- Conceptual and Regulatory Framework
Examine the various user groups which need accounting information. Study the differences between financial and management accounting systems, capital and revenue, cash and profit, income and expenditure, assets and liabilities, and tangible and intangible assets. Consider the different methods of asset valuation.
Consider the purpose of accounting records. Prepare sales and purchases accounts, nominal ledger accounts, trial balances, trading accounts, accounts for indirect taxes, and accounts for payroll. Prepare accounts using accruals and prepayments, and prepare accounts for bad debts as well as allowances for receivables. Study the different methods of depreciation, accounts for impairment values, and non-current asset registers.
- Control of Accounting Systems
Prepare cash and bank accounts, petty cash statements, accounts for inventories, and journal entries. Consider the need for financial accounting codes and financial controls. Examine audit checks and audit trials. Study methods of fraud prevention. Prepare control accounts and bank reconciliation statements. Learn the methods of valuing assets. Consider external and internal audit, and fair presentation.
- Preparation of Accounts for Single Entities
Prepare income and expenditure accounts, accounts for incomplete records, manufacturing accounts, and cash-flow statements. Examine profitability ratios, liquidity ratios, efficiency ratios, and capital structure ratios.