Introduction To Bookkeeping (ITBK)

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

Principles of Bookkeeping Controls (POBC)

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

Principles of Costing (PCTN)

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

The Business Environment (BENV)

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

As this unit is designed for the complete beginner, there are no prerequisites. However, you must have basic numerical skills and a good understanding of the English language.