This course is one of the entry requirements for the CIMA qualification, along with three other modules. Break the study down into manageable pieces and you’ll be well on your way to accounting freedom. The course should take approximately 25 study hours to complete and is available online, upon registration.

The main objective of this subject is to obtain a practical understanding of financial accounting and the process behind the preparation of financial statements for single entities. These statements are prepared within a conceptual and regulatory framework requiring an understanding of the role of legislation and of accounting standards. The need to understand and apply necessary controls for accounting systems, and the nature of errors is also covered. There is an introduction to measuring financial performance with the calculation of basic ratios.

Note: Students are required to be aware of the format and content of published accounts but are not required to prepare them. No detailed knowledge of any specific accounting treatment contained in the International Financial Reporting Standards (IFRSs) – including the International Accounting Standards (IASs), – is necessary, except in terms IAS 2 and the treatment of inventory, IAS 16 and IAS 38 for basic non-current asset transactions. IAS 1 and IAS 7 formats will form the basis of the financial statements. The terminology used for all entities will be that of International Financial Reporting Standards. This will enable students to use a consistent set of accounting terms throughout their studies.

KEY LEARNING POINTS

Bear in mind this course is ideal to sign up for if you need to brush up on your financial accounting skills and achieve the CIMA Certificate in Business Accounting certification.

• Get to grips with the core concepts that relate to accounting for business and how these can be applied to real experiences.
• Introduce yourself to the principles of ledger accounting, including the principles of double-entry bookkeeping, the preparation of cash and bank accounts, petty cash statements, non-current asset registers and accounts for payroll. These will play a major part in your role as an accountant in the real world and so are pivotal parts of this course, too.
• Explore how to prepare accounts for transactions, gaining insight into accruals and prepayments, bad debts and allowances for receivables and inventories, while also learning how to make adjustments where necessary and ensuring that the numbers all add up.
• Define what internal and external audits are and the basics of what they entail. Distinguish between them and learn more about why they are so important for the operation of a business.
• Learn how errors in accounting are corrected, including those of principle, omission and commission. Practice with hands on tasks which will help you to learn through doing.
• Explore the nature of fraud, and how it can be detected and prevented to ensure smooth running of a business and its accounts.

ADVANTAGES OF THIS COURSE

• Pursue your dreams of becoming a professional chartered management accountant with this pre-requisite course.
• Improve your chance of employment and impress prospective employees with a glowing skillset!
• Online CIMA tuition, training manuals and an exam practice kit come as standard upon registration on the course.
• Online study means you can complete the various units in your own time, at your convenience. No need to worry about jam-packed timetables, which can be advantageous when you have a job or other commitments to work around.
• Printable reference guides and exercises to help you revise and retain as much information as possible.
• Improve your marketability and impress future employers with a glowing CV!

Invest in your future, and the future of your business, or any business you may work for. Sign up for this course and you will be well on your way to accounting success.