Balancing the books is at the heart of all business management. The overall aim of this course is to introduce students to essential financial accounting principles and techniques which will enable them to record and prepare basic final accounts. Students will learn how to prepare accounts for sole traders and partnerships as well as limited companies.

On successful completion of this course students will be able to contribute effectively to the accounting function of an organisation, or to understand how to record and prepare basic financial accounts for their own business. They will have the knowledge and skills required to progress to a higher level of study.

Learning Objectives

By the end of this course a student will be able to:

Record business transactions using double entry book-keeping, and be able to extract a trial balance.
Prepare final accounts for sole-traders, partnerships and limited companies in accordance with appropriate principles, conventions and standards.
Perform bank reconciliations to ensure company and bank records are correct.
Reconcile control accounts and shift recorded transactions from the suspense accounts to the right accounts.

Entry Requirements

For students who have recently been in education, the entry profile is likely to include one of the following:

Students must be over 18 years of age.
A Level 3 qualification in Business or an international equivalent.

The qualification is wholly in English language. Students should demonstrate capability in English at a standard equivalent to one of the identified levels below:

Common European Framework of Reference (CEFR) level B2
PTE 51
IELTS 5.5; Reading and Writing must be at 5.5
or equivalent.

Registration Process

Registration process:

Based on course settings, students might be requested to fill in an application and provide us with correct information about themselves before being able to proceed with the course (the application is online).
We will contact you by email if we need more details after submitting your application.
After approval, you can proceed with payment and start the course.

Materials and Delivery

Materials are organized under different lessons. The lessons consist of self-study contents including reading-texts, practical activity, assignment and quizzes in which students can engage and learn.

The course has supervisors and instructors; they are available online to support students by answering their questions or explain different topics to them. This will be managed under discussion section, forums, direct contact or by online meetings.

When student successfully completes all lessons, quizzes and pass assignment, he/she will be offered a certificate.

Fee and Discount

The Course is available as an individual or under Pearson Qualifications (HNC/HND) in Business. The price will be updated based on the selected option. The individual course fee is higher because Awarding Organization has additional fees for individual enrollment. At the same time, a discount will be automatically added when you order HNC/HND in Business or if you’re already enrolled under these qualifications.

Courses awarded under Next Gates have no discount, and the fee is already reduced.

* Note that prices don’t include VAT. It might be added at checkout based on your location.

Course Curriculum

Section One
	Introduction to Financial Accounting	01:30:00
	Accounting Concepts and Key Terminologies	01:30:00
	The Accounting Equation	01:30:00
	FIA Progress Quiz 01/10	00:30:00
	Types of Business and Business Entities	01:30:00
	Recording of Financial Transactions	01:30:00
	The Accounting Process	01:30:00
	FIA Progress Quiz 02/10	00:30:00
Section Two
	The Ledger Accounts	01:30:00
	The Trial Balance	01:30:00
	Accounting for Sales and Purchases	01:30:00
	FIA Progress Quiz 03/10	00:25:00
	Rectification of errors	01:30:00
	Financial Reports & Financial Statements	01:30:00
	Preparing Financial Statements – Basics	01:30:00
	FIA Progress Quiz 04/10	00:25:00
Section Three
	Partnership Accounts – I	01:30:00
	Partnership Accounts – II	01:30:00
	Accounting for Companies	01:30:00
	FIA Progress Quiz 05/10	00:25:00
	Preparing Financial Statements from Incomplete Records	01:30:00
	Understanding the Statement of Profit & Loss	01:30:00
	Understanding the Statement of Financial Position	01:30:00
	FIA Progress Quiz 06/10	00:25:00
Section Four
	The Statement of Cash Flows	01:30:00
	Auditor’s Report, Statement of Changes in Equity and Notes	01:30:00
	Revenue & Capital Nature Expenses	01:30:00
	FIA Progress Quiz 07/10	00:25:00
	Accounting for Inventories	01:30:00
	Accounting for Bad and Doubtful Debts	01:30:00
	Accruals and Prepayments	01:30:00
	FIA Progress Quiz 08/10	00:25:00
Section Five
	Depreciation	01:30:00
	Control Accounts and Their Reconciliations	01:30:00
	Accounting for Intangible Assets	01:30:00
	FIA Progress Quiz 09/10	00:25:00
	Liabilities, Provisions and Contingencies	01:30:00
	Reconciling Bank Balances with Books of Accounts	01:30:00
	Interpretation of financial statements	01:30:00
	FIA Progress Quiz 10/10	00:30:00

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Financial Accounting

Supervisors

Anas Mokayad