You can complete this course in 54 months or less.

Level 2

Unit 1 – Introduction to Bookkeeping

You will learn about manual and digital bookkeeping systems, including the associated documents and processes. You will learn the basic principles that underpin the double-entry system and see how some processes are being automated.

• Understand how to set up bookkeeping systems
• Process customer transactions
• Process supplier transactions
• Process receipts and payments
• Process transactions into the ledger accounts

Unit 2 – Principles of Bookkeeping Controls

Builds on your knowledge and skills from Introduction to Bookkeeping, and explore control accounts, journals and reconciliations. You will go through the processes used in bookkeeping that verify and validate the entries. These processes help you understand the purpose of control accounts and associated reconciliations. You will also understand the use of the journal to the point of redrafting the trial balance, following initial adjustments.

• Use control accounts
• Reconcile a bank statement with the cash book
• Use the journal
• Produce trial balances

Unit 3 – Principles of Costing

You will be introduced to the principles of basic costing and build a solid foundation in the knowledge and skills for more complex costing and management accounting.

You will learn the importance of the costing system as a source of information that allows management to plan, make decisions and control costs. You should recognise the key differences from a business perspective between costing and financial accounting.

• Understand the cost recording system within an organisation
• Use cost recording techniques
• Provide information on actual and budgeted costs and income
• Use tools and techniques to support cost calculations

Unit 4 – The Business Environment

The business environment is dynamic and changes constantly. You will need to understand the impact this environment has on organisations, from sole traders to large companies operating in local, national and global markets.

• Understand the principles of contract law
• Understand the external business environment
• Understand key principles of corporate social responsibility (CSR), ethics and sustainability
• Understand the impact of setting up different types of business entity
• Understand the finance function within an organisation
• Produce work in appropriate formats and communicate effectively
• Understand the importance of information to business operations

Level 3

Unit 1 – Business Awareness

You will gain an understanding of the business, its environment and its influence on an organisation’s structure. You will also learn the role of its accounting function and its performance.

• Understand business types, structures and governance, and the legal framework in which they operate
• Understand the impact of the external and internal environment on businesses, their performance and decisions
• Understand how businesses and accountants comply with principles of professional ethics
• Understand the impact of new technologies in accounting and the risks associated with data security
• Communicate information to stakeholders

Unit 2 – Financial Accounting: Preparing Financial Statements

You will gain the skills to produce statements of profit or loss, statements of financial position for sole traders, and partnerships using a trial balance. In your job, you may be required to prepare the final accounts and this unit will give you the theoretical knowledge needed to do this.

It will also allow you to understand how final accounts are produced, either manually or by using accounting software.

• Understand the accounting principles underlying final accounts preparation
• Understand the principles of advanced double-entry bookkeeping
• Implement procedures for the acquisition and disposal of non-current assets
• Prepare and record depreciation calculations
• Record period end adjustments
• Produce and extend the trial balance
• Produce financial statements for sole traders and partnerships
• Interpret financial statements using profitability ratios
• Prepare accounting records from incomplete information

Unit 3 – Management Accounting Techniques

You will learn about the role of management accounting and how organisations use this information to make decisions.

• Understand the purpose and use of management accounting within organisations
• Use techniques required for dealing with costs
• Attribute costs according to organisational requirements
• Investigate deviations from budgets
• Use spreadsheet techniques to provide management accounting information
• Use management accounting techniques to support short-term decision making
• Understand principles of cash management

Unit 4 – Tax Processes for Businesses

This unit explores tax processes that influence the daily operations of businesses. It helps you develop skills in understanding, preparing, and submitting value-added tax (VAT) returns to HM Revenue & Customs (HMRC).

You will gain the knowledge and skills to keep businesses compliant with laws and practices that apply to VAT and payroll. You will learn about legislation and the importance of maintaining technical knowledge by monitoring updates.

• Understand legislation requirements relating to VAT
• Calculate VAT
• Complete VAT returns
• Understand principles of payroll
• Report information within the organisation

Level 4

The mandatory units are:

Applied Management Accounting

This unit focuses on the three basic areas of management accounting: planning, control and decision-making.

