Role of accounting and finance Major financial statements Preparing a simple balance sheet Preparing a profit and loss account Preparing a cash flow statement Analysing, interpreting and evaluating financial statements Volume of activity, costs and profit Full costing approach to deduce the cost of a unit of output Purpose of budgets Budgets and the decision-making and planning process Business decisions and long term assets Managing the business working capital Business Accounting The accounting system Principles of double-entry book-keeping Flow of business documents Elements of a range of business documents Balancing an account Divisions of the ledger Basics of value added tax (VAT) Cash books Petty cash book Bank reconciliation statements Final accounts Accruals and prepayments Depreciation Extended trial balance Journal Correction of errors Control accounts Partnership accounts Limited company accounts Cash flow statements Interpretation of accounts Management Accounting Need for detailed management accounting information Different measures of cost Total costs of a product or service Costs and decision-making Cost behaviour patterns Different classifications of cost for decision-making Budgets and their preparation Importance of communication in the budgetary planning process |