BOOKKEEPING - LEVEL 2 COURSE

Level 1:

The following topics are covered: Double entry bookkeeping; Revenue and capital items; The Journal; Balancing ledger accounts; and Trial balance.

The following topics are covered: Enter credit transactions into the ledgers; Parts of the ledger; Two-column cash book; and Analysed cash book.

The following topics are covered: Value Added Tax (VAT); Calculate VAT; Record VAT in the accounts; VAT inclusive figures; Trade and cash discount and its effect on VAT; Write off a bad debt; and understanding the effect of VAT.

The following topics are covered: Day books; Payroll transactions; and Errors of omission, commission, principal, original entry, reversal and compensation.

The following topics are covered: Double entry bookkeeping using control accounts; Petty Cash Imprest system; Three Column Cash Book; and Correction or errors including the Suspense Account.

The following topics are covered: Reconciling customer and supplier accounts; Control accounts; and Bank reconciliation.

The following topics are covered: Value Added Tax (VAT); Produce a VAT return; VAT Schemes (Annual VAT Returns, Flat Rate scheme, Retail Scheme); International Trade – Import and Export; EU VAT; Partial Exemption; Non-allowable expenses; and Fuel scale charge.

The following topics are covered: Trading, Profit and Loss Account; and Balance Sheet.

The following topics are covered: Adjustments; Depreciation; Prepayments and Accruals; Provision for Bad Debts; and Year End Ledger Entries.

Assessment:

You will be assessed on coursework which is detailed in the course materials. Most coursework consists of short paragraph answers to set questions. Your work can be sent back to your course tutor by email or by post.