This programme covers a range of complex accounting tasks, including maintaining cost accounting records and the preparation of reports and returns. You will learn and master a number of financial processes including: - Accounting Principles and Concepts - Advanced Bookkeeping - Final Accounts - VAT Issues in Business - Management Accounting Costing Techniques - Ethical Practices for Accountants. You will learn: Preparing Financial Statements You will gain the skills required to produce statements of profit or loss and statements of financial position for sole traders and partnerships using a trial balance. It will also allow you to understand how final accounts have been produced, either manually or automatically through use of accounting software. Management Accounting Techniques This unit provides you with the knowledge and skills needed to understand the role of management accounting in an organisation, and how organisations use such information to aid decision making. You will learn the principles that underpin management accounting methodology and techniques, how costs are handled in organisations, and why organisations treat costs in different ways. You will be able to recognise different approaches to management accounting and provide informed and reasoned judgements to guide management. You will also learn how to apply these principles and appreciate why effective management accounting is crucial to any organisation. Tax Processes for Business For VAT, you will understand the registration and deregistration rules, including signing up for Making Tax Digital (MTD), and the rules relating to specialist VAT schemes. You will be able to recognise different types of supplies and calculate VAT correctly, understanding the importance of the rules relating to the recovery of input VAT and the sanctions and penalties for inaccuracies, omissions and failure to make submissions and payments within the correct timescales. you will be able to verify the accuracy of calculations, invoices and tax points, and will learn about the correction of errors. When learning about the content of the VAT return, you will understand how to apply special rules when goods and services are imported and exported out of the UK and the European Union (EU), and how to extract the appropriate data to complete VAT returns. In relation to payroll, you will understand the processes for businesses involved in calculating pay and deductions and the content of documents and reports produced on software, along with the timescales for submission and payment. Business Awareness You will gain an understanding of the business, its environment and the influence that this has on an organisation’s structure, the role of its accounting function and its performance. you will examine the purposes and types of businesses that exist, and the rights and responsibilities of key stakeholders. you will learn what the micro- and macro-economic environments are and the impact and influence that changes in these environments can have on performance and decisions. This will include an understanding of the basic business law relating to the preparation of financial statements for different types of entities. You will learn about the concepts of risk, types of risk and risk management for a business. You will understand the importance of professional ethics and ethical management, and how the finance function interacts with other key business functions to enhance operational efficiency. You will learn the core aspects of the ethical code for accountants and will apply these principles to analyse and judge ethical situations which could arise in the workplace. You will also understand how acting ethically stems from core personal and organisational values, as well as understanding the legal and regulatory framework for anti-money laundering. The Level 3 qualification is part of the National Skills Fund initiative and is fully funded for eligible learners. Alternatively, you can apply for an advanced learner loan to cover the cost of studying this course.