Bookkeeping and Accounts Diploma, Seychelles Business Studies Academy, PDF

SEYCHELLES BUSINESS STUDIES ACADEMY PROGRAMME: DIPLOMA IN BUSINESS MANAGEMENT AND ADMINISTRATION COURSE TITLE: BOOKKEEPING AND ACCOUNTS YEAR: 1 NO. OF CREDITS: 12.0 DURATION: 120 HOURS CONTACT: 60 HOURS NON-CONTACT: 60 HOURS...

SEYCHELLES BUSINESS STUDIES ACADEMY PROGRAMME: DIPLOMA IN BUSINESS MANAGEMENT AND ADMINISTRATION COURSE TITLE: BOOKKEEPING AND ACCOUNTS YEAR: 1 NO. OF CREDITS: 12.0 DURATION: 120 HOURS CONTACT: 60 HOURS NON-CONTACT: 60 HOURS 1 COURSE INTRODUCTION: Accounting is more than just memorizing terms and procedures; it's a whole new way of thinking about finances. Bookkeeping and Accounts is vital to any organisation, whether it’s a small private business or a multinational company. Bookkeeping is the part of accounting that is concerned with recording data and ensuring that records of financial transactions are precise, up-to-date and comprehensive. This Course assumes learners have no prior knowledge about accounting and is designed to build accounting skills and provide learners with an understanding of bookkeeping including associated documents and processes. Learners will learn the basic principles that underpin the double entry-bookkeeping system. The Course also covers a range of topics from basic bookkeeping practices to the recording of financial transactions. COURSE PURPOSE: The purpose of the Course is to: - Provide learners with knowledge and understanding of the basic theory, concept and practices of bookkeeping and accounts. - Provide learners with understanding of business transactions and their effects - Provide learners with knowledge and understanding of the different documents used for business transactions by knowing their contents and formats - Develop learners’ skills of calculation and accuracy - Develop learners’ ability to prepare and report on year-end financial statements - Develop learners’ techniques of entering financial transactions into the books of accounts with the understanding of their effect on final accounts. 2 LEARNING OUTCOMES: Upon completion of the Course learners should be able to: - - Explain the relationship between bookkeeping and accounting - Explain the accounting equation - Define accounting terminologies - Explain what is meant by double entry system - Explain how the double entry system follows the rules of the accounting equation - Record basic financial transactions and extract a trial balance - Draw up year-end financial statements after different transactions have occurred - Identify the purpose of business documents - Complete and check accuracy of financial documents - Record business transactions in books of original entry - Post transactions from day books to the ledger - Open accounts in relation to business transactions - Prepare a bank reconciliation statement TEACHING AND LEARNING METHODOLOGY TO BE USED IN DELIVERY: The Course will be conducted using: - - Direct instructions (lecture format) - Study assignment method (homework and class work) - One on One Tutorial - Independent study and practice - Programmed learning using textbook 3 COURSE SYLLABUS (TOPICS AND CONTENT) 1. Introduction to double entry bookkeeping. - The accounting equation - The double entry for assets, liabilities, capital, stock, drawings, expenses and revenues - Balancing off accounts - The trial balances 2. The financial statements of sole traders - Trading and Profit and Loss Account - Balance Sheet 3. Business Transactions and Documents - Business Transactions - Financial Documents - Types of discounts - Tax - Calculating accuracy of business documents 4. Division of the ledger - Types of books of original entry: Sales Day Book Purchases Day Book Sales Returns Day Book Purchases Returns Day Book Cash Book Petty-Cash Book General Journal - Types of accounts - The ledgers 5. The Bank Reconciliation Statement - Definition, purpose and content of the bank reconciliation statement - Updating the cash book - Unpresented cheques and outstanding bank lodgements 4 ASSESSMENTS The whole Course will be assessed by means of a total of two (2) continuous assessments (representing an overall grade of 60%) for the Course and a final written examination at the end of the semester, contributing 40% of the overall grade for the Course. WEIGHTING No. DUE DATE ASSESSMENT TYPE (%) 1 Week 04 Closed Book Written Assessment 30% 2 Week 08 Assignment 30% 3 Week 14 Final Closed Book Written Examination 40% ASSESSMENTS TASK DETAILS Continuous Assessment 1 of 2: Week 06: Weighing 30% Individual Unseen Closed Book Written Paper Duration: 1 hr 30 (plus 5 minutes reading time) Assessment Purpose: The purpose of the assessment is for learners to demonstrate their knowledge and understanding of the basic theory, concept and practices of bookkeeping and accounts. Assessment Description: The assessment will be divided into 2 sections. Section A will consist of multiple-choice questions and definitions of accounting terminologies. Section B will consist of a number of practical tasks. 5 Continuous Assessment 2 of 2: Week 12: Weighing 30% Group Assignment Duration: 2 weeks Assessment Purpose: The purpose of the assessment is for learners to demonstrate their ability to prepare and report on year-end financial statements Assessment Description: Learners will be given information extracted from the books of a sole trader from which they will be required to prepare the trial balance and the 2 financial statements. The assignment will be submitted in the form of a report on the financial position and performance of the company. End of Course Examination: Week 18: Weighing 40% Individual Unseen Closed Book Written Paper Duration: 2 hours (plus 5 minutes reading time) Assessment Purpose: The purpose of the examination is to assess learners’ bookkeeping and accounting knowledge, understanding and skills including associated documents and processes. Assessment Description: The assessment will be divided into 2 sections. Section A will consist of multiple-choice questions and definitions of accounting terminologies. Section B will consist of a number of practical tasks. RESOURCES Aids: Calculator Textbook: Wood F & Robinson S, 8th ed. (2013) Bookkeeping and Accounts, Edinburgh Gate; Pearson Education Limited Wood F & Sangster, 12th ed. (2012) Business Accounting 1, Edinburgh Gate; Pearson Education Limited 6