£320.00
A Level Accounting Distance Learning Course
All UKOL A Level courses - BUY 2 GET 3rd FREE (when paying in full)!!!Call 01379 650927 to take up this offer.
Now available as a 12 month FAST TRACK course at no extra cost!! Just select the option at the bottom of this page.
Guaranteed exam place: venues in Bristol, Harrogate, Birmingham & London.
Specification:
AQA (Full A Level) 2120, AQA (AS) 1121 and AQA (A2) 2121
Course Overview
The process of accounting supports businesses in the measuring, monitoring and planning of their operations.
People skilled in accounting should be able to tell whether or not the business is performing well financially, the strengths and weaknesses of the business and to communicate their results to the owners of the business. The process of Accounting is the practical ability to record, classify and summarise data and business related information.
Testing Centres http://www.aqa.org.uk/admin/p_private.php
Course Content
AS Accounting This course is divided into two units, each of which is divided into modules to support the learning process. At the end of each module there is a tutor-marked assessment which, when completed, should be sent to the tutor.
Each unit of the course corresponds to the examination module. The lessons are of different length and difficulty. Some of them have references to carefully selected texts, articles and websites to provide the student with extra practice, summaries and examples of topics covered in the lesson.
The student will learn the fundamentals of record-keeping and the purposes, techniques and consequences of effective financial accounting.
3.1 AS Unit 1 ACCN1 Introduction to Financial Accounting
Module 1 Introduction to financial accounting A business / organization and what its purpose is
Presentation of a business / organization’s financial information
The fundamental accounting concepts which govern financial reporting
Identification of a series of stakeholders to a company
Module 2 Recording financial data Business transactions and the duel effect of these transactions
Recording entries in the Books of Prime Entry and the Memorandum ledgers
Using this information to monitor trade receivables and trade payables
Double Entry accounting and the "T-Account"
Introduction to the accounting equation
Module 3 Checking accounting records Preparing a trial balance and ensuring it balances
Reasons why a trial balance would not balance (summary of the various errors)
The impact errors make on the profit/ (loss) and how these can be corrected
Suspense account (neither balance sheet nor profit & loss)
Module 4 Balance Sheet and Profit & loss Familiarization with profit and loss and balance sheet proformas
Adjustments to trial balance (depreciation, bad debts, accruals and prepayments)
Case study to prepare financial statements
3.2 AS Unit 2 ACCN2 Financial and Management Accounting
Module 1 Business entity concept The 3 types of business entities
Advantages and disadvantages of these organizational structures
Module 2 Accounting concepts Background to accounting concepts and the IASB’s framework
Qualitative characteristics of financial information
Cover the concepts relating to the qualitative characteristics (historic cost, going concern, accruals, consistency, prudence, materiality, realisation, business entity and objectivity)
Module 3 Further aspects of preparing primary accounts Advance look at balance sheet and profit & loss statements and adjustments. Specifically for bad debts and allowances for doubtful debts, income due and received in advance
Depreciation of fixed assets; Reasons why a business needs to depreciate
Introduction to new depreciation method – reducing balance – and comparison of the two methods
Accounting for the disposal of fixed assets, incorporating accumulated depreciation account entries
Capital vs. Revenue expenditure
Module 4 Limited Company accounts Revise "limited liability" and introduce students to new terms used in the capital of a limited company (authorised capital, issued capital, ordinary and preference shares, capital and revenue reserves, shareholders’ funds, loan capital)
Assess Loan capital vs. Share capital as a source of finance - advantages and disadvantages
Updating p&l and balance sheet with interim and final dividends; corporation tax liability; share premium; revaluation of fixed assets
Understand what bonus issues / rights issues are and clearly identify the differences between them
Make the necessary entries to the accounts for bonus and rights issues
Module 5 Ratio analysis and business performance
Interpreting financial statements of sole traders and limited companies
Comparing ratio analysis across competitors, across accounting periods and with other businesses
Consider how various transactions effect ratios consider also the limitations of these ratios
Understand that cash does not equal profits
Module 6 Ratio Introduction to budgeting Budgeting within business
Importance of budgeting within an organisation
Assumptions made in budgets and their weakness
Preparing cash budgets
Module 7 ICT within accounting
Learn how ICT helps with regard to double entry book keeping; maintaining and managing stock levels; monitoring debtors; preparing budgets
Advantages / Disadvantages with ICT tools
The course is examined in two components:
Examination Paper 1 – Unit 1 Introduction to Financial Accounting
This paper is one hour and thirty minutes in length and the marks provide 50% of the overall marks of the course, AS, and 25% of A Level. There are four compulsory questions.
