Final Accounts Preparation | AAT
This purpose of this course is to provide the background knowledge and skills that you need in order to be capable of drafting accounts for sole traders and partnerships, and it provides the background knowledge of the regulations governing company accounts. On completion of this you will be able to complete tasks while being aware of potential ethical issues and know how to report information effectively. You should become an accomplished member of the accounting team who is able to work with little supervision and who can see a financial picture of the organisation. You will be able to recognise the different types of organisations that need to prepare financial statements and will understand why such statements are important to users in the business environment. The financial accounting techniques and knowledge that you have already have will be developed to prepare accounting records when the records are incomplete, and you will become familiar with mark-up and margin. You will recognise special accounting requirements for partnerships. You will become aware of legislation and regulations governing financial statements and will be able to recall and apply ethical knowledge to situations arising during the preparation of accounts. This course also introduces you to the terminology and formats used by accountants in the financial statements of companies, working with the International Financial Reporting Standards (IFRS) terminology. Using all of this, you will be able to prepare final accounts for sole traders and partnerships from an initial trial balance and present these to their line manager. You will then gain awareness of the more detailed requirements for the preparation of company financial statements.
Accounting and finance
1. Distinguish between the financial recording and reporting requirements of different types of organisation
2. Explain the need for final accounts and the accounting and ethical principles underlying their preparation
3. Prepare accounting records from incomplete information
4. Produce accounts for sole traders
5. Produce accounts for partnerships
6. Recognise the key differences between preparing accounts for a limited company and a sole trader
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Why study AAT with LGCA
Study anywhere, anytime on your laptop, phone or tablet through this fully online learning
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Access to practice questions and mock assessments
Topic focused learning modules, containing tutor-led bite-sized videos
Engaging activities designed for effective online learning
Integrated programme to guide you efficiently through the whole syllabus
Registration and Access
Once you complete an online purchase you will receive confirmation of account activation. Please allow 48 hours to get access to all the modules and for your eLearning account to be set up.