You can complete this course in 24 months or less.

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

You need to hold a Level 3 AAT Accountancy qualification or equivalent. Please contact us if you hold a qualification or have experience in Bookkeeping and Accounts. We can then advise you on possible exemptions.

A good understanding of the English language is essential.