MAIN CAPABILITIES:

On successful completion of this unit, candidates should be able to:

A:  Explain the nature, source and purpose of management information

B:  Explain and analyse data analysis and statistical techniques

C:  Explain and apply cost accounting techniques

D:  Prepare budgets for planning and control

E:  Compare actual costs with standard costs and analyse any variances

F:  Explain and apply performance measurements and monitor business performance.

THE SYLLABUS OUTLINE

A:  The nature, source and purpose of management information

1. Accounting for management

2. Sources of data

3. Cost classification

4. Presenting information

B:  Data analysis and statistical techniques

1. Sampling methods

2. Forecasting techniques

3. Summarising and analysing data

4. Spreadsheets

C:  Cost accounting techniques.

1. Accounting for material, labour and overheads

2. Absorption and marginal costing

3. Cost accounting methods

4. Alternative cost accounting principles

D:  Budgeting

1. Nature and purpose of budgeting

2. Budget preparation

3. Flexible budgets

4. Capital budgeting and discounted cash flow

5. Budgetary control and reporting

6. Behavioural aspects of budgeting

E:  Standard costing

1. Standard costing system

2. Variance calculations and analysis

3. Reconciliation of budgeted and actual profit

F:  Performance measurement

1. Performance measurement - overview

2. Performance measurement - application

3. Cost reductions and value enhancement

4. Monitoring performance and reporting

MAIN CAPABILITIES

On successful completion of this unit, candidates should be able to:

A Understand the purpose and types of businesses and how they interact with key stakeholders and the external environment.

B Understand business organisation structure, functions and the role of corporate governance..

C Recognise the functions, systems and new technologies in accountancy and audit in communicating, reporting and assuring financial information, including the effective compliance, internal control and security of financial and other data.

D Recognise the principles of authority and leadership and how teams and individuals are recruited, managed, motivated and developed.

E Understand the importance of personal effectiveness as the basis for effective team and organisational behaviour.

F 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.

THE SYLLABUS OUTLINE

A: The business organisation, its stakeholders and the external environment

1. The purpose and types of business organisation

2. Stakeholders in business organisations

3. Political and legal factors affecting business

4. Macroeconomic factors

5. Micro economic factors

6. Social and demographic factors

7. Technological factors

8. Environmental factors

9. Competitive factors

B:  Business organisational structure, functions and governance

1. The formal and informal business organisation

2. Business organisational structure and design

3. Organisational culture in business

4. Committees in business organisations

5. Governance and social responsibility in business

C:  Accounting and reporting systems, compliance, control, technology and security

1. The relationship between accounting and other business functions

2. Accounting and finance functions within business organisations

3. Principles of law and regulation governing accounting and auditing

4. The sources and purpose of internal and external financial information, provided by business

5. Financial systems, procedures and related IT applications

6. Internal controls, authorisation, security of data and compliance within business

7. Fraud and fraudulent behaviour and their prevention in business, including money laundering.

8. The impact of Financial Technology (Fintech) on accounting systems

D:  Leading and managing individuals and teams

1. Leadership, management and supervision

2. Recruitment and selection of employees

3. Individual and group behaviour in business organisations

4. Team formation, development and management

5. Motivating individuals and groups

6. Learning and training at work

7. Review and appraisal of individual performance.

8. The application and impact of Financial Technology (FinTech) in accountancy and audit

E : Personal effectiveness and communication

1. Personal effectiveness techniques 

2. Consequences of ineffectiveness at work

3. Competence frameworks and personal development

4. Sources of conflicts and techniques for conflict resolution and referral

5. Communicating in business.

F:  Professional ethics in accounting and business

1. Fundamental principles of ethical behaviour

2. The role of regulatory and professional bodies in promoting ethical and professional standards in the accountancy profession

3. Corporate codes of ethics

4. Ethical conflicts and dilemmas

MAIN CAPABILITIES

On successful completion of this unit, candidates should be able to:

A:  Explain the context and purpose of financial reporting

B:  Define the qualitative characteristics of financial information

C:  Demonstrate the use of double-entry and accounting systems

D:  Record transactions and events

E:  Prepare a trial balance (including identifying and correcting errors)

F:  Prepare basic financial statements for incorporated and unincorporated entities.

G:  Prepare simple consolidated financial statements

H:  Interpretation of financial statements

THE SYLLABUS OUTLINE

A:  The context and purpose of financial reporting

1. The scope and purpose of financial statements for external reporting

2. Users’ and stakeholders’ needs

3. The main elements of financial reports

4. The regulatory framework (legislation and regulation, reasons and limitations, relevance of accounting standards)

5. Duties and responsibilities of those charged with governance.

B:  The qualitative characteristics of financial information

1. The qualitative characteristics of financial information

C:  The use of double-entry and accounting systems

1. Double-entry book-keeping principles including the maintenance of accounting records and sources of accounting information

2. Ledger accounts, books of prime entry, and journals

D:  Recording transactions and events

1. Sales and purchases

2. Cash

3. Inventory

4. Tangible non-current assets

5. Depreciation

6. Intangible non-current assets and amortisation

7. Accruals and prepayments

8. Receivables and payables

9. Provisions and contingencies

10. Capital structure and finance costs

E:  Preparing a trial balance

1. Trial balance

2. Correction of errors

3. Control accounts and reconciliations

4. Bank reconciliations

5. Suspense accounts

F:  Preparing basic financial statements

1. Statements of financial position

2. Statements of profit or loss and other comprehensive income

3. Disclosure notes

4 Events after the reporting period

5. Statements of cash flows

6. Incomplete records

G:  Preparing simple consolidated financial statements

1. Subsidiaries

2. Associates

H:  Interpretation of financial statements

1. Importance and purpose of analysis of financial statements

2. Ratios

3. Analysis of financial statements