Award in Book-Keeping – Intermediate

Course Description
This unit is intended to provide learners with all the knowledge and skills required to process the end of period adjustments and produce an extended trial balance and the preparation of the final accounts for a sole trader.

This unit builds on the knowledge and skills acquired from studying Fundamentals of Bookkeeping. Through this unit, learners will further develop their understanding of the double entry bookkeeping and adjustment entries necessary for the acquisition, disposal, depreciation of non-current assets, with consequential gains and losses on disposal, as well as those for accruals and prepayments of both income and expenses.

Furthermore, learners will also develop the necessary skills to use the journal for the recording of a variety of period end adjustments including correction of errors. In addition, learners will be given a good knowledge of period end accounting procedures as a control mechanism to help them verify and validate the entries made. These will mainly involve the preparation of the sales ledger, purchases ledger and VAT control accounts, suspense accounts and bank reconciliations.

Finally, through this unit learners will also acquire skills to produce the final accounts of a sole trader, which includes the Income Statement and Balance sheet.LO1 Record the bookkeeping entries for non-current assets.

LO1 Record the bookkeeping entries for non-current assets

LO2 Calculate period end adjustments.

LO3 Carry out accounting procedures at the end of the accounting period as a control mechanism of the double-entry bookkeeping system.

LO4 Process journal entries to record bookkeeping transactions and correction of errors.

LO5 Complete an extended trial balance incorporating adjustments.

LO6 Prepare the final accounts of a sole trader.

Minimum Entry Requirements for Programme:

Level 3 Qualification

OR

Maturity Clause

Applicants who have attained the age of 21 years may apply under the maturity clause. These applicants must demonstrate that they stand to benefit and show that they are able to follow the unit through an interview held for the purpose.