Bookkeeping Course Levels 1, 2 & 3

This home learning course in Manaul Bookkeeping is a must for any student looking to move into or considering entering this field. This very rewarding but challenging distance learning course will offer you everything required to enhance your career or help you make massive strides if considering entering this line of work. One of the most popular courses on offer from the UK Open College continues to creat massive interest year after year. Enjoy the benefits and flexibility Open Learning brings. See details below for our Diploma in Manual Bookkeeping.

Enter the field of manual bookkeeping. This subject continues to be a student favourite and will continue to be so. Bookkeeping is amongst the oldest professions in the world and bookkeeper’s skills are in huge demand. Every business needs a bookkeeper virtually guaranteeing employment for anyone capable of keeping financial records.

This course covers all the three levels in one go from beginner all the way through to advance. You will cover all the elements required to become competent in this area and at the same time boosting your confidence.

(Pay monthly on this course: £50.00 deposit followed by 8 monthly payments of £50.00. Call 0800 0131030 for guaranteed set up}

Entry requirements:

There are no previous qualifications required to register for this study programme. Basic numeracy skills are required.

Support:

All students will be assigned a personal tutor with whom they may correspond with via email. Tutors are assigned upon receipt of your first assignment 

Duration: 

There is no time limit on this course.  Average study of 220 hours.

Provided materials:

• Course Manual
• A4 Folder
• Pen, Pencil and Ruler
• Calculator
• Paper
• Freepost Envelopes
• Unlimited email support Monday to Friday
• College Certification

This course comes complete in a college bag for real flexibility

Course syllabus:

 

 

 

Unit 1 
What are business Accounts?

 

 

 

• Recording business transactions in financial terms
• Reporting financial information to the owner of the business and other interested parties
• Advising the owner and other parties how to use the financial reports to assess the past performance of the business, and to make decisions for the future

 

Unit 2 
Double-entry bookkeeping: First Principles

 

• Bank
• Cash
• Capital
• Fixed Assets
• Expenses
• Income
• Drawings
• Loans

 

Unit 3 
Double-entry bookkeeping: Further Transactions

 

• Cash Purchases
• Cash Sales
• Credit Purchases
• Credit Sales
• Returns
• Carriage

Unit 4 
Business Document

 

• Purchase Order
• Delivery Note
• Invoice
• Credit Note
• Statement of Account

 

Unit 5 

 

• Balancing Accounts – The Trial Balance

   

Unit 6
Division of the Ledger – Primary accounting records

 

• Sales ledger, Containing the accounts of debtors
• Purchase Ledger, Containing accounts of creditors
• Cash books, Containing the main cash book and the petty cash book
• General (or nominal) ledger, containing the nominal accounts (expenses, etc) and the real accounts (fixed assets etc)

 

 Unit 7 
Value Added Tax

 

• The nature of VAT
• The business account that needs to be kept for VAT
• How to compare a Value Added Tax Return

 

 Unit 8 

 

• Cash Book

Unit 9 
Petty Cash Book

 

• A primary accounting system
• Part of the double-entry system

 

Unit 10 

 

• Bank reconciliation Statement

   

Unit 11 

 

• An introduction to computer accounting

   

Unit 12 
Final Accounts

 

• Trading account
• Profit and loss account
• Balance Sheet

 

Unit 13 

 

• Accruals and Prepayment

   

Unit 14
Depreciation of fixed assets

 

• Define depreciation
• Consider the methods of calculating depreciation
• Look at the bookkeeping entries for depreciation
• Apply depreciation to the final accounts
• Investigate the bookkeeping entries when a fixed asset is sold
• See how a revaluation of assets is recorded in the accounting system

 

Unit 15 
Bad debts and provision for bad debts

 

• Distinguish between bad debts and provision for bad debts
• Prepare the accounting entries for bad debts, and consider the effect on the final accounts
• Prepare the accounting entries to make a provision for bad debts, and consider the effect on the final accounts
• Look at the procedures a business may use in order to minimise the risk of bad debts

 

Unit 16
The Extended Trial Balance

 

