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.

Open the door of opportunity with the UK Open College

All three levels for one low price!!

Are there any previous skills or qualifications required to register for this course?

Good news! There are no previous skills or qualifications required to enrol onto this course. This course presumes no knowledge.

What qualification is awarded upon completion?

All successful students will be awarded the UK Open College Level 3 Diploma in Bookkeeping. See qualification page.

Am I required to sit an exam?

No. this course is completed using the continual assessment method, allowing student support to monitor your progress every step of the way. Therefore no examination is necessary.

How is my coursework assessed?

There are four grades possible for each assignment. A Fail, Pass, Merit or Distinction can be achieved. If you fail you can re-submit at no extra charge until you get it right! A distinction is the highest grade and requires work of a very high standard and presentation. You will be given guidance to help improve your grades if necessary.

What if I have a question relating to my course?

No problem! All students on this course can email student support with any questions they may have. Monday-Friday

What is included in the cost of my course?

• Course manual
• A4 folder
• Pen, pencil and ruler
• Document holder
• Plain paper
• Free post envelopes
• Calculator
• Unlimited support Monday- Friday during office hours

This course comes complete in a college study bag allowing you to transport it and study anywhere. Real flexibility!

What is the duration of the course? Is there a time limit for completion?

This course will take approximately 220 hours to complete. There is no time limit for completion. You can take as long as you wish or alternatively complete as quickly as you want.

What is covered in the syllabus?

The syllabus consists of the following units:

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 book-keeping: First Principles

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

Unit 3

Double-entry book-keeping: Further Transactions

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

Unit 4

Business Documents

• 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
• The 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
• The setting up of a petty cash account and a rents receivable account on the computer
• Journal entries
• Bank reconciliation statements

What are the career opportunities and salary potential when working in this field?

When giving our students careers advice, we like to leave it to the experts. Visit www.s1jobs.co.uk