Level III Diploma in Manual Book-keeping

Your Ideal Schools course will consist of the following:

• 9 lessons with an assignment to be completed and submitted to your tutor for assessment at the end of each lesson. 
• You will be provided with suggested answers on successful completion of each assignment.
• Regular Progress Test & Answers throughout each lesson.
• Full tutorial support via phone or email.

Topics covered within this level are as follows:

DATA PROTECTION
Demonstrate an understanding of the principles of the Data Protection Act.

STOCK CONTROL
Calculate closing stock using first in first out (FIFO), last in first out (LIFO) and average cost of stock (AVCO).

POST TRIAL BALANCE ADJUSTMENTS AND PROVISIONS
Make correct entries within the accounts for accruals and prepayments, depreciation, the provision of doubtful debts and closure of accounts at the year end.

DISPOSAL OF FIXED ASSETS
Make correct entries in the accounts for the disposal of fixed assets including part exchange; transfer the profit or loss on the disposal of a fixed asset to the profit and loss account; calculate depreciation of remaining fixed assets after disposal (assume full depreciation in the year of acquisition and no depreciation in the year of disposal).

EXTENDED TRIAL BALANCE
Analyse and develop given information to produce an extended trial balance.

INCOMPLETE RECORDS
Calculate owner’s capital account by the compilation of a statement of affairs. Calculate sales and purchases using control accounts or a similar method; using conventional book-keeping procedures, derive any other missing figures from given data; analyse and make use of given data to calculate profit by comparison of capital methods; Produce a set of complete final accounts from a set of incomplete records.

CONCEPTS
Explain the meaning of the terms business entity, going concern and accruals concept.

PARTNERSHIPS
Explain the legal aspects of a partnership formation; compile trading, profit and loss and appropriation accounts, together with a balance sheet for a partnership; compile partners capital and current account; apply profit sharing ratio changes to partnership accounts; produce the necessary calculations for the admission of a new partner and the retirement of a partner, including treatment of goodwill.

MANUFACTURING ACCOUNTS
Prepare the manufacturing account identifying prime cost and total cost of production; Prepare a trading and profit and loss account; prepare a balance sheet.

LIMITED COMPANIES
Explain the nature of limited liability and company account requirements; understand the need of maintaining a fixed asset register where applicable; produce a set of final accounts for a limited liability company; produce the ledger work required for the issue of shares and debentures.