All organisations need accurate, business-focused information to make sound judgements.

This unit will allow you to understand the budgetary process. You will be able to construct budgets and identify and report both on areas of success and on areas of concern. You will also gain the skills to critically evaluate organisational performance.

• Understand and implement the organisational planning process
• Use internal processes to enhance operational control
• Use techniques to aid short-term and long-term decision making
• Analyse and report on business performance

Drafting and Interpreting Financial Statements

You will gain the skills and knowledge to draft the financial statements of single limited companies. And you’ll learn how to draft the consolidated financial statements for groups of companies.

You will become proficient in your knowledge and understanding of international accounting standards.  You will apply this when you draft the financial statements. You will also understand the regulatory and conceptual frameworks that underpin the preparation of limited company financial statements.

• Understand the reporting frameworks that underpin financial reporting

• Draft statutory financial statements for limited companies
• Draft consolidated financial statements
• Interpret financial statements using ratio analysis

Internal Accounting Systems and Controls

All organisations must guard against fraud through good control systems. But, many businesses underestimate the probability and impact of employee fraud. The accounts department plays a vital role in preventing the misuse of resources, and this unit shows you how to evaluate internal controls and recommend improvements.

• Understand the role and responsibilities of the accounting function within an organisation
• Evaluate internal control systems
• Evaluate an organisation’s accounting system and underpinning procedures
• Understand the impact of technology on accounting systems
• Recommend improvements to an organisation’s accounting system

And choose two from the following optional units:

Business Tax

This unit introduces students to UK taxation relevant to businesses. You will understand how to compute business taxes for sole traders, partnerships and limited companies. You will also identify tax planning opportunities and understand the ethical standards.

• Prepare tax computations for sole traders and partnerships
• Prepare tax computations for limited companies
• Prepare tax computations for the sale of capital assets by limited companies
• Understand administrative requirements of the UK’s tax regime
• Understand the tax implications of business disposals
• Understand tax reliefs, tax planning opportunities and agent’s responsibilities in reporting taxation to HM Revenue & Customs

Personal Tax

You will gain essential knowledge of income tax, capital gains tax and inheritance tax. You will be ready to compute these taxes and appreciate how taxpayers can minimise their overall tax liability.

• Understand principles and rules that underpin taxation systems
• Calculate UK taxpayers’ total income
• Calculate income tax and National Insurance contributions (NICs) payable by UK taxpayers
• Calculate capital gains tax payable by UK taxpayers
• Understand the principles of inheritance tax

Audit and Assurance

You will gain an awareness of the audit process from planning and risk assessment to the final completion and production of the audit report.

You will also get a practical perspective on audit and assurance, with an emphasis on the application of audit and assurance techniques to current systems. You will be equipped with the skills to undertake an audit under supervision and will gain an understanding of the regulatory frameworks and ethical requirements.

• Demonstrate an understanding of the audit and assurance framework
• Demonstrate the importance of professional ethics
• Evaluate the planning process for audit and assurance
• Evaluate procedures for obtaining sufficient and appropriate evidence
• Review and report findings

Cash and Financial Management

This unit focuses on the importance of managing cash within organisations. It covers the knowledge and skills to make informed decisions on financing and investment in accordance with organisational policies and external regulations.

• Prepare forecasts for cash receipts and payments
• Prepare cash budgets and monitor cash flows
• Understand the importance of managing finance and liquidity
• Understand ways of raising finance and investing funds
• Understand regulations and organisational policies that influence decisions in managing cash and finance

Credit and Debt Management

You will learn how to apply the principles of effective credit control systems, including appropriate debt management systems.

• Understand relevant legislation and contract law that impacts the credit control environment
• Understand how information is used to assess credit risk and grant credit in compliance with organisational policies and procedures
• Understand the organisation’s credit control processes for managing and collecting debts
• Understand different techniques available to collect debts

There are no prerequisites, but you need to have a good understanding of the English language.

If you have any questions please contact us.