Accountancy
Learning Outcomes
Accounting - Diploma units take students from the basic Accounting fundamentals to the various Accounting concepts used by the accountants for keeping records of the capital expenditure of a company. From understanding debits and credits and using simple T-Accounts to closing out the Accounts at the end of an Accounting period, producing the statement of retained earnings and balance sheet, you will learn how each step is completed.
Accounting course completion the learner should be able to;
- Explore the roles, advantages and limitations of contemporary corporate Accounting.
- Understand core duties and responsibilities of an Accountant
- Discuss four main types of financial statements;
- Identify and describe the three basic forms of business organizations;
- Understand how to work with t-Accounts and journals;
- Understand how to organize and record financial transactions;
- Outline the steps in the Accounting cycle;
- Explain how to close out a set of Accounts using a worksheet;
- Describe how to prepare a classified balance sheet;
- Understand what are sales variances, overhead variances, labour variances and cost variances
- Explain how to determine optimal cash balance.
Diploma Course Syllabus:
The Accountancy Diploma consists of the following units:
Unit 1 - Introduction to Accounting
This Accountancy unit covers the following key topics:
- Accounting and Finance
- Accounting
- Objectives of Accounting
- Scope of Accounting
- Functions of Accounting
- Advantages of Accounting
- Limitations of Accounting
- Evolution of Modern Accounting
- Branches of Accounting
- Modern View of Accounting
- Accounting Cycle
- Plus more
Unit 2 - The Role of An Accountant
This Accountancy unit covers the following key topics:
- Role of an Accountant
- Methods of Accounting
- Debit and Credit
- Types of Accounts
- Distinction between Book-Keeping and Accounting
- Organisation for Accounting and Finance
- Bases of Accounting
- Accounting Terminology
- Plus more
Unit 3 - Accounting Concepts and Standards
This Accountancy unit covers the following key topics:
- Concepts of accounting
- Accounting Framework
- Standards of accounting
- Plus more
Unit 4 - Journals and Subsidiary Books
This Accountancy unit covers the following key topics:
- Journal And Subsidiary
- Advantages of Journal
- Sub-Division of Journal
- Ledger
- Distinction between Journal and Ledger
- Subsidiary Books
- Basic Document for Subsidiary Books
- Advantage of Subsidiary Books
- Imprest System
- Plus more
Unit 5 - Profit And Loss Accounts
This Accountancy unit covers the following key topics:
- Statement of Profit and Loss
- Measurement of Income
- Preparation of Profit or Loss Account
- Plus more
Unit 6 - Balance Sheet
This Accountancy unit covers the following key topics:
- Balance Sheet
- Purpose of Financial Statements
- Prepare a Balance Sheet
- Assets
- Analyze a Balance Sheet
- Current Ratio
- Quick Ratio
- Working Capital
- Debt/Worth Ratio
- Plus more
Unit 7 - Cash Flow Statements
This Accountancy unit covers the following key topics:
- Cash Flow
- Initial Investment
- Cash
- Receivables
- Inventory, Supplies, and Prepaid Expenses
- Sources of Funds
- Funds from Operations
- Uses and Application of Funds
- Plus more
Unit 8 - Budgeting
This Accountancy unit covers the following key topics:
- Budget
- Financial Planning
- Budgetary Control
- Installing a Budgetary Control System
- Responsibility for Budgeting
- Key Factor
- Sales Work Sheet
- Fixed and Flexible Budgets
- Plus more
Unit 9 - Variance Analysis
This Accountancy unit covers the following key topics:
- Variance
- Types of Variance
- Direct Material Variances
- Computation of Labor Variances
- Control of Variances
- Variance Reporting
- Plus more
Unit 10 - Ratio Analysis
This Accountancy unit covers the following key topics:
- Classification of Ratio
- Norms for Evaluation
- Managerial Uses of The Primary Ratio
- Plus more
Unit 11 - Financial Management
This Accountancy unit covers the following key topics:
- Introduction to Financial Management
- Categories of Financial Management
- Scope of Financial Management
- Finance Functions
- Finance and Accounting
- Plus more
Unit 12 - Management of Working Capital
This Accountancy unit covers the following key topics:
- Significance of Working Capital
- Operating Cycle
- Concepts of Working Capital
- Kinds of Working Capital
- Components of Working Capital
- Importance of Working Capital Management
- Determinants of Working Capital Needs
- Approaches to Managing Working Capital
- Measuring Working Capital
- Working Capital Management Under Inflation
- Efficiency Criteria
- Plus more
Unit 13 - Investment Methods
This Accountancy unit covers the following key topics:
- Introduction to Investment Methods
- Types of Investment Proposals
- Project Report
- Methods of Appraisal
- Depreciation, Tax, and Inflows
- Cost of Capital
- Limitations of Investment Appraisal Techniques
- Plus more
