This course is a natural progression from our Bookkeeping Foundations course which focused on accounting for small businesses within the service industry. This online course will focus mostly on accounting for Trading firms and the various differences between recording and reporting.
This course will teach you to:
- Implement a recording system for an enterprise, including the Continuous and Physical methods of recording transactions involving stock
- Describe and use control accounts appropriately
- Prepare, analyse and interpret financial reports for trading firms, including those with more than one selling department
- Outline alternatives in financing for small businesses including alternative business structures
- Illustrate alternative accounting approaches available to a variety of businesses
Course Structure
The duration of this online course is 100 hours. This consists of 10 in-depth lessons:
- Introduction – Review of Accounting Foundations (add business types)
- Decision Making – How to Manage Your Bookkeeping
- Managing Cash Flow, Obtaining Finance and Managing Bad Debts
- Managing the Inventory Part 1
- Managing the Inventory Part 2
- Profit and Loss
- Establishing and Managing Control Accounts
- Budgeting Part 1
- Budgeting Part 2
- Financial Statement Analysis
Course Aims
- Describe the nature of different businesses, and the differences between recording and reporting
- Describe the nature of stock and the physical system of recording inventory
- Explain the perpetual or continuous system of recording for inventory
- Distinguish between the main methods for valuing merchandise
- Describe the difference between bad debts and doubtful debts
- Explain how to prepare the journal entries and understand the effect of bad debts on final accounting reports
- Develop your understanding of control accounts and their uses
- Explain of the use of budgets and to apply the skills learned
- Explain the use and role played by statements of cash flows
- Explain the different accounting alternatives available to business and the advantages and disadvantages of the various alternatives
- Describe the tools used to measure the key areas of performance and financial position of a business and how they can aid in decision making
- Describe the different sources of finance available to businesses, other methods of expanding a business
HOW DOES A WARNBOROUGH ONLINE COURSE WORK?
You can start the course whenever is convenient for you. You will be studying from home and have access to support from our qualified tutors. Practical exercises and research tasks will be set at the end of each lesson – including an assignment. You will submit this assignment to your course tutor, who will mark your work and give you constructive feedback and suggestions.
If you have any questions please contact us.
