This programme covers a range of complex accounting tasks, including maintaining cost accounting records and the preparation of reports and returns. You will learn and master a number of financial processes including:
- Accounting Principles and Concepts
- Advanced Bookkeeping
- Final Accounts
- VAT Issues in Business
- Management Accounting Costing Techniques
- Ethical Practices for Accountants.
You will need:
- Five GCSEs at grade 4 or above including English and maths (or Functional Skills in English and maths at Level 2)
- Accounting - Level 2
You will also have an interview with our course teachers at enrolment to check that the course is right for you.
There are four computer-based assessments. Assessments are taken throughout the academic year.
After completing this course, you'll be well-prepared for further study or employment in the industry, such as a Level 3 Extended Diploma, which can lead to university-level study.
Topics covered can include:
Preparing Financial Statements
You will gain the skills required to produce statements of profit or loss and statements of financial position for sole traders and partnerships using a trial balance. It will also allow you to understand how final accounts have been produced, either manually or automatically through use of accounting software.
Management Accounting Costing Techniques
This unit provides you with the knowledge and skills needed to understand the role of management accounting in an organisation, and how organisations use such information to aid decision making. You will learn the principles that underpin management accounting methodology and techniques, how costs are handled in organisations, and why organisations treat costs in different ways. You will be able to recognise different approaches to management accounting and provide informed and reasoned judgements to guide management. You will also learn how to apply these principles and appreciate why effective management accounting is crucial to any organisation.
Tax Processes for Business
For VAT, you will understand the registration and deregistration rules, including signing up for Making Tax Digital (MTD), and the rules relating to specialist VAT schemes. You will be able to recognise different types of supplies and calculate VAT correctly, understanding the importance of the rules relating to the recovery of input VAT and the sanctions and penalties for inaccuracies, omissions and failure to make submissions and payments within the correct timescales. you will be able to verify the accuracy of calculations, invoices and tax points, and will learn about the correction of errors. When learning about the content of the VAT return, you will understand how to apply special rules when goods and services are imported and exported out of the UK and the European Union (EU), and how to extract the appropriate data to complete VAT returns.
In relation to payroll, you will understand the processes for businesses involved in calculating pay and deductions and the content of documents and reports produced on software, along with the timescales for submission and payment.
Business Awareness
You will gain an understanding of the business, its environment and the influence that this has on an organisation’s structure, the role of its accounting function and its performance. you will examine the purposes and types of businesses that exist, and the rights and responsibilities of key stakeholders. you will learn what the micro- and macro-economic environments are and the impact and influence that changes in these environments can have on performance and decisions. This will include an understanding of the basic business law relating to the preparation of financial statements for different types of entities. You will learn about the concepts of risk, types of risk and risk management for a business.
Ethical Practices for Accountants
You will understand the importance of professional ethics and ethical management, and how the finance function interacts with other key business functions to enhance operational efficiency. You will learn the core aspects of the ethical code for accountants and will apply these principles to analyse and judge ethical situations which could arise in the workplace. You will also understand how acting ethically stems from core personal and organisational values, as well as understanding the legal and regulatory framework for anti-money laundering.
School Leavers (16-18)
If you will be 16, 17 or 18 years old on 31 August before your course starts, and you have the legal right to live in the UK for the full length of your study programme, your course will be free.
You may also be eligible for financial help to support with books, travel, course materials and childcare costs â please click here for more information.
