Financial Accounting

Financial Accounting

FINANCIAL ACCOUNTING

1. SCOPE

The competent learner can understand the basic principles of accounting and apply them to the affairs of sole traders, thereby enabling the basic interpretation of financial records and statements.

The qualifying learner is capable of:

    • Demonstrate an understanding of the framework for the preparation and presentation of financial statements
    • Demonstrate an understanding of the double entry system of accounting
    • Write up and construct journals suitable for various business enterprises.
    • Account for cash
    • Demonstrate an understanding of the accrual basis of accounting
    • Demonstrate the ability to deal with the valuation of assets

Prepare financial statements of a sole trader in acceptable form:

    • Demonstrate an understanding of control accounts
    • Demonstrate the ability to reconcile accounts
    • Demonstrate an understanding of departmental accounts
    • Prepare the accounts of non-profit organisations
    • Prepare financial statements from incomplete records
    • Prepare elementary cash flow statements
    • Handle elementary cash flow problems
    • Demonstrate an understanding of partnership accounting

2. PROGRAMME ENTRY REQUIREMENTS / LEARNING ASSUMED TO BE IN PLACE

Depending on the curriculum selected, students should be aware that adequate language and numeracy skills are necessary for coping with the demands of the curriculum. Apart from the formal requirements, learners who register for entry into this qualification at level 5 should

    • Have the information-gathering, analysis and presentation skills required at exit level 4 on the NQF
    • Be able to comprehend what they have learned and to communicate it reliably, accurately, and comprehensively in the required medium of instruction
    • Be able to begin to take responsibility for their own learning and its progress within a well-structured and managed learning environment
    • Be able to evaluate their own performance 

3. DURATION

 6 Days

4. UNIT STANDARDS REFERENCE

This is a non unit standard based skills programme

5. COST

Please refer to office for formal quotation.

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