Examination Paper 2 – Unit 2 Financial and Management Accounting
This paper is one hour and thirty minutes in length and the marks provide 50% of the overall marks of the course, AS, and 25% of A Level. There are four compulsory questions.
A2 Accounting
This course is divided into two units, each of which is divided into modules to support the learning process. At the end of each module there is a tutor-marked assessment which, when completed, should be sent to the tutor.
Each unit of the course corresponds to the examination module. The lessons are of different length and difficulty. Some of them have references to carefully selected texts, articles and websites to provide the student with extra practice, summaries and examples of topics covered in the lesson.
The student will learn the fundamentals of record-keeping and the purposes, techniques and consequences of effective financial accounting, businesses profitability, performance, costing and budgeting.
3.3 A2 Unit 3 ACCN3 Further Aspects of Financial Accounting
Module 1 Sources of Finance Reasons why a business would want to take out debt
The different finance options available to businesses:
Internal finance, shares, debentures, bank loans and overdrafts, and mortgages
but excluding hire purchase or leasing as forms of finance
Module 2 Incomplete records Introduction to and preparation of a statement of affairs using all available information
The business equation and how this can be used to calculate profit
Use control accounts to identify missing sales / purchases figures
Sales, cost of sales and gross profit relationship to calculate the missing figures (Mark up and Margins)
Use information gathered to prepare the financial statements
Understand the drawbacks of preparing accounts using incomplete records
Comment on the accounts prepared
Module 3 Partnership Accounts Prepare year end partnership accounts
Understand and comment on partnership accounts
Understand and be able to prepare partner capital and current accounts
Deal with retirement of partners / acceptance of new partners
Account for new profit sharing ratios
The process for admitting a partner, retirement of a partner and dissolution of a partnership
Revaluing goodwill when the partnership changes
Knowledge of the Partnership Act 1890 is essential
Module 4 Published accounts of Limited companies
Published accounts: Why limited companies have to publish accounts, the stakeholder’s interest in these published accounts and its corporate report and the limitations of the published accounts
Prepare non-current asset schedules which agrees to the non-current assets on the face of the balance sheet
Prepare a cash flow statement in line with IAS 7 (indirect method). Comment on the value of cash flow statements to stakeholders.
Discover auditors and their responsibilities and role within an organization
The difference between auditors and directors duties with regard to the accounts
Module 5 Accounting standards Introduce students to the accounting standards applicable to this course
Discuss the nature of the standards and how they relate to the qualitative characteristics of financial statements
IAS 1, 2, 7, 8, 10, 16, 18, 36, 37, 38
Module 6 Stock valuation The concept of valuing stock
The AVCO and FIFO method for valuing stock
Explain how the different methods produce different profit figures
3.4 A2 Unit 4 ACCN4 Further Aspects of Management Accounting
Module 1 Manufacturing accounts
Understand the manufacturing industry and prepare and interpret a set of manufacturing accounts
Calculate prime costs, overhead costs, factory cost of finished goods, and profit on manufacture and make provisions for unrealized profit.
