The Bookkeeping – Level 2 Course is designed for people who wish to gain an understanding of the principles of Bookkeeping as an aid to running a small business or keeping financial records of small businesses.
The course is divided into two stages, level 1 and level 2 building into a comprehensive study of bookkeeping methods.
The bookkeeping courses teach the practices of:
- Ledgers and cash books
- Value Added Tax
- Daybooks
- Double entry and cash
- Reconciling accounts
- Management accounts
- Financial accounts
On successful completion of this course, students will receive an accredited Level 2 Certificate of Achievement.
The Course is divided into 2 Sections containing 9 Units:
- Level 1:
Unit One – Introduction to Keeping Financial Records
The following topics are covered: Double entry bookkeeping; Revenue and capital items; The Journal; Balancing ledger accounts; and Trial balance.
Unit Two – The Ledgers & Cash Book
The following topics are covered: Enter credit transactions into the ledgers; Parts of the ledger; Two-column cash book; and Analysed cash book.
Unit Three – Value Added Tax Records
The following topics are covered: Value Added Tax (VAT); Calculate VAT; Record VAT in the accounts; VAT inclusive figures; Trade and cash discount and its effect on VAT; Write off a bad debt; and understanding the effect of VAT.
Unit Four – Day Books
The following topics are covered: Daybooks; Payroll transactions; and Errors of omission, commission, principal, original entry, reversal and compensation.
- Level 2
Unit One – Double Entry & Cash
The following topics are covered: Double entry bookkeeping using control accounts; Petty Cash Imprest system; Three Column Cash Book; and Correction or errors including the Suspense Account.
Unit Two – Reconciling Accounts
The following topics are covered: Reconciling customer and supplier accounts; Control accounts; and Bank reconciliation.
Unit Three – Accounting for Value Added Tax
The following topics are covered: Value Added Tax (VAT); Produce a VAT return; VAT Schemes (Annual VAT Returns, Flat Rate scheme, Retail Scheme); International Trade – Import and Export; EU VAT; Partial Exemption; Non-allowable expenses; and Fuel scale charge.
Unit Four – Management & Financial Accounts
The following topics are covered: Trading, Profit and Loss Account; and Balance Sheet.
Unit Four – End of Period Adjustments
The following topics are covered: Adjustments; Depreciation; Prepayments and Accruals; Provision for Bad Debts; and Year End Ledger Entries.
To find out more about The Bookkeeping Course visit course provider website.
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