Accounting
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Program Highlight
Accounting is the essential financial language of the business world, providing the critical data needed for strategic corporate decisions. Entering this field means gaining mastery over the tracking, interpretation, and management of financial resources. Students begin by exploring the fundamentals of financial accounting, learning double-entry bookkeeping, ledger maintenance, and the creation of trial balances. You will dive into management accounting, understanding how businesses analyze cost behaviors, calculate product costs, and prepare operational budgets for internal control. The curriculum covers the preparation of complex financial statements for limited companies, complying with UK regulatory frameworks and tax standards. You will also be introduced to business taxation, calculating VAT, and understanding corporate tax obligations alongside internal financial audit mechanisms. You enter a world of high numerical precision, compliance, and analytical evaluation, equipping you with the skill set to monitor financial performance, prevent corporate frauds, and guide businesses toward long-term profitability.
Accounting
Level 2 Certificate in Accounting (RQF Equivalent)
Course Structure Overview
Unit 1: Introduction to Bookkeeping Transactions
Unit 2: Principles of Bookkeeping Controls
Unit 3: Basics of Business Costing
Unit 4: Introduction to Accounting Software
Course Specification & Syllabus
Unit 1: Introduction to Bookkeeping Transactions
Learning Aim A:
- Introduction to financial sales and purchase documents (invoices, credit notes) and ledger account coding systems.
Learning Aim B:
- Training in entering simple financial transactions into sales, purchase, and cash daybooks using basic double-entry.
Unit 2: Principles of Bookkeeping Controls
Learning Aim A:
- Understanding sales and purchase ledger control accounts and how to identify simple numerical or spelling errors in books.
Learning Aim B:
- Learning to compare bank statements with the company cash book (simple bank reconciliation) to ensure balance accuracy.
Unit 3: Basics of Business Costing
Learning Aim A:
- Understanding the simple difference between materials and labor costs, and the concept of fixed costs for a shop or workshop.
Learning Aim B:
- Basic calculations of the manufacturing cost of a good and understanding the gross profit concept per product.
Unit 4: Introduction to Accounting Software
Learning Aim A:
- Introduction to main financial software menus, basic definitions of customers and suppliers in computer systems.
Learning Aim B:
- How to digitally record invoices, work with electronic receipts, and extract cash balance or ledger reports.
Accounting
Level 3 Extended Diploma in Accounting (RQF Equivalent)
Course Structure Overview
Unit 1: Fundamentals of Financial Accounting
Unit 2: Principles of Management Accounting
Unit 3: Financial Statements for Limited Companies
Unit 4: Business Taxation and Financial Control
Course Specification & Syllabus
Unit 1: Fundamentals of Financial Accounting
Learning Aim A:
- Introduction to the purpose and role of financial accounting, fundamental accounting principles and concepts, and UK financial reporting standards.
Learning Aim B:
- Understanding double-entry bookkeeping, recording transactions in journals and ledgers, and extracting a trial balance.
Learning Aim C:
- Identifying accounting errors, recording corrections and adjustments, and understanding the bank reconciliation process.
Unit 2: Principles of Management Accounting
Learning Aim A:
- Introduction to the purpose and role of management accounting in internal decision-making and its differences from financial accounting.
Learning Aim B:
- Classification of costs (fixed, variable, direct, and indirect), cost behaviour, and applying costing methods to determine the cost of products and services.
Learning Aim C:
- Principles of business budgeting, preparing operational budgets, and variance analysis for financial performance control.
Unit 3: Financial Statements for Limited Companies
Learning Aim A:
- Understanding the regulatory frameworks and accounting standards governing the preparation and publication of financial statements for limited companies (Ltd and PLC) in the UK.
Learning Aim B:
- Preparing a Statement of Profit or Loss and a Statement of Financial Position, including year-end adjustments (such as depreciation and accruals/prepayments).
Learning Aim C:
- Understanding the Statement of Cash Flows and company capital structures, including share capital, retained earnings, and financial reserves.
Unit 4: Business Taxation and Financial Control
Learning Aim A:
- Introduction to the principles of the UK taxation system, regulations concerning Corporation Tax, and the legal responsibilities of businesses towards HMRC.
Learning Aim B:
- Understanding the structure, calculation, and reporting process of Value Added Tax (VAT) for different types of business goods and services.
Learning Aim C:
- Methods for internal financial control, prevention of financial fraud and crime, and basic auditing principles to maintain a company's financial integrity.
