Online Accounts Assistant Training- Level 3 Diploma in Accounting

Designed to give learners the knowledge and skills required to carry out advanced period end bookkeeping and accounting routines, both manually and using a computerised accounting package, and also to effectively manage the cash balances of a business.

The qualification is made up of:

2 – Online Knowledge Test
3 – Online Assignments
2 – Examinations

Key information:

205 GLH (Guided Learning Hours)
495 hours TQT (Total Qualification Time)

This qualification is made up of the following units:

Principles of manual and computerised accounting – T/616/7758

• Understand the purpose of accounting concepts and standards, and recognise the qualitative characteristics of financial information
• Understand the basics of bookkeeping and accounting
• Understand terms used in accounting
• Understand the purpose of VAT Accounts and the VAT return
• Understand the process of accounting for a stock valuation
• Understand the process of accounting for fixed assets
• Understand the process of accounting for prepayments and accruals
• Understand the process of accounting for bad and doubtful debts
• Understand the purpose of a trial balance and a suspense account
• Understand the purpose of financial statements
• Understand the purpose of the extended trial balance
• Understand the principles of accounting for partnerships
• Understand the process of accounting from incomplete records
• Understand the principles of accounting for not for profit organisations
• Understand the purposes of budgeting

Make accounting adjustments – Y/508/5866

• Account for a stock valuation
• Account for fixed assets
• Account for prepayments and accruals
• Account for bad and doubtful debts

Prepare financial statements from double entry records for sole traders and partnerships – D/508/5867

• Prepare a trial balance and correct errors
• Prepare financial statements for a sole trader
• Prepare an extended trial balance
• Prepare financial statements for a partnership

Prepare financial statements from incomplete records for sole traders and not for profit organisations – H/508/5868

• Calculate capital or accumulated funds from incomplete data
• Account for receipts and payments from incomplete records
• Prepare financial statements from incomplete records

Principles of cash management – H/616/7769

• Understand how the external environment impacts on how a business manages its cash assets
• Be able to make informed decisions regarding the management of the cash balances of a business
• Understand the range of accounting and other business techniques used to improve the efficiency of cash management within a business

Manage cash effectively – Y/616/7770

• Prepare forecasts of income and expenditure for a business for a given period of time
• Use forecasts to monitor a business’s cash flow
• Use a business’s cash balances effectively

Use a computerised accounting package – D/508/6629

• Set up a computerised accounting system
• Enter business transactions
• Prepare and post journal entries
• Account for a stock valuation
• Account for fixed assets
• Account for prepayments and accruals
• Account for bad and doubtful debts
• Make end of period adjustments
• Amend the chart of accounts and generate reports

The Level 3 Diploma in Accounting and Cash Management qualification is primarily designed to appeal to learners in the following groups:

• Learners who already have some bookkeeping experience and want to formalise their knowledge and skills by completing an accredited qualification in bookkeeping and accounting.
• Learners who already hold a bookkeeping qualification wanting to expand their range of knowledge and skills.
• Learners already employed in bookkeeping or allied roles and wanting to expand their range of knowledge and skills so that they can perform more advanced tasks and take on additional responsibility in the workplace.
• Learners who are currently unemployed and wanting gain the knowledge and skills they need to move into a career in bookkeeping and accounting.
• Learners already self-employed as a bookkeeper/practitioner, or considering self-employment, and wanting to expand their range of knowledge and skills so that they can offer a more extensive range of services to a wider client base.

No formal entry requirements

Job role as Accounts Assistant