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Accounting and Bookkeeping Diploma Course

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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. With 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 or other’s business 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.

What You'll Learn from the Accounting and Bookkeeping Diploma Course

This course guides you through 10 comprehensive modules:

  1. Introduction to Accounting
  2. Basic Accounting Assumptions, Concepts & Principles
  3. Capturing and Recording Business Transactions
  4. Transforming Transaction Data to Useful Accounting Information (I)
  5. Transforming Accounting Data to Accounting Information (II)
  6. Accounting for Not-for-Profit Organisations
  7. Adjustment Entries to Final Accounts
  8. Using Computers in Accounting
  9. Business and Tax
  10. The Analysis and Interpretation of Financial Statement (Ratio Analysis)

The Accounting and Bookkeeping Diploma Course starts off with an introduction to accounting. This extended preamble gives students a greater understanding of the subject as a whole, before getting into the finite details. This gets all the broader questions out the way early on, telling students why accounts and bookkeeping are done, who uses the information, and how it is used.

The second module of 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. The third module gives and in-depth explanation of the Accounting Information Cycle.

Module 4 of the Accounting and Bookkeeping Diploma Course expands upon the Accounting Information Cycle even further. Trial Balance and General Ledgers are also introduced here, and the importance of converting transactional to accounting information, in a standardised manner is stressed.

The fifth module discusses the Holy Grail of accounting: final accounts, which consists of: manufacturing, trading, profit and loss account, the Balance Sheet and the Cash Flow Statement. This module deepens student’s 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.

Module 6 of the Accounting and Bookkeeping Course focusses solely on producing accounts for Not-for-Profit organizations. This module teaches 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. The seventh module of the course outlines what adjusting entries are, the different types and treatments of these, when and where to make adjusting entries, and what tools can be used to complete this.

The eighth module of the Accounting and Bookkeeping Course discusses the massive impact that technology has had on accounting. Students are informed about the major 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.

In accounting, tax is something that must be understood, and that is what the entirety of module 9 sets out to do. Through this module, 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.

The final module of the Accounting and Bookkeeping Diploma Course teaches students how to analyse and interpret financial statements (Ratio Analysis). This module involves understanding what key financial ratios are, how they are used, and learning how to prepare them and apply them to a business. This will result in students being able to interpret financial statements to be able to draw out valid conclusions, through comparisons to prior years, forecasts and competitors, and the use of sales and expense figure comparisons, asset and liability balances and cash flows, to perform this analysis.

Who Would Benefit from the Course?

The Accounting and Bookkeeping Diploma Course is aimed at those who wish to pursue a career in accounting but would like to learn some of the core principles, before committing financially to a more involved course. That said, this is a comprehensive course that will be especially useful to business owners who wish to do their own accounts or to at least understand them better.

Frequently Asked Questions

The Accounting and Bookkeeping Diploma Course will take you up to 150 hours to complete working from home. There is no time limit for completing this course, it can be studied in your own time at your own pace. The course comes with a course assessment in the form of quizzes, written questions and short essays, once you have completed your course assessment please email or post it back to us for marking, you will then receive your feedback and certificates.

This course is certified by the IANLPC (International Association of NLP & Coaching) and the IAHT (International Alliance of Holistic Therapists), both of which are internationally recognised organisations. The IAHT certify personal development, health, fitness and nutrition courses. The IANLPC is a global support network for NLP Professionals and coaches, including the fields of Life Coaching, Hypnotherapy Business Coaching, Leadership, Nutritional, CBT, Personal Development and Holistic Therapy.

Course Syllabus

Module 1: Introduction to Accounting

  • Table of Contents
  • Learning Objectives
  • Brief history of Accounting
  • What is Accounting?
    • Why do we Need Accounting?
    • Users of Accounting Information
    • Difference between Book keeping and Accounting
    • How are they related?
  • From Transaction to Information
    • Characteristics of good accounting information
  • Summary
  • Module 1 Assessment Test Questions

Module 2: Basic Accounting Assumptions, Concepts & Principles

  • Table of Contents
  • Learning Objective
  • Introduction
  • Why is it important to have Basic Accounting Concepts?
  • Basic Accounting Assumptions
    • Separate Entity Assumption
    • Money Measurement Assumption
    • Accounting Period Assumption
    • Going Concern Assumption
  • Basic Accounting Concepts
    • Dual Aspect Concept
    • Revenue Realisation Concept
    • Historical Cost Concept
    • Matching Concept
    • Full Disclosure Concept
    • Verifiable and Objective Evidence Concept
  • The Double Entry System
    • The Double Entry Principle
    • The Single Entry System
    • Double Entry Bookkeeping
    • Working out debits and credits
  • Summary
  • Module 2 Assessment Test Questions

Module 3: Capturing and Recording Business Transactions

  • Table of Contents
  • Learning Objectives
  • Introduction
  • Business Transactions and how they are processed
    • Transaction, transaction data and why they are important
    • The Accounting Information Cycle
  • Identifying, Recording, Classifying, Summarising, Analysing and Communicating
  • Source Documents
    • Invoice or Bill
    • Receipt
    • Debit Note
    • Credit Note
    • Pay-in-Slip
    • Cheque
    • Voucher
  • Books of Original Entry
    • Journals
  • Steps in creating Journal entries
  • Illustrations of Journal Entries
  • Cash Book
    • Cash Book Features
    • Benefits of the Cash Book System
  • Petty Cash Book
    • Benefits of a Petty Cash Book
    • Example
    • Solution - Petty Cash Account
  • Illustrations in Capturing and Recording Business Transactions
  • Solutions to Illustrations in Capturing and Recording Business Transactions
  • Summary
  • Module 3 Assessment Test Questions

