Diploma in Accounting and Business

Diploma in Accounting and Business - ACCA Course Outline

Module 1 Recording Financial Transactions (FA1)
· How accounting systems work.
· Types of business transactions and documentationBanking system and transactions
· Payroll
· Ledger accounts
· Cash and bank
· Sales and credit transactions
· Purchases and credit transactions
· Reconciliation
· Preparing the trial balance
· Duality of transactions and the double entry system

Module 2 Management
Information (MA1)
· Cost and management accounting
· Basic cost information for management accounting.
· Collecting and recording cost information
· Revenue information for planning and control
· Systems for management accounting
· Source documents in costing systems
· Costs by nature, behaviour and purpose
· Costs for material, labour and expenses Actual and expected costs
· Spread sheet system in Microsoft excel

Module 3 Maintaining Financial Records (FA2)
· The fundamental principles of accounting
· Techniques for maintaining accounting records
· Ledger accounts, sales tax records, control accounts, reconciliations.
· Extracting and correcting an initial trial balanceProducing an extended trial balance
· Accounting for the business transactions of sole traders and partnerships
· Outlining the principles and process of basic bookkeeping
· Preparing journals and ledger accountsRecording transactions and events
· Preparing trial balance including identifying and correcting errors
· Reconciling the control accounts and cashbook
· Extending the trial balance, year-end adjustments and final accounts

Module 4 Managing Costs and Finances (MA2)
Recording, analysing and reporting costs and revenues
· Using costs and revenues for internal management purposes
· Cost concepts and their role in making short term decisions
· The application of spreadsheets in management accounting
· The role of costing within the organisation and how costs are classified
· Classification of costs
· Cost accounting techniques
· The use management accounting techniques to make and support decision making Principles of cash management

Module 5 Management Accounting (FMA)

· Management accounting concepts for decision making, planning and control
· The use and function of forecasting techniques, the preparation of budgets
· Standard costs and performance measurement.
· The nature, source and purpose of management information
· Explain and apply cost accounting techniques
· The role of budgets for planning and control
· Comparing actual costs with standard costs and variance analysis
· Analysis, interpretation and monitoring of business performance

Module 6 Accountant in Business (FAB)
· Aspects of the regulatory framework as they affect auditing and governance
· The roles of internal and external auditors and the importance of internal control
· Key organisational management and people issues
· External environment issues: economic, legal, and regulatory, employment, health and safety, data protection and security
· Business organization structure functions and the role of corporate governance
· The function of accountancy and audit in communicating and assuring financial information
· Accountancy for effective financial control and compliance the principles of authority and leadership
· Recruitment of teams and individuals and how they are, managed, motivated and developed
personal effectiveness as the basis for effective team and organisational behaviour
· Accepted professional ethics and professional values

Module 7 Financial Accounting (FFA)
· The underlying principles and concepts that relate to financial accounting
· Further knowledge of the double entry system
· Preparation and interpretation of basic financial statements
· Financial information for sole traders, companies and simple groups of companies
· Explain the content and purpose of financial reporting
· Define the qualitative characteristics of financial information
· Demonstrate the use of double-entry and accounting systems Recording transactions and events
· Prepare a trial balance (including identifying and correcting error)
· Prepare basic financial statements for incorporated entities
· Prepare simple consolidated financial statements Interpretation of financial statements