The Advanced Diploma in Accounting and Finance consists of the following 13 units.
Unit 1: An Overview of Accounting
In the first unit, candidates are introduced to the concepts of accounting, the benefits of accounting services to organisations and a summary of various ways of analysing financial transactions. The unit also centres on the type of people who require financial information such as financial analyst, banks, investors and so on.
Unit 2: What does an Accountant do?
With a thorough understanding of what accounting entails, candidates’ knowledge of the roles of accountants in the society is further broadened in this unit. The unit looks at the different types of accountants such as financial advisors, Auditors etc., and reveals the roles of each of them. Furthermore, the general roles, duties and responsibilities of the modern-day accountant are also explained.
Unit 3: The Accounting Concepts and Standards
Taking candidates away from the preliminaries, unit 3 delves fully into the course with a discussion of the core concepts and standards of accounting. The unit expounds the standards of financial report, which guides accounting practices. Candidates are also exposed to a variety of principles that make up the accounting concepts.
Unit 4: What is a Subsidiary Books Account
The course content moves on to the introduction of one of the most essential accountancy books – the subsidiary books account. In this unit, candidates learn the types of subsidiary books such as Sales book, Purchases book etc., their advantages as well as their limitations.
Unit 5: How to Prepare Profit and Loss Account
Unit 5 looks critically at one of the crucial aspect of accounting – the profit and loss account. This unit discusses the importance of an accurate profit and loss account in the decision-making process of a company. It also touches on the various components of a P&L statement. Finally, candidates are taught how to prepare a profit and loss account.
Unit 6: How to Create a Balance Sheet
The sixth unit critically walks candidates through the concepts and complexities of a balance sheet. The importance of a balance sheet in identifying a company’s assets and liabilities is also elaborated. In addition, candidates are taken through a step by step process of creating and analysing a balance sheet effectively.
Unit 7: Cash Flow Statements
In Unit seven, candidates’ attention is turned to one of the most important financial statement – the Cash flow statements. This module discusses how the cash flow statement works by analysing money inflow and outflow, investing activities and the financial activities of an organisation.
Unit 8: Budgeting - Practical Money Skills
Budgeting is the topic of discussion in Unit eight, which introduces candidates to the concept of budgeting, its types as well as the processes involved in drawing a budget. The benefits of budgeting as a vital tool of financial management are also discussed.
Unit 9: Cost Variance Analysis
The ninth unit expounds the concept of cost variance analysis, which is a key performance evaluation tool used in calculating the difference between expected cost and incurred cost. Sales variance, materials variance, volume variance and other types are also discusses.
Unit 10: What is Ratio Analysis?
Candidates’ knowledge of accounting is further broadened with an investigation of ratio analysis, which is the evaluation of an organisation’s financial health. This unit also reveals the primary ratios used for analysis.
Unit 11: Finance and Financial Management
The eleventh unit focuses on the concept of financial management and its importance to the success of an organisation. It explores the various aspects of financial management including planning, organising, controlling and monitoring financial resources, the establishment of financial goals and risk management.
Unit 12: How to Manage Working Capital
Attention shifts to the management of working capital in the twelfth unit. Candidates learn how to monitor and utilise the current assets and current liability to ensure the smooth financial operation of an organisation. Candidates also explore the various components and factors affecting working capital.
Unit 13: Investment Methods
The course ends with a look at the concept of investment methods. The unit further gives an in-depth explanation of the categories of investment methods and delves into the types of investment proposals, appraisal methods, and investment appraisal techniques.