1. Business Awareness This unit provides students with an understanding of the business, its environment and the influences that this has on an organisations structure, the role of its accounting function and its performance. Students will examine the purpose and types for businesses that exist and the rights and responsibilities of the key stakeholders, as well as gain an understanding of the importance of professional ethics and ethical management within the finance function. Learning outcomes ? Understand business types, structure and governance and the legal framework in which they operate. ? Understand the impact of the external and internal environments on business, their performance and decisions. ? Understand how businesses and accounts comply with principles of professional ethics. ? Understand the impact of new technologies in accounting and the risks associated with data security. ? Communicate information to stakeholders. Percentage contribution of this unit to the overall qualification grade: 15pc.
2. Financial Accounting: Preparing Financial Statements This unit provides students with the skills required to produce statements of profit or loss and statements for financial position for sole traders and partnerships, using a trial balance. Students will gain the double-entry bookkeeping skills needed to record financial transactions into an organisations accounts using a manual bookkeeping system. Learning outcomes ? Understand the accounting principles underlaying final accounts preparation. ? Understand the principles of advanced double-entry bookkeeping. ? Implement procedures for the acquisition and disposal of non-current assets. ? Prepare and record depreciation calculations. ? Record period end adjustments. ? Produce and extend the trial balance. ? Produce financial statements for sole traders and partnerships. ? Interpret financial statements using profitability ratios. ? Prepare accounting records from incomplete informatio
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