This module aims to build on the knowledge of basic accounting concepts, terminology, principles and
formats acquired in Financial Accounting 1. In particular it aims to improve knowledge of accounts
preparation for a range of different types of business.
Preparation of Financial Statements
Preparation of accounts for company for internal use: income statement, balance sheet, retained earnings element of SOCE.Preparation of Manufacturing Accounts and basic division of overheads by department. Preparation of accounts for not-for profit organisations.
Accounting for Property, Plant & Equipment
Preparation of ledger accounts for recording PPE movements including opening balances, additions, disposals and depreciation entries.
Control Accounts
Preparation of control accounts for Trade Receivables,Trade Payables and Bank account to ensure the accuracy of the financial records.
Correction of Errors
Identification, investigation and correction of errors in accounting records and financial statements.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 70 |
| Other Assessment(s) | 30 |