Lifestyle Learning Direct

This course is a natural progression from Bookkeeping I. It covers stock control and other issues not covered in the preceding course, and looks at accounting for trading firms, as well as the differences between recording and reporting. Consisting of 12 lessons, it is accredited by the Institute of Certified Bookkeepers.

Students who complete Lifestyle Learning Direct's Bookkeeping I or Bookkeeping II courses are now eligible to join this institute.

This course is accredited with The Institute of Certified Bookkeepers

Key areas of learning - Bookkeeping II course

Describe the nature of trading businesses, as well as the differences between recording and reporting for trading businesses and service businesses.

• Describe the nature of stock and the physical system of recording inventory.
• Explain the perpetual or continuous system of recording for inventory, the use of stock cards and methods of stock valuation.
• Distinguish between the main methods for valuing merchandise on-hand and the procedures that need to be set up in order to maintain the different systems.
• Distinguish between bad debts and doubtful debts.
• Explain how to prepare the journal entries and understand the effect of bad debts on final accounting reports.
• Extend your knowledge of the classification in accounting reports and how it is applied to trading firms.
• Acquire an understanding of control accounts and their uses.
• Explain of the use of budgets and to apply the skills learned.
• Explain the use and role played by statements of cash flows.
• Explain the different accounting alternatives available to business and the advantages and disadvantages of the various alternatives.
• Describe the tools used to measure the key areas of performance and financial position of a business, and how they can aid in decision making.
• Describe the different sources of finance available to businesses, other methods of expanding a business and the impact of different equity structures on the accounting and decision-making processes.

Delivery Options

CD-ROM

Online