BRIEF COURSE INFORMATION
The Accounting and Bookkeeping Diploma Course takes those who have little or no comprehension in this area through the fundamentals of accountancy and onto more complex concepts, principles, and practices.
There are practicable examples and full explanations, students who full this training will be equipped with a greater comprehension and be capable of comprehension the fundamentals of accountancy in their own or other businesses. This will enable them to attend to their own accounts or use the training as a feeder into specific areas or more senior qualifications in accounting.
The training focuses on the accounting rules, concepts, principles, and presumptions that govern the application of accounting procedures, referred to as the Generally Accepted Accounting Principles or GAAP.
Understanding these are of paramount importance, as you will abide by these techniques and principles every time you analyse, record, summarise, statement and interpret financial transactions of a business.
As the main source from which financial notes are prepared, it is important to understand how to identify, record, and give source documents of business transactions inline with a company’s financial policies and the industry-acceptable practice.
Students will study about the Accounting Information Cycle, Trial Balance and General Ledgers, and the importance of converting transactional to accounting information, in a standardised manner is stressed.
You will study the fundamentals of manufacturing, trading, earnings and loss account, the Balance Sheet and the Cash Flow Statement. You will have an comprehension of the subject, with the introduction of: task in progress, purchase returns, opening and closing stock of raw materials, and the treatment of major components in accounting, such as: cost of goods sold, direct and indirect cost.
Students will study the difference between accounts for profit-making and not–for-profit organisations, the technique for preparing receipts and charge accounts and income and expenses accounts and the difference between the two, the technique for preparing the balance sheet of Not-for-Profit organisations and how to identify avenues of expenses are also covered.
Before final accounts are prepared, a trial balance is created. During the time between this being designed and final accounts being prepared, adjustments are made. You will also study about the impact that technology has had on accounting, the accounting software packages that can be used, as well as the pros and cons of using Microsoft Excel to full structural tasks and how cloud computing can be used in accounting, again designing the pros and cons of its use.
Students will gain an comprehension of the different types of taxes practicable to various businesses and individuals, the impact of this and business loss and tax relief, and how to manage and plan for the impact of tax on these groups. And finally, you will analyse and interpret financial notes (Ratio Analysis), understand what crucial financial ratios are, how they are used, and education how to prepare them and apply them to a business.