Level 3 Accounting Diploma

Introduction

This Level 3 Diploma in Accounting will provide students with in-depth knowledge of the subject area.

It is an ideal starting point for anyone wanting to become an accountant. It is also useful for general managers seeking more information about the finances they manage. Individuals considering starting their own business will also find the course invaluable as a means to learn what records are important and how to maintain their accounts effectively.

Accountancy is the art of communicating financial information about a business entity to users such as shareholders and managers. The communication is typically in the form of financial statements, which demonstrate in monetary terms the economic resources under the control of management and how those resources have been utilised to enhance value. Ten carefully created units will guide students from the basic fundamentals underlying the subject of accounting to the various concepts used by accountants to keep records of capital expenditure for an organisation.

The units have been organised to provide students with an appropriate sequence to develop a sound knowledge of accounting. At the end of each unit, there is exam preparation to complete. This will help students prepare for the final examination.

The units vary in length and difficulty. Some of them include references to carefully selected websites to provide students with further practice, summaries, and examples of topics covered in the lessons. Students will learn the concepts of financial record-keeping techniques, the consequences of effective financial accounting, business profitability, performance, costing, and budgeting. Such financial information is primarily used by managers, lenders, investors, tax authorities, regulators, and other decision-makers to make resource allocation decisions between and within companies, organisations, and public agencies. It involves the process of recording, verifying, and reporting the value of assets, liabilities, income, and expenses in the books of account.

Accounting helps businesses in measuring, monitoring, and planning their operations. People skilled in accounting can determine whether a business is performing well financially, assess the strengths and weaknesses of the business, and communicate their findings to the business owners. Accounting involves recording, classifying, and summarising data. A degree of judgement and good analytical skills, combined with accounting techniques, are essential.