have a good grasp of VAT legislation and how it relates to costs. You should also be able to prepare a VAT return. Sections in this unit include:
- Section 1: Understand VAT regulations
- Section 2: Complete VAT returns accurately and in a timely manner
- Section 3: Understand VAT penalties and make adjustments for previous errors
- Section 4 : Communicante VAT information
Unit 4: Management Accounting: Costing
Within this unit of study, you will explore the various costs and revenues associated with business management. The following will be covered:
- Section 1: Understand the nature and role of costing systems within an organisation
- Section 2: Record and analyse cost information
- Section 3: Apportion costs according to organisational requirements
- Section 4: Analyse deviations from budget and report these to management
- Section 5: Be able to use information gathered from costing systems to assist decision making
Unit 5: Ethics for Accountants
Ethical guidelines are important in accounting and this unit will guide you through the various ethical guidelines and legal considerations that you should apply, specifically looking at:
- Section 1: Understand the principles of ethical working
- Section 2: Understand ethical behaviour when working with internal and external customers
- Section 3: Understand when and how to take appropriate action following any suspected breaches of ethical codes
- Section 4: Understand the ethical responsibility of the finance professional in promoting sustainability
Unit 6: Spreadsheets for Accounting
The final unit in this course will allow you to use spreadsheets to an advanced level in accounting and make use of appropriate formulas and formatting guidelines. Sections include:
- Section 1: Use a spreadsheet to enter, edit and organise numerical and other data
- Section 2: Select and use appropriate formulas and data analysis tools and techniques to meet requirements
- Section 3: Use tools and techniques to present, format and publish spreadsheet information