• The ledger balances
• Adjustment to the figures
• The year-end accounts where the figures are used: ie trading and profit and loss account (combined together), and balance sheet

 

 Unit 17 
The Regulatory Framework of Accounting

 

• Accounting concepts
• Accounting Standards

 

Unit 18 

 

• The Journal

   

Unit 19 
Correction of Errors

 

• Division of the accounting function between a number of people
• Regular circulation of statements to debtors, who will check the transactions on their accounts and advise any discrepancies
• Checking statements received from creditors
• Extraction of a trial balance at regular intervals
• The preparation of bank reconciliation statements
• Checking cash and petty cash balances against cash held
• The use of control accounts
• The use of a computer accounting program
• Correction of errors not shown by a trial balance
• Correction of errors shown by a trial balance, using a suspense account
• The effect of correcting errors on profit and the balance sheet

 

Unit 20 
Control Accounts

 

• The concept of control accounts
• The layout of sales ledger and purchase ledger control accounts
• The use of control accounts as an aid to the management of a balance

 

Unit 21 
Incomplete Accounts

 

• The information available when constructing final accounts from incomplete records
• How information that is required can be calculated
• The use of gross profit mark-up and margin in incomplete records accounting
• How stock losses – goods ‘lost’ as a result of fire, flood or theft – are calculated for insurance purposes.

 

Unit 22 
Club and Society Accounts

• The differences in accounting terminology between business and non-profit making organisations

• The preparation of club/society year-end accounts

• The different accounting treatments for aspects of club/society accounts

 

Unit 23 
Partnership Accounts

 

• The definition of a partnership
• The accounting requirements of the Partnership Act 1890
• The accounting requirements which may be incorporated into a partnership agreement
• The use of Capital accounts and current accounts
• he appropriation of profits
• The layout of the capital section of the balance sheet

 

Unit 24 
Changes in Partnership

 

• Admission of a new partner
• Retirement of a partner
• Death of a partner
• Changes in profit-sharing ratios
• Revaluation of assets
•  Dissolution of a partnership

 

Unit 25 
Limited Company Accounts

 

• The advantages of forming a limited company
• The differences between a private limited company, a public company, and a company limited by guarantee
• The information contained in a company’s Memorandum of Association and its Articles of Association
• The differences between ordinary shares and preference shares
• The concept of reserves, and the difference between capital reserves and revenue reserves
• The appropriation section of a company’s profit and loss account
• The layout of a company’s balance sheet

 

Unit 26 
Manufacturing Accounts

 

• Consider the manufacturing process
• Study the element of cost
• Prepare a manufacturing account

 

Unit 27 
Cash Flow Statements

 

• An appreciation of the need for a cash flow statement
• The cash flows for the main sections of the statement
• How the cash flows relate to the main areas of business activity
• The interpretation of cash flow statements

 

Unit 28 
Interpretation of Accounts

 

• The importance of interpretation of financial statements
• The main accounting ratios and performance indicators
• A commentary on trends shown by the main accounting ratios
• How to report on the overall financial situation of a business
• Limitations in the interpretation of accounts

 

Unit 29 
Setting up the computer files

 

• The transfer of data from a manual accounting system to a computer accounting system
• The accounts in the Nominal Ledger
• The production of a trial balance from the Nominal Ledger

 

Unit 30 

 

• Selling to Customers on Credit

   

Unit 31 

 

• Buying from Suppliers on Credit

   

Unit 32 
Making Payments

 

• Dealing with cash payments
• he setting up of a petty cash account and a rents receivable account on the computer
• Journal entries
• Bank reconciliation statements

 

Examination:

No examination is necessary

Assessment method:

This course is completed using continual assessment, allowing your tutor to closely monitor your progress every step of the way. Therefore no examination is required.

Qualification: 

UK Open College Manual Bookkeeping Diploma

Once completed successfully each student will receive their Diploma from the college proving their skills and knowledge in this challenging field. Add this to your completed folder of courswork and impress any potential employer. Your Diploma will give you the self belief and confidence to progress further with your studies or help make inroads to getting that job you have always wanted.