Module 2 Marginal, absorption and activity based costing Understand the terms used to track costs and perform basic calculations to produce this information. Terms include direct costs, indirect costs, variable costs, semi-variable costs, fixed costs, marginal cost, contribution and break-even;
Calculate break-even points and understand the limitations of use with break-even analysis
Introduction to absorption costing, marginal costing and activity based costing. Interpretation and comparison of the three. Noting what a cost centre is and how this is used in the costing process
Calculate profit based on absorption and marginal costing
What is a service centre and how to absorb these costs into a product (using elimination method only)
Explanation of what cost pools and cost drivers are
Understand and calculate overhead absorption rates applying them over machine hours and labour hours
Introduction to cost cards and how this can be used in pricing policy
Decision making tools (make/buy, price setting, optimum use of resources, accept / decline additional work)
Module 3 Standard cost and variance analysis Interpret and comment on the system of standard costing
Calculate sales volume and sales price; material usage and material price; labour efficiency and labour rate
Understand the correlation between variances
Prepare a budget vs. actual report
Module 4 Capital Investment Appraisal Investment decisions are inherently based on assumptions and these must be appreciated as a limitation to the investment appraisal tool
Introduction to payback periods and net present values
Students will be introduced to discounted cash flows at this stage
Make recommendations to management as to which project to use, this should be based on calculations and financial analysis already performed
Module 5 Budgeting: Further considerations Reasons why we budget and how we use this information within the business
Understand and interpret purchases, sales, production, labour, debtor and creditor budgets and how these relate to the main budget summary
Prepare and comment on forecast operating statements and balance sheets
Module 6 Social accounting Discussion on corporate social responsibility, other factors beyond mere numbers which affect a business decision making
The Examination
The course is examined in two components:
Examination Paper 3 – Unit 3 Further Aspects of Financial Accounting
This paper is two hours in length and the marks provide 25% of A Level. There are four compulsory questions.
Examination Paper 4 – Unit 4 Further Aspects of Management Accounting
This paper is two hours in length and the marks provide 25% of A Level. There are four compulsory questions.
Study Time To complete a full A level it will take in the region of 200 study hours.
Pre-requisites
To take an A Level you should have a GCSE grade C or above, or the equivalent and preferably in your chosen subject.
Support
You will have access to tutor via email who will mark your work and guide you through the course to ensure you are ready for your examinations.
Examination Centres The examination board can provide you with a list of examination centres but it is entirely your responsibility to find a centre which will accept you as an external candidate.
Recommended Textbooks Business Accounting 1 - Frank Wood & Alan Sangster, FT Prentice Hall. ISBN 0273655523
Business Accounting 2 - Frank Wood & Alan Sangster, FT Prentice Hall. ISBN 0273655574
Business Accounts - David Cox, Osborne books
Frequently Asked Questions Q. Do your courses meet the latest syllabus changes?
A. Yes, all our course materials meet any changes and will be updated free of charge if further changes are made.
Q. Why do I have to find a centre myself?
A. We have students all over the UK and Europe and it is impossible for us to arrange dates and times for individual students.
Q. What if I cannot find an examination centre in my home town?
A. If you wish to gain the qualification then be prepared to travel it is worth it!
Q. How much are exam fees?
A. These vary from centre to centre so please check with your local centre.
Q. Are the courses paper based or on-line?
A. All our courses are paper based and come in attractive sturdy folders.
Q. How do I contact my tutor?
A. Tutors are all working Teachers or Lecturers so contact is by email only.
Q. Why can I not take my exams when I have completed the course and why do I have to wait?
A. Exams are taken at the same times as schools and colleges and are not flexible.
Q. I want to take my exams but there are only a few months to study, is this possible?
A. Depending on the time of year, it is sometimes impossible to complete your studies in a short space of time as your work has to be marked and checked. More importantly the examination boards have cut off times which are not flexible. See our web site for further information.
Q. Will I receive UCAS points on completion of this course?
A. Yes all of our A Levels carry UCAS points. The number of points awarded will depend on the grade you achieve.
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