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Append below the syllabus for Book-Keeping Second Level (2006) Series 2, 3 and 4
Click the image for a bigger picture:
For bookkeepers, one of the most recognized bookkeeping courses are from LCCI (London Chamber of Commerce and Industry International)
Extracted from LCCI’s website the following Bookkeeping courses
Book-keeping Level 1 ASE 1006
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Level 1 Book-keeping tests the candidate´s knowledge and understanding of the basic principles underlying the recording of business transactions through the use of the double-entry system of book-keeping. Candidates are also tested on preparation of accounts for sole traders and non-trading organisations.
Click here for DETAILED SYLLABUS
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Book-keeping Level 1 (New) ASE 1017
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This qualification is suitable for candidates who work or wish to work in areas of business that will involve the recording of financial transactions. It aims to enable candidates to develop an understanding of the basic principles underlying the recording of business transactions as well as develop the ability to maintain the books of, and prepare final accounts for, sole traders.
Successful candidates can progress to the LCCI IQ Level 2 Certificate in Book-keeping and Accounts qualification.
This qualification is equivalent to the EDI Level 1 Certificate in Book-keeping (500/3709/2) accredited by the QCA for the use in England, Wales and Northern Ireland. Certification end date is applicable to UK Centres only.
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Book-keeping and Accounts Level 2 ASE 2006
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Candidates are tested on their practical knowledge of final accounts for sole traders, partnerships and limited companies and non-trading organisations as well as branch, departmental and manufacturing accounts. At this level candidates begin to use ration analysis as an interpretative tool.
Click here for detailed SYLLABUS |
Book-keeping and Accounts Level 2 (New) ASE2007
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As a progression route from the Level 1, this qualification is targeted at candidates who are working, or preparing to work, in an accounting environment where they will be expected to maintain financial records and prepare accounts. The qualification aims to enable candidates to develop an understanding of the basic principles underlying the recording of business transactions as well as develop the ability to prepare and interpret accounts for sole traders, partnerships, non-trading organisations and limited companies.
Successful candidates can progress to the LCCI IQ Level 3 Accounting / Accounting (IAS) qualifications.
This qualification is equivalent to the EDI Level 2 Certificate in Book-keeping and Accounts (500/1633/7) accredited by the QCA for use in England, Wales and Northern Ireland.
Certification end date is applicable to UK Centres only.
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Introductory Certificate in Book-keeping 9911
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The Introductory Certificate in Book-keeping tests candidates´ knowledge of basic book-keeping terminologies and concepts as well as their knowledge and skills in preparing and recording source documents. It also tests their knowledge and understanding of general financial concepts and documents.
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Earlier articles have discussed almost all concepts/ principles, however there is yet another very important one which is Substance Over Form concept which basically is to ensure that the financial statements reflects the complete, relevant and accurate picture of the transactions and events.
Append below an article which explains the meaning of this concept and given few examples to illustrate this important concept. Read the rest of this entry »
Along the way, when we keep the books of account, there is a certain bookkeeping term called Contra account. Do we know what is this? In simple term, contra account is actually an opposite account to another account.
The following are some of the examples of using a contra account: Read the rest of this entry »
In the Balance Sheet, one key category is the Share Capital. At times, we might get confuse with the various classification of share capital. Read the rest of this entry »
We alway think that as financial statements have recorded all the actual transaction of a business hence, this will be the most ideal/appropriate reports whether for external and internal users. Read the rest of this entry »
Let understand what’s reserves:-
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RESERVES |
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Reserves are appropriations of profit namely when profits have been ascertained after deducting all expenses which includes provision and others. Reserves are residual earnings after all expenses and taxation which belongs to the owners namely the shareholders. There are essentially two(2) types of Reserves: · Capital Reserves · Revenue Reserves |
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WHAT ARE CAPITAL RESERVES? |
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Capital Reserves: · Are appropriation from profits ( refer above) which cannot be distributed by way of cash dividends. · These capital reserves arises mainly from · (i) equity transactions between the enterprise and its shareholders; · (ii) from adjustments arising in accounting for business combinations; · (iii) from differences arising on translation of foreign currency operations; · (iv) from surpluses arising from asset revaluation; · (iv) any unrealized gain which has not been included in income. Examples of capital reserves includes: share premium, capital redemption reserves, capital reserves arising on merger and acquisition, statutory reserves, asset revaluation reserve and exchange fluctuation reserves. |
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WHAT ARE REVENUE RESERVES? |
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Revenue Reserves are: · Are appropriation from profit ( refer above) which can be distributed by way of cash dividends although some may be set aside for other purposes. Examples like retained profits and general reserves |
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SUMMARY: TO RECAP FOR OWNER’S EQUITY SIDE OF THE BALANCE SHEET |
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Balance Sheet And Its Owners’ Equity Side consists of :Paid In Capital + Capital Reserves + Revenue Reserves |
If you refer to below accounting equation, owner’s equity form one of the three key elements of a Balance Sheet.
Let understand &/define Owner’s Equity: Read the rest of this entry »
In this Part 3, let’s look at what are really long term liabilities in a typical Balance Sheet: Read the rest of this entry »
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