Bookkeeping

Understand the importance of adhering to a code of professional ethics

Understand the legal differences between the structure of different types of businesses

Understand the specific accounting requirements for different accounting systems

Understand the basic accounting concepts

Understand the importance of legislation that applies to bookkeepers

Understand the importance of the Chart of Accounts

Understand the importance of IT systems in a modern bookkeeping world

Understand the basic principles involved in double entry bookkeeping including the format of the accounting equation

Identify the various methods of payments and receipts to and from a bank account

Understand the purpose and range of business documents

Understand the need to accurately prepare business documents for goods and services supplied

Understand the need to check business documents received

Understand the various Rates of VAT

Understand how to correctly account for VAT in a bookkeeping system

Understand how to account for VAT transactions with customers and suppliers in other countries

Understand the purpose of, and make entries into, a bookkeeping system

Calculate the value of equity

Understand how to upload and match bank transactions

Understand the use of control accounts in the system

Understand the purpose and need to record petty cash

Post appropriate journal entries into the system