Financial Accounting Level 3

The qualification provides students with the key knowledge and understanding of accounting principles and concepts underlying all financial accounting including the preration of accounting entries for non-current assets; advanced bookkeeping; the preparation of journals for correction of errors and year-end adjustments; the preparation of the extended trial balance to incorporate these adjustments and the preration of financial accounts for unincorporated businesses (sole traders and partnerships).

Students will gain skills to produce financial records, summarising an organisation's financial transactions over a specific accounting period, and its current financial postion in terms of assets, liabilities and capital.