Home Newsletters Conference Qualifications Introduction Regulations Module Precriptions [ .. Back .. ] Forum Job Vacancies

Information and Communications Technology Qualifications | Back to list of Prescriptions Prescription: AA500 (AA100) Applied Accounting Aim of Module To provide students with a knowledge of concepts and techniques of financial accounting. Credits 7 Student Learning hours 70 Content Revised 2000 Prescription Expiry Date Nov 2005 Level and Assessment Schedule Topics Highest Skill Level Suggested Assessment Percentage 1 Definition of terms C 5 2 Recording Information A 55 3 Cash Records A 5 4 Balance Day Entries A 20 5 Balance Sheets and Revenue Accounts A 15 100 The Student Will 1 Definition of terms R 1.1 Define common accounting terms. R 1.2 Identify the main users of accounting information. - management - tax gatherers - shareholders - creditors - monetary authorities C 1.3 Explain the main limitations of accounting statements, eg: - ignore non-monetary items - historic cost - value judgements top 2 Recording Information A 2.1 Process direct entries to ledger accounts from prime records. C 2.2 Explain the relationship between prime records and ledger printouts when the recording is by computer. A 2.3 Process business transactions on a computerised accounting system. A 2.4 Produce transactions listings and reports from the transactions processed in 2.3. A 2.5 Reconcile control accounts for subsidiary ledgers. A 2.6 Adjust errors using general journal. top 3 Cash Records A 3.1 Prepare a bank reconciliation statement. top 4 Balance Day Entries C 4.1 Explain the need for balance day adjustments. C 4.2 Explain the handling of accruals and prepayments. C 4.3 Describe the nature of depreciation and outline methods of calculation. C 4.4 Compare methods of inventory valuation and their effect on profits. A 4.5 Prepare manual stock cards using LIFO, FIFO and WAC. A 4.6 Adjust a simple trial balance. top 5 Balance Sheets and Revenue Accounts C 5.1 Classify items on a Balance Sheet: - current assets and liabilities - term assets and liabilities - intangibles - capital and reserves C 5.2 Discuss items in trading or manufacturing accounts. - cost of sales - gross profit C 5.3 Identify items in Profit and Loss accounts. - operating expenses - net profit before/after tax C 5.4 Discuss differing forms of layouts of these accounts. A 5.5 Prepare a Statement of Financial Position and a Revenue Statement from an adjusted Trial Balance for a simple example. top | Home | Newsletters | Conference | Qualifications | Forum | Job Vacancies |