ABOUT THIS COURSE
This course is ideal for learners who wish to pursue a career in Accountancy. It is also highly valued in careers such as retail, banking and for anyone wanting to start their own business. The course covers all aspects of financial statements and using financial information to inform the making of business decisions.
COURSE AREA LEAD
James Brough
WHO IS THIS AIMED AT?
This course is aimed at students who:
Wish to pursue a career in the accounting or financial sector
Wish to start their own business and require an understanding of finance
Enjoy analysing and interpreting data
Do not want to study Mathematics at University, but would like to pursue a course with a large numerical content
WHAT WILL YOU LEARN?
Core Units:
Role of the Accountant in business
Types of business organisations
The double entry model
Verification of accounting records
Accounting concepts in the preparation of accounts
Preparation of financial statements for sole traders
Limited company accounts
Analysis and evaluation of financial information
Budgeting
Marginal Costing
Standard costing and variance analysis
Absorption and activity based costing
Capital investment appraisal
Accounting for organisations and incomplete records
Accounting for limited companies
Interpretation, analysis and communication of accounting information
The impact of ethical considerations
WHAT SKILLS WILL YOU DEVELOP?
Explain the role of the accounting in business
Evaluate Types of business organisations
Recognise the source documents and identify their purpose
Understand the operation of double entry bookkeeping principles
Explain the purpose of day books
Explain the process of posting entries from the day books to the ledgers
Explain the purpose and structure of the day books
Explain the difference between cash discount and trade discount
Explain the purpose of the general journal
Decision Making
Time Management
Assess the effect that errors will have on the calculation of profit
Calculate inventory values based on the application of accounting concepts
Prepare financial statements of a sole trader that include bad debts recovered and adjustments for income received in advance and dueTeamworking
Calculate figures for total revenue and capital expenditure correctly selecting items from a list
Evaluate bonus issues by assessing the benefits and drawbacks of a bonus issue from the issuing company’s viewpoint and from a shareholders viewpoint
Communication
Analyse the performance of a business comparing results over a period of years
Assess the performance of a business comparing it with other similar businesses or with benchmarks for businesses in the same sector
Evaluate a business’s performance by assessing strengths and weaknesses in performance
Calculation and interpretation of break-even point, interpreting break-even charts and the use and limitations of break-even analysis methods
Make decisions on the following: make or buy, additional orders, scarce resources
Calculation and interpretation of variances: materials (price and usage), labour (efficiency and rate), sales (volume and price)
Make recommendations as to how the performance of a business, as revealed by a budget, could be improved
Develop Resilience
Problem Solving
PROGRESSION ROUTES
Accountant
Finance
Business Analyst
Research Scientist
Statistician
Logistics
Maths Teacher
Director
Manager