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Diploma in Accounting And Finance

Duration: 12 Months (Flexible)

Awarded by: LONDON COLLEGE OF HIGHER EDUCATION, UK

Program Synopsis:

This course teaches how to accurately record accounting and financial transactions and how to analyse their effects; it explains how to manage and prepare accurate, professional final accounts, and how to interpret accounting data to control the enterprise and to manage costs, working capital and profits. It covers how to manage finances and raise new finance. It deals with bookkeeping, cost accounting and budgeting, investment and risk, and teaches how to make effective use of accounting data to make good financial decisions. This Diploma is a “must have” qualification for people looking to advance in this field, and to rise to middle and higher level accounting and finance posts in business, commercial or public service

Module 1 - The Need for Complete and Accurate Accounting Information

  • The need for full and accurate accounting information
  • Functions of accounting: recording and analysing transactions; reports and statements
  • Limitations of financial statement
  • Accounting terms and meanings

Module 2 - Capital and Business Finance

  • The need for full and accurate accounting information
  • Functions of accounting: recording and analysing transactions; reports and statements
  • Limitations of financial statement
  • Accounting terms and meanings

Module 3 - Principles of Bookkeeping and Books of Account

  • Principles of bookkeeping, the ledge, double-entry bookkeeping
  • Books of account: cash book, sales book, purchases book, returns books, journal
  • The trial balance, manual and computerised accounts
  • Bank accounts: current, deposits, savings, interest

Module 4 - Final Accounts (1)

  • Financial accounting concepts
  • Goodwill, prepayments and accruals
  • Trading and manufacturing accounts
  • Statistics, percentages and ratios

Module 5 - Final Accounts (2)

  • Profit & loss accounts; information, layout, interpretation
  • Balance sheets; information, layout, interpretation, equity
  • Analysis, ratios, calculations
  • Gross profit, net profit, wealth; stock turnover

Module 6 - Principles of Costin

  • Purposes, benefits and limitations of cost accounting; key terminology
  • Different costing systems explained
  • The trial balance, manual and computerized accounts
  • Overheads and allocation

Module 7 - Planning and Forecasting, Budgets and Budgeting

  • Business objectives, policy formulation; interpretation and implementation
  • Financial planning and forecasting
  • Budgets and budget preparation; sub-budgets and the master budget
  • Budgetary control, variances; inflation

Module 8 - Stock and Inventory Control

  • Stock management and control; inventory costs
  • Factors affecting the management of stocks and inventory
  • Stock levels; factors affecting levels set; types of levels
  • Stocktaking and valuation of stocks and work in progress

Module 9 - Credit, Credit Control, Discount

  • Types and common forms of credit
  • The role and importance of credit
  • Credit control, credit limits and creditworthiness, dangers and bad debts
  • Discounts: types, purposes, accounting treatment

Module 10 - Partnership Accounts, Departmental and Branch Accounts, Hire Purchase

  • Special features of business partnership accounts, goodwill
  • Departmental accounts; purposes, analysis, apportioning expenses
  • Branch accounts; centralized, decentralized, consolidated trading, p&l and balance sheets
  • Hire purchase, accounting treatment, agreements

Module 11 - Interpretation of Final Accounts, Pricing Policy, Auditors and Auditing

  • Working capital management, cash and funds flows, liquidity, borrowing
  • Accounting ratios, interpretation & analysis, break-even analysis
  • Pricing policy, factors influencing selling prices
  • Auditing and auditors; duties, activities

Module 12 - Computerized Accounting Systems and ‘Packages’

  • Computers in accounting, characteristics of computers and systems
  • Components of accounting systems; hardware, software, databases
  • Applications and advantages of computerized accounting
  • Organisation and security of data; management information

This Program Is Designed For Professionals:

The course is ideal for bookkeepers, accountants, financial officers and business people who are already employed in accounting and finance jobs, and also for men and women looking to enter this important career area. It is also a course for men and women wishing to gain promotion, to become accounting managers, or simply looking to increase managerial ability and skills in accounting and finance. All managers, administrators, entrepreneurs, business people and executives benefit greatly from a good understanding of the accounting and finance function; it is a “must have” qualification for people looking to advance in this field, or to middle and higher level business or management posts. The range of career opportunities for skilled and qualified financial and accounts personnel is huge, whether in general accounting and finance fields or in more specialist areas.

Knowledge of accounting and finance is of great value for progression in higher studies (whether with London College of Higher Education or other institutions) almost all of which require such knowledge. Our College itself offers advancement in these fields in both general and specialized areas, and such studies are good routes to higher studies with other regional and international educational establishments and universities