ACCA Diploma in Financial and Management Accounting (RQF Level 3)

Our aim is to offer people who are very new to accounting the opportunity to progress through the early stages of the ACCA qualification framework using the Foundations in Accountancy Programme. The option will be made available to complete all three levels within one calendar year.

This course offers a fully accredited qualification in its own right, recognised by ACCA, and very importantly; employers. It is also the second stage of the Foundations in Accountancy Programme which will lead you onto the ACCA Applied Skills and Strategic Professional Levels.

ACCA Diploma in Financial and Management Accounting (RQF Level 3)

This is the second level of qualification within the Foundations programme. To attain the full Level 3 Diploma in Financial and Management Accounting you will be required to complete the Managing Financial Records unit (FA2) and the Managing Costs and Finance unit (MA2). The level 3 qualification will be equivalent to A Level standard.

Unit: Managing Financial Records (FA2)

The aim of this unit is to develop a knowledge and understanding of underlying principles and concepts relating to maintaining financial records, and technical proficiency in the use of double entry accounting techniques, including the preparation of basic financial statements

Syllabus Content: On successful completion of this unit, candidates should be able to:

• Explain generally accepted accounting principles and concepts
• Outline the principles and process of basic bookkeeping
• Prepare journals and ledger accounts
• Record transactions and events
• Prepare a trial balance (including identifying and correcting errors)
• Reconcile control accounts and cashbook
• Extend the trial balance, process year-end adjustments and prepare final accounts
• Account for partnerships

Unit: Managing Financial Records (MA2)

The aim of this unit is to develop a knowledge and understanding of how to prepare, process and present basic cost information to support management in planning and decision-making in a variety of business contexts.

Syllabus Content: On successful completion of this unit, candidates should be able to:

• Explain the role of costing within the organisation and how costs are classified
• Describe and record costs by classification
• Explain and apply cost accounting techniques
• Use management accounting techniques to make and support decision-making
• Explain principles of cash management

Cost includes: Classroom structured tuition, all study resources, additional on-line support, full mock assessment.

Additional cost: Exam booked with external exam centre. Current price approximately £90 per exam.

ACCA membership: To be eligible to study any ACCA qualification you must be a fully paid member of the association. Costs will be quoted on the ACCA website.

The course is not for the faint-hearted and requires dedication on your part to want to progress through the levels to where you need to be. It is, without question, a fact that qualifications in the field of accountancy will open doors to earning very good salaries and future promotions.

On our part we will offer you excellent support throughout your studies from our dedicated team of tutors. Our aim is to watch you progress, and grow in confidence to succeed at all levels.

What we offer:

• Fully qualified tutors with current recognised teaching qualifications
• Accredited qualifications in the ACCA Accounting Programme of study
• Maximum of 6 students to each class to ensure individual support
• Access to the most current software
• A secure environment for learning
• Daytime and evening study options
• Three to six hour teaching sessions each week
• Additional one to one support, should it be needed
• All the resources required to achieve success
• Comfortable classrooms with access to refreshments
• Accessible premises on major public transport routes in Liverpool, and from around the North West
• Free secure parking

This course is designed for those individuals who already hold a Level 2 accounting qualification, and are aiming to move up to the next rung of the ladder into an accounting career. As it is classroom based it offers structured learning with one to one support, something that distance learners find difficult to obtain.

Is this the right course for you?

Check through this list of questions and if you answer 6 or more with a Yes response then this may be the course for you.

1. Have you successfully completed a recognised Level 2 Accounting course? (Mandatory Yes answer)
2. Are you comfortable using a computer?
3. Would you like to acquire the skills and knowledge required to be employed in an accounting role?
4. Are you currently employed in an accounts position and require a qualification to support your work experience?
5. Are you returning to work in an accounting environment and need to refresh your understanding of accounts at Level 3?
6. Would you like to change, or enhance, your existing work role to develop your accounting skills to become a fully qualified accountant through ACCA?
7. Are you able to attend every session of the course?
8. Are you wanting to complete all three levels of the Foundations in Accountancy within one calendar year?
9. Do you feel comfortable working with numbers?
10. Are you able to travel to the course premises in Liverpool without any difficulty?

You will be required to have completed a Level 2 Accounting qualification. It is also important that you have good basic skills in numeracy and literacy which will be assessed during the enrolment process. It would be to the individual’s advantage to have some work experience in an office environment, although this is not mandatory.

Length of course 12 weeks (excluding exam)

Study options Morning, afternoon or evening sessions

Duration of session 3 hours for each unit

Assessment method: Computer based exam for each unit. 50 multiple choice / computational questions. 2 hours in length. Pass mark 50%

Should you be working in an accounting environment you will find that this qualification gives you a very good knowledge of the theory of accounting and double entry. If you are keen to move into accountancy and have good literacy and numeracy skills this qualification will provide you with excellent employment prospects. Salaries from £18,000 to £22,000 based upon experience and qualifications.