Introduction to Accounting and Business Maths
This module is an introduction to accounting and maths for accounting and presumes no previous knowledge of accounting. Students will be introduced to an overview of the accounting system, principles on recording of business transactions, preparation of financial statements, bank reconciliation statements and basic maths for business.
Apply and make use of basic maths for accounting and pricing.
Explain the nature, purpose and importance/objectives of accounting and recall and discuss the various users of accounting information.
Explain the accounting system and types of business structures.
Apply the fundamental principles of financial record keeping and double entry book keeping including the preparation of a trial balance.
Calculate VAT and prepare a basic VAT return.
Explain the elements of financial statements and be able to prepare a basic final set of financial statements for a sole trader.
Discuss the importance of bank reconciliations and be able to prepare a bank reconciliation statement.