Accounting and Bookkeeping Diploma Course

Provided by Centre Of Excellence

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About the course

The Accounting and Bookkeeping Diploma Course takes those who have little or no knowledge in this area through the basics of accountancy and onto more complex concepts, principles, and practices.

There are practical examples and full explanations, students who complete this course will be equipped with a greater knowledge and be capable of understanding the basics of accountancy in their own or other businesses. This will enable them to attend to their own accounts or use the course as a feeder into specific areas or more advanced qualifications in accounting.

The course 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 concepts and principles every time you analyse, record, summarise, report and interpret financial transactions of a business.

As the main source from which financial statements are prepared, it is important to understand how to identify, record, and provide source documents of business transactions inline with a company’s financial policies and the industry-acceptable practice.

Students will learn 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 learn the basics of manufacturing, trading, profit and loss account, the Balance Sheet and the Cash Flow Statement. You will have an understanding of the subject, with the introduction of: work 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 learn the difference between accounts for profit-making and not–for-profit organisations, the technique for preparing receipts and payment accounts and income and expenditure 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 created and final accounts being prepared, adjustments are made. You will also learn 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 complete basic tasks and how cloud computing can be used in accounting, again outlining the pros and cons of its use.

Students will gain an understanding of the different types of taxes applicable to various businesses and individuals, the impact of this and company 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 statements (Ratio Analysis), understand what key financial ratios are, how they are used, and learning how to prepare them and apply them to a business.

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