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Our advanced bookkeeping course will allow you to develop a broader and strong understand of some of the more complex aspects of bookkeeping.
There is no external exam for this course - a certificate is issued on successful completion of the course assignments.
Following the success of our bookkeeping for beginners and intermediate bookkeeping courses, many people requested a more advanced course written in the same style on which they could build their existing knowledge. As a result the advanced bookkeeping course was written and is based on the same step by step learning approach, and provides the ideal starting point for progression to our IAB bookkeeping courses.
Join the hundreds of delighted students who have successfully completed the course thereby improving their skill set and career development.
Required Bookkeeping Background
Our advanced bookkeeping course assumes that the student has a sound grasp of Double Entry Book-keeping principles and the preparation of basic final accounts from the Trial Balance of a business. The course also assumes that the student has a desire to attain a broader overview of the financial affairs of different types of business entities.
What Will You Learn?
There are nine lessons to the course and a resume of these is as follows:-
Lesson 1: Suspense Accounts and the use of the Journal
This lesson introduces and explains clearly the use of the Journal with an emphasis on the correction of errors. The operation of a Suspense Account as part of the Double Entry Book-Keeping system is also explained.
Lesson 2: Introduction to Consolidated Company Accounts
Group structure, i.e. the acquisition of one company by another, and the accounting requirements for Consolidated Profit and Loss Accounts and Balance Sheets.
Lesson 3: Manufacturing Accounts
Many firms make their own finished products through the operation of their own manufacturing process. The relationship between different classifications of costs is explained together with the presentation of these costs in the form of Manufacturing, Trading and Profit and Loss Accounts.
Lesson 4: Partnership Accounts
Many businesses will be formed as a Partnership. This lesson shows exactly what the Partnership Agreement should contain. The appropriation of profits to the partners, after adjusting for the provisions contained in the Partnership Agreement, is also clearly and concisely explained.
Lesson 5: Limited Companies
Most businesses will be formed under the Companies Act. The concept of Limited Liability is taught together with all the requirements made by the Act. Different classes of share capital are introduced together with an explanation of the operation of loan capital.
Lesson 6: Cash Budgets and Projections
Corporate business plans are introduced in Lesson 6. The preparation of a Cash Flow Projection is fully covered. This is most important as almost every business which needs to raise capital from a lending source must make a presentation in the form of a Cash Flow Projection. Also shown is the preparation of forecast Profit and Loss Account and Balance Sheets.
Lesson 7: Marginal Costing and Break Even Analysis
The relationship between the types of cost demonstrated in Lesson 3 are expanded. The function of costs is also explained together with the impact of their function on the production planning process.
Break Even Analysis is introduced to show the importance to management of knowing (a) the number of units required to be produced and sold to break even and (b) the number of units to be produced and sold to obtain predetermined required net profit.
Lesson 8: Interpretation of Accounts and Stock Market Ratios
This shows the student how to use ratio analysis to assess corporate financial performance and thus determine the risk involved in a particular company. The ratios shown in the financial press are also shown and explained in such a manner as to allow the student to know exactly how these are computed and the meaning of quoted ratios and yields.
Lesson 9: Income Tax on Trading Profits
The difference between trading profits and those which will ultimately be assessed to income tax is shown together with the mechanics of the preparation of the tax computation for submission to the Inspector of Taxes. The tax rules allow for different treatment of the assessable profits in the opening year of a business. These are explained together with the advantages to be gained in the application of these special provisions.
For more information on our advanced bookkeeping course, please do not hesitate to contact us and we will be happy to help.