Financial Accounting

This Financial Accounting module will enable learners to gain the skills and knowledge in understand the terminology, principles, standards, and systems used in producing financial statements. Learners will understand how preparing financial statements can generate insights into a business entity's performance and identify areas for improvement.  Additionally, the module will teach learners how to record day-to-day transactions within a business.

Introduction to Financial Accounting 

• Accounting Standards, Principles & Policies
• Key users of Accounting Information
• Types of Business entities Programme structure
• Distinguish between Capital, Assets and Liabilities

Nominal Ledger Accounts           

• Converting day to day activities into accounts in the Nominal Ledger
• Calculating Closing Account Balances
• Extracting a Trial Balance

Preparing Financial Statements

• Interpreting the Trial Balance
• Accruals
• Prepayments
• Provision for Bad/Doubtful Debts
• Calculating Depreciation

Closing Stock Valuation

• First In First Out
• Last In First out
• Average Cost

Control Accounts 

• Bank Reconciliation Statements
• Purchases Control Account
• Sales Control Account

Final Accounts

• Partnerships
• Limited Companies

Interpretation of Financial Statements

• Calculation of Financial Performance Ratios
• Analysis of Financial Performance Ratios and
• Providing recommendations-based interpretation of Financial Statements