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Bookkeeping Applications

Statement of AchievementPlease enquire for prices and more information
Course Duration: 100 Hours
DeliveryOnline
Course REF: BBS203

Bookkeeping Applications Outline

This course is a natural progression from Bookkeeping Foundations which focused on accounting for small businesses within the service industry. This course will look at accounting for Trading firms and the differences between recording and reporting. It consists of 10 lessons.

This course will teach you to:

  • Outline and implement a recording system for an enterprise, including the ‘physical’ and ‘continuous’ methods of recording transactions involving stock.
  • Describe and use control accounts
  • Prepare, analyse and interpret financial reports for trading firms, including those with more than one selling department
  • Outline alternatives in financing for small businesses including alternative business structures
  • Describe and illustrate alternative accounting approaches available to a variety of business

Lesson Structure

There are 10 lessons as follows

  1. Introduction - Review of Accounting Foundations (add business types)
  2. Decision Making -  How to Manage Your Bookkeeping
  3. Managing Cash Flow, Obtaining Finance and Managing Bad Debts
  4. Managing the Inventory Part 1
  5. Managing the Inventory Part 2
  6. Profit and Loss
  7. Establishing and Managing Control Accounts
  8. Budgeting Part 1
  9. Budgeting Part 2
  10. Financial Statement Analysis

 

Each lesson ends with an assignment which is submitted to the school, marked by the school's tutors and returned to you with any relevant suggestions, comments, and if necessary, extra reading.

 


Aims

  • Describe the nature of different businesses, and the differences between recording and reporting for trading businesses and service businesses.
  • Describe the nature of stock and the physical system of recording inventory.
  • Explain the perpetual or continuous system of recording for inventory, the use of stock cards and methods of stock valuation.
  • Distinguish between the main methods for valuing merchandise on hand and the procedures that need to be set up in order to maintain the different systems.
  • Distinguish between bad debts and doubtful debts
  • Explain how to prepare the journal entries and understand the effect of bad debts on final accounting reports.
  • Extend your knowledge of the classification in accounting reports and how it is applied to trading firms.
  • Acquire an understanding of control accounts and their uses.
  • Explain of the use of budgets and to apply the skills learned.
  • Explain the use and role played by statements of cash flows.
  • Explain the different accounting alternatives available to business and the advantages and disadvantages of the various alternatives.
  • Describe the tools used to measure the key areas of performance and financial position of a business and how they can aid in decision making.
  • Describe the different sources of finance available to businesses, other methods of expanding a business

Bookkeeping Applications

Statement of AchievementPlease enquire for prices and more information
Course Duration: 100 Hours
DeliveryOnline
Course REF: BBS203