Course Title: Diploma in Accounting and Business
Awarded By: Association of Chartered Certified Accountants
Course Category: Accounting & Finance
Course Duration: 150 Hours
The Diploma in Accounting and Business is broadly equivalent to UK Higher National Diploma level or equivalent.
- A wide ranging and responsible accounting role in an SME
- A financial reporting and/or financial decision-support role, possibly in a supervisory role, within an accounting department of a larger organisation
- A financial supervisory or management role in accounts payables and/or receivables, or a financial role in fixed asset accounting or in financial shared service centres
- An accounting technician role in a commercial organization.
This course will cover the following key exams:
- FAB – Accountant in Business
To introduce knowledge and understanding of the business and its environment and the influence this has on how organisations are structured and on the role of the accounting and other key business functions in contributing to the efficient, effective and ethical management and development of an organisation and its people and systems.
- FMA – Management Accounting
To develop knowledge and understand of providing basic management information in an organisation to support management in planning and decision making.
- FFA – Financial Accounting
To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques including the reparation of basic financial statements.
After this course preparation, students will be able to explain and understand:
- Understand the purpose and types of businesses and how they interact with key stakeholders and the external environment
- Understand business organisation structure, functions and the role of corporate governance
- Recognise the function of accountancy and audit in communicating, reporting and assuring financial information and in effective financial control and compliance
- Recognise the principles of authority and leadership and how teams and individuals are recruited, managed, motivated and developed
- Understand the importance of personal effectiveness as the basis for effective team and organizational behaviour
- Recognise that all aspects of business and finance should be conducted in a manner which complies with and is in the spirit of accepted professional ethics and professional values.
- Explain the nature, source and purpose of management information
- Explain and apply cost accounting techniques
- Prepare budgets for planning and control
- Compare actual costs with standard costs and analyse any variances
- Analyse, interpret and monitor business performance.
- Explain the context and purpose of financial reporting
- Define the qualitative characteristics of financial information
- Demonstrate the use of double-entry and accounting systems
- Record transactions and events
- Prepare a trial balance (including identifying and correcting error)
- Prepare basic financial statements for incorporated and unincorporated entities
- Prepare simple consolidated financial statements
- Interpretation of financial statements.