Accounting & Finance in Business & Management

Module 1 - The Need for Complete and Accurate Accounting Information

·The need for full and accurate accounting information

·Functions of accounting: recording and analysing transactions; reports and statements

·Limitations of  financial statements

·Accounting terms and meanings

Module 2 - Capital and Business Finance

·Initial capital and financing businesses; sole proprietors, partnerships, companies

·Working capital, income & expenditure, cash flow and liquidity

·Financial decisions and investments

·Financial assets, gearing and risk; investment appraisal

Module 3 - Principles of Bookkeeping and Books of Account

·Principles of bookkeeping, the ledge, double-entry bookkeeping

·Books of account: cash book, sales book, purchases book, returns books, journals

·The trial balance, manual and computerised accounts

·Bank accounts: current, deposits, savings, interest

Module 4 - Final Accounts (1)

·Financial accounting concepts

·Goodwill, prepayments and accruals

·Trading and manufacturing accounts

·Statistics, percentages and ratios

Module 5 - Final Accounts (2)

·Profit & loss accounts; information, layout, interpretation

·Balance sheets; information, layout, interpretation, equity

·Analysis, ratios, calculations

·Gross profit, net profit, wealth; stock turnover

Module 6 - Principles of Costing

·Purposes, benefits and limitations of cost accounting; key terminology

·Different costing systems explained

·Overheads and allocation

·Standards, variances, activity based costing

Module 7 - Planning and Forecasting, Budgets and Budgeting

·Business objectives, policy formulation; interpretation and implementation

·Financial planning and forecasting

·Budgets and budget preparation; sub-budgets and the master budget

·Budgetary control, variances; inflation

Module 8 - Stock and Inventory Control

·Stock management and control; inventory costs

·Factors affecting the management of stocks and inventory

·Stock levels; factors affecting levels set; types of levels

·Stocktaking and valuation of stocks and work in progress

Module 9 - Credit, Credit Control, Discounts

·Types and common forms of credit

·The role and importance of credit

·Credit control, credit limits and creditworthiness, dangers and bad debts

·Discounts: types, purposes, accounting treatment

Module 10 - Partnership, Department, Branch & Hire Purchase Accounts; Payroll Management

·Special features of business partnership accounts, goodwill

·Departmental accounts - analysis, apportioning expenses; Branch accounts - centralised, decentralised, consolidated trading, p&l and balance sheets

·Hire purchase, accounting treatment, agreements

·The payroll cycle, earnings, tax and deductions, withholdings, employer responsibilities, company returns, pay slips

Module 11 - Interpretation of Final Accounts, Pricing Policy, Auditors and Auditing

·Working capital management, cash and funds flows, liquidity, borrowing

·Accounting ratios, interpretation & analysis, break-even analysis

·Pricing policy, factors influencing selling prices

·Auditing and auditors; duties, activities

Module 12 - Computerised Accounting Systems and ‘Packages’

·Computers in accounting, characteristics of computers and systems

·Components of accounting systems; hardware, software, databases

·Applications and advantages of computerised accounting

·Organisation and security of data; management information