ACCOUNTING AND CONTROL course outline
ACCOUNTING
AND CONTROL
Course
outline
1 INTRODUCTION TO ACCOUNTING
ü Meaning
of the term accounting
ü Role
of accounting in an organization
ü Accounting
principles, assumptions and concepts Users of accounting information
ü Relevance
of accounting to human resource management functions
2 RECORDING FINANCIAL TRANSACTIONS
ü Financial
transactions
ü Role
of accounting equation
ü Double
entry system
ü Preparation
of journals
ü Preparation
and balancing of ledger accounts
3 COMPLETING THE ACCOUNTING CYCLE
ü Preparation
of a trial balance
ü Purpose
of a trial balance
ü Year-end
adjustments
ü Determination
of accruals, provisions and prepayments
ü Treatment
of accruals, provisions and prepayments
4 FINANCIAL STATEMENTS
ü Preparation
of trading, profit and loss accounts
ü Preparation
of a balance sheet
ü Importance
of trading profit and loss accounts and the balance sheets
5 CASHBOOKS
ü The
role of cash book
ü The
need for cash controls
ü Petty
cash and imprest system
ü Distinction
between cash book and bank statement balances
ü Making
entries in cashbook
ü Preparation
of bank reconciliation statements
6 ERRORS IN ACCOUNTING RECORDS
ü Types
of errors
ü Errors
affecting the trial balance
ü Errors
that do not affect the trial balance
ü Use
of suspense account in error correction
ü Correcting
net profit
7 CONTROL ACCOUNT
ü The
need for control accounts
ü Types
of control accounts
8 FINANCIAL STATEMENT ANALYSIS
ü Different
types of financial ratios
ü Role
of ratios in decision making
ü Need
for funds flow statement
ü Need
for cash flow statement
9 NATURE AND PURPOSE OF COST ACCOUNTING
ü Characteristics
of cost accounting
ü Purpose
of cost accounting
ü Elements
of costs
ü Classification
of costs
10 LABOUR COSTING
ü Ascertainment
of labour costs
ü Classification
of labour costs
ü Methods
of remuneration
ü Payroll
preparation
ü Treatment
of overtime premiums and idle time for costing purposes
12 PLANNING DECISIONS
ü Concept
of cash volume profit analysis
ü Limitations
of cash volume profit analysis Managerial costing
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