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Bookkeeping

Categories Accounting and finance, Management
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The course curriculum provides a comprehensive overview of bookkeeping and accounting, starting from the basics and progressing to more complex concepts. Each module builds on the knowledge from the previous one, ensuring a thorough understanding of bookkeeping and its application in real-world business scenarios. Students who complete this course should have a solid foundation in bookkeeping principles, the ability to analyse financial statements, and an understanding of how financial decisions impact a business’s financial health.

Why Choose Wisdom Learning UK's Course?

Free Student Support: Embark on your learning journey with the peace of mind, knowing that our dedicated team is here to guide you every step of the way.

Complimentary Certificate of Achievement: Celebrate your dedication and hard work! Upon completion, receive a certificate that not only marks your accomplishment but also enhances your professional profile.

Expertly Designed Curriculum: Dive into a course crafted by industry experts, ensuring that you gain relevant, up-to-date knowledge and skills that are in high demand.

UK-Specific Focus: With content tailored to the UK context, gain insights and expertise that give you a competitive edge in the local market.

Always Up-to-Date: Stay ahead of the curve with course material that’s continuously updated to reflect the latest trends and best practices in your field.

Optimised for Mobile Learning: Learn on-the-go! Our course is fully compatible with tablets and smartphones, making it easy for you to learn anytime, anywhere.

What I will learn?

  • Understand Core Bookkeeping Principles: Learn the fundamentals, from financial statements to managing ledgers.
  • Master Financial Reporting: Develop the ability to prepare balance sheets, income statements, and other crucial financial documents.
  • Gain Practical Skills: Apply bookkeeping concepts in real-world scenarios, enhancing your practical understanding.
  • Familiarise yourself with UK Accounting Standards: Stay up-to-date with the latest regulations and practices in the UK financial sector.
  • Enhance Decision-Making Abilities: Improve your capability to make informed financial decisions in a business context.

Course Curriculum

Module 1: Introduction to Bookkeeping
This module serves as the foundation of the course. It begins with an explanation of bookkeeping, detailing its objectives and significance in business. Key elements of financial reporting, such as the balance sheet and income statement, are introduced. These are crucial for understanding a business's financial health. The module also covers basic financial concepts like revenue, cost of goods sold, expenses, accounts receivable, accounts payable, and the trial balance. This stage is essential for students to grasp the basic mechanics of how financial transactions are recorded and reported.

  • Introduction to Bookkeeping

Module 2: Accounting Method Concepts and Standards
Here, the course delves into the theoretical framework of accounting. Students learn about various accounting concepts and the framework that guides accounting practices. Topics include the business entity concept, which emphasises the separation of a business's financials from its owner's personal finances. The accounting equation (assets = liabilities + equity) is a fundamental concept introduced here, along with the money measurement concept, which explains how financial transactions are recorded. The module also explores cost accounting, accruals, the conservatism principle, materiality, and accounting standards, which are essential for understanding how accounting policies and principles guide financial reporting.

Module 3: Keeping Track of Your Business
This module teaches students about the practical aspects of bookkeeping. It begins with the journal, an initial record where transactions are first entered. Students learn the advantages of maintaining a journal, its subdivisions, and the concept of a general ledger, which is a complete record of all financial transactions. The differences between a journal and a ledger are highlighted, and the module also touches on how to calculate balances and manage cash effectively.

Module 4: Understanding the Balance Sheet
This module focuses on the balance sheet, also known as the statement of financial position. It explains the purpose of financial statements and how to analyse a balance sheet. Students learn about different types of assets and how to assess a company's liquidity and financial health using ratios like the current ratio and the quick ratio. This part of the course is crucial for understanding how to evaluate a company's ability to meet short-term obligations and overall financial stability.

Module 5: Financial Statements
The final module expands on financial statements, emphasising working capital, which is vital for the day-to-day operations of a business. The course explains the components of working capital, such as receivables, and explores various sources of funding. It discusses how changes in working capital affect a company's cash flow and the differences between cash flow and fund flow. This module is essential for understanding how businesses manage their finances and the impact of various financial decisions on their cash flow.

Assignment

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£11.11 £22.00
  • Level
    All Levels
  • Duration
    5 hours
  • Last Updated
    December 28, 2023
  • Enrollment validity
    Enrollment validity: 730 days
  • Certificate
    Certificate of completion

A course by

Wisdom Learning

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Who is This Course For?

Our bookkeeping course is ideal for:

  1. Aspiring Bookkeepers: If you’re starting your career in finance, this course lays a solid foundation in bookkeeping principles.
  2. Small Business Owners: Gain essential skills to manage your business finances confidently.
  3. Accounting Professionals: Perfect for those looking to refresh or update their knowledge in line with current UK standards.
  4. Career Changers: If you’re seeking a new career path in a thriving industry, our course offers the knowledge you need.
  5. Finance Students: Complement your ongoing studies with practical, real-world bookkeeping skills.

Career Path

  1. Bookkeeper: Join the ranks of professional bookkeepers, a role in high demand across various industries.
  2. Accounts Assistant: A stepping stone into the world of accounting, perfect for those starting their career.
  3. Payroll Administrator: Specialise in managing payroll systems, a critical function in any business.
  4. Self-Employed Bookkeeper: Start your own bookkeeping business, offering services to a range of clients.
  5. Financial Analyst: For those looking to further their studies, a career in financial analysis is an excellent progression.
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