|Course:||FETAC 4 Bookkeeping and Accounts|
|Category:||Business Studies/Accounting Technician/Payroll/Management/Start Your Own Business|
|Description:||The purpose of this module is to equip the learner with the knowledge skills and competence to keep basic bookkeeping records for an organisation. It provides the learner with the knowledge and understanding of bookkeeping terminology and an introduction to the principles of bookkeeping and accounts.
The learner will:
Describe the importance of good financial record keeping in business and the problems associated with poor record keeping.
. Demonstrate an understanding of the need for and importance of credit in the business world.
Explain the key terminology associated with bookkeeping and accounts.
Identify all relevant source documents for record keeping purposes.
Describe briefly the two main VAT rates, showing how the VAT system operates using one of the rates.
Check the accuracy of calculations on source documents.
Prepare outgoing documents for customers or clients to include orders, invoices, credit notes, receipts, and payments.
Complete the books of first entry with appropriate VAT and departmental analysis from the information in a range of source documents including invoices, credit notes, bank records, petty cash vouchers.
Post the information from the books of first entry to accounts set up in the ledgers, using the double entry system.
Extract a trial balance at the end of an accounting period.
Show how to correct errors identified in the record keeping process.
Interpret all the entries on a bank statement including the links between the statement and the receipts and payment records of an organisation
|Start/End Time:||6.30pm - 9.30pm|