What you will
Preparation of final accounts for sole traders, developing
your understanding of accounting systems and the environment and principles
under which organizations operate. Accounting adjustments and accounting for
Legal requirements and preparation of partnership accounts,
showing division of profits after adjusting for interest on capital, interest
on drawings and any salaries due to each partner. Preparation of final accounts
for partnerships and developing skills in restructuring accounting information.
Preparing final accounts for sole traders, including the accounting treatment
required to incorporate accruals and prepayments, provision for depreciation,
irrecoverable debts and allowance for doubtful debts.
Principles of managing cash balances and deficits within an organization.
Advising on options available for raising finance and on investment of surplus
cash, without detriment to the cash flow of normal business activities or risk
to the organization’s ongoing liquidity.
Cost and Revenues
Identifying why cost-accounting is an important tool for an organization.
Different approaches to cost accounting and making informed and reasoned judgments
to guide management and help decision making.
Understanding current VAT regulations and building your
knowledge of VAT registration requirements, different VAT schemes available,
penalties for non-compliance and the different types of classification of
supplies. Performing the calculations needed to complete a VAT return. Submitting
completed documentation in a timely manner while maintaining an effective
working relationship with the relevant tax authority.
How to use software for recording data in rows and columns,
perform calculations with numerical data and present information using charts