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