Module 4: Transforming Transaction Data to Useful Accounting Information (I)

  • Table of Contents
  • Learning Objective
  • Introduction
  • The Accounting Information Cycle (I)
  • The General Ledger
    • GL in more detail
    • GL Main Account and Sub-Accounts
    • Examples of GL Main and Sub-Accounts
  • Basic Accounting - The Trial Balance
  • Summary
  • Module 4 Assessment Test Questions

Module 5: Transforming Accounting Data to Accounting Information (II)

  • Table of Contents
  • Learning Objectives
  • Introduction
  • The Final Accounts
  • Manufacturing Account
    • Major Components of Manufacturing Account
    • Calculation of Cost of Goods Sold
  • Trading, Profit and Loss Account
    • Format of a Trading Account
    • Elements of the (Debit Side) of a trading Account
    • Elements of the of the trading Account (Credit Side)
    • Equation of Trading Account
  • Profit and Loss Account
    • 5.4.1 Trading Profit and Loss a/c (T-account Format)
  • Balance Sheet
    • Classification of Assets Liabilities and Shareholder Equity
    • Balance Sheet format (Horizontal)
    • Balance Sheet format (Vertical)
  • Bringing the Balance Sheet together
  • Summary
  • Module 5 Assessment Test Questions

Module 6: Accounting for Not-for-Profit Organisations

  • Table of Contents
  • Learning Objective
  • Introduction
  • What is a Not-for-Profit Organisation?
  • Typical Not-for-Profit Organisation Sources of Income
  • Difference between Profit Oriented Organisations and Not-For-Profit Organisation
  • Reporting of Not-for-Profit Organisations
    • Receipts and Payments Account
    • Income and Expenditure Account
    • Balance Sheet
  • Treatment of Special Items
    • Donations
    • Legacy
    • Life Members Fee
    • Entrance Fee (Admission Fee)
    • Sale of Old Sports Materials and Old Newspapers
    • 6Purchase of Equipment
    • Honorarium Paid
    • Subscription
    • Special Fund
    • Sale of Old Assets
  • Some Important Adjustments
    • Subscription
    • Expenses
    • Consumable Items
  • Summary
  • Module 6 Assessment Test Questions

Module 7: Adjustment Entries to Final Accounts

  • Table of Contents
  • Learning Objectives
  • Introduction
  • What are Adjusting Entries?
  • Types and Treatment of Adjusting Entries
    • Closing Stock
    • Outstanding Expenses
    • Prepaid Expenses
    • Accrued Income
    • Income Received in Advance
    • Depreciation
    • Interest on Capital
    • Interest on Drawings
    • Bad debts
    • Provisions for Doubtful Debts
    • Provision for Discount on Debtor
    • Provision for Discount on Creditors
  • Summary of Types and Treatment of Adjusting Entries
  • The difference between the P&L and Balance Sheet
  • Summary
  • Module 7 Assessment Test Questions

Module 8: Using Computers in Accounting

  • Table of Contents
  • Learning Objectives
  • Introduction
  • The Role of Technology in Data Capture and Processing
  • Computerised Accounting Options
  • Spreadsheets
    • Types of Spreadsheets
    • Using Spreadsheet for your accounting
    • Challenges of using Spreadsheets
  • Accounting Computing Software (ACS)
    • Types of Accounting Computing Software
  • Common Set up Considerations
    • Company Setup
    • Bank Set up
    • Chart of Accounts
  • Summary
  • Module 8 Assessment Test Questions

Module 9: Business and Tax

  • Table of Contents
  • Learning Objectives
  • Introduction
  • Importance of Taxes
  • Types of taxes
  • Corporation Tax
  • Value Added Tax
  • Pay as You Earn (PAYE)
  • National Insurance Contribution
  • Corporation Tax Payment Process
    • Self-assessment
  • Dividend Income
    • Dividend tax Illustration
  • Company Losses
    • Trading Losses
  • Taxation of Not-for-Profit Organisations
  • Summary
  • Module 9 Assessment Test Questions

Module 10: The Analysis and Interpretation of Financial Statement (Ratio Analysis)

  • Table of Contents
  • Learning Objectives
  • Introduction
  • Financial Analysis
    • Overview
    • Users of Financial Statement Analysis
    • Methods of Financial Statement Analysis
  • Financial Interpretation - Ratio Analysis
    • Liquidity ratios
    • Profitability ratios-
    • Investment ratios
    • Activity ratios
    • Leverage (Gearing) ratios
  • Limitations of Ratio Analysis
  • Summary
  • Module 10 Assessment Test Questions

Our courses include comprehensive support, should you require any assistance. You can contact our friendly course advisers by telephone or by email.

Contact Details

Continued Learning

All course delegates are welcome to attend our regular, ongoing learning and inspirational events. We also hold regular inspirational events in Manchester and London for all students studying any of our courses. The events are a great way to watch live demonstrations of different techniques, learn new skills, have a practice with other students and to meet your tutors. Once you've signed up for any of our courses you will receive details of our different monthly events via email. If you cannot attend our events you can watch a live streaming of the event on our tv channel.

All courses can be paid for using our secure online payment system or via paypal. 

 

If you would prefer to pay via bacs payment or via cheque please email us at enquiries@coecourses.com or call us on 0800 955 6808 for more assistance.

 

All of the online course materials are emailed over to you as e-documents, if you would prefer a hard copy of the course materials to be posted out to you please select this when checking out.