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CAT Diploma Accounting Business |
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Diploma in Accounting and Business
This is awarded on the completion of exams core modules and Foundations in Professionalism.
This Diploma is suitable for anyone looking to do an introductory qualification in accounting and finance,
including school leavers or those already working in account-support roles.
The ability level is broadly equivalent to the first year of a degree programme/HND.
The Diploma in Accounting and Business introduces knowledge and understanding of the business and its
environments and the influence this has on how organisations are structured and on the role of the
accounting and other key business functions in contributing to the efficient, effective and
ethical management and development of an organisation and its people and systems.
Modules taught:
- Diploma in Accounting and Business
- FAB - Accountant in Business
- FMA - Management Accounting
- FFA - Financial Accounting
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(FAB) Foundations of Accounting in Business
To introduce knowledge and understanding of the business and its environment and the influence this has on how organisations are structured and on the role of the accounting and other key business functions in contributing to the efficient, effective and ethical management and development of an organisation and its people and systems.
Unit aim: Foundations of Accounting in Business introduces students who may not have a business background, to the business, which as an entity is made up of people and systems which interact with the environment and with each other. The syllabus begins with examining the purpose and types of business which exist, the key stakeholders and the rights and responsibilities that businesses have in connection with them, exploring the external influence that effect the business in its environment, including economic, legal, social and technological factors.
The syllabus then explains the structure and functions of business, focusing on corporate governance and the specific accounting related roles in this process, particularly in financial reporting, assurance, control and compliance. The syllabus then introduces key leadership, management and people issues such as effective individual and team behaviour, motivation and personal effectiveness. The final section of the syllabus examines how behaviour at all levels within business should be underpinned by accepted professional ethics and professional values.
On successful completion of this paper, candidates should be able to:
- Understand the purpose and types of businesses and how they interact with key stakeholders and the external environment
- Understand the basic organisation structure, functions and the role of corporate governance
- Recognise the function of accountancy and audit in communicating, reporting and assuring financial information and in effective financial control and compliance
- Recognise the principles of authority and leadership and how teams and individuals are recruited, managed, motivated and developed. Understand the importance of personal effectiveness as the basis for effective team and organisational behaviour.
- Recognise that all aspects of business and finance should be conducted in a manner which complies with and is in the spirit of accepted professional ethics and professional values.
(FMA) Management Accounting
To develop knowledge and understanding of providing basic management information in an organisation to support management in planning and decision-making.
Unit aim: This unit introduces candidates to elements of management accounting which are used to make and support decisions. The syllabus starts by introducing the nature, the source and purpose of cost accounting and the costing techniques used in business which are essential for any management accountant. The syllabus then looks at the preparation and the use of budgeting and standard costing and variance analysis as essential tools for planning and controlling business costs. The syllabus concludes with an introduction to measuring and monitoring the performance of an organisation.
On successful completion of this paper, candidates should be able to:
- Explain the nature, source and purpose of management information
- Explain and apply cost accounting techniques
- Prepare budgets for planning and control
- Compare actual costs with standard costs and analyse any variances
- Analyse, interpret and monitor business performance
(FFA) Foundations of Financial Accounting
Unit aim: To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.
Foundation of financial accounting, introduces the candidate to the fundamentals of the regulatory framework relating to accounts preparation and to the qualitative characteristics of useful information. The syllabus covers drafting financial statements and principles of accounts preparation, and then concentrates in depth on recording, processing and reporting business transactions and events.
The syllabus then covers the use of the trial balance and how to identify and correct errors and the preparation of financial statements for incorporate and unincorporated entities. The syllabus then moves in two directions, firstly requiring candidates to be able to conduct a basic interpretation of financial statements; and secondly requiring the preparation of simple consolidated financial statements from individual financial statements of group incorporated entities.
On successful completion of this paper, candidates should be able to:
- Explain the context and purpose of financial reporting
- Define the qualitative characteristics of financial information
- Demonstrate the use of double-entry and accounting systems
- Record transactions and events
- Prepare a trial balance (including identifying and correcting error
- Prepare basic financial statements for incorporated entities
- Prepare simple consolidated financial statements
- Interpretation of financial statements
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There are two routes to achieving Diploma Accounting Business:
Route 1
If you do not have any formal qualifications or you have completed the Introductory Certificate and/or
Intermediate