Course Overview

ACCOUNTANT IN BUSINESS (FAB)

Introduce the knowledge and understanding of the business and its environment and the influence this has on how organisations are structured and on the role of the accounting and other key business functions in contributing to the efficient, effective and ethical management and development of an organisation and its people and systems.

On successful completion of this paper, candidates should be able to:
• Understand the purpose and types of businesses and how they interact with key stakeholders and the external environment
• Understand business organisation structure, functions and the role of corporate governance
• Recognise the function of accountancy and audit in communicating, reporting and assuring financial information and in effective financial control and compliance
• Recognise the principles of authority and leadership and how teams and individuals are recruited, managed, motivated and developed
• Understand the importance of personal effectiveness as the basis for effective team and organisational behaviour
• 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.

MANAGEMENT ACCOUNTING (FMA)

Develop the knowledge and understand of providing basic management information in an organisation to support management in planning and decision making.

On successful completion of this paper, candidates should be able to:
• Explain the nature, source and purpose of management information
• Explain and apply cost accounting techniques
• Prepare budgets for planning and control
• Compare actual costs with standard costs and analyse any variances
• Analyse, interpret and monitor business performance.

FINANCIAL ACCOUNTING (FFA)

To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.

On successful completion of this paper, candidates should be able to:
• Explain the context and purpose of financial reporting
• Define the qualitative characteristics of financial information
• Demonstrate the use of double-entry and accounting systems
• Record transactions and events
• Prepare a trial balance (including identifying and correcting error)
• Prepare basic financial statements for incorporated and unincorporated entities
• Prepare simple consolidated financial statements
• Interpretation of financial statements.

Awarded of Qualification

Diploma in Accounting and Business – awarded on the completion of exams Financial Accounting (FFA), Management Accounting (FMA) and Accounting in Business (FAB).

Registration opens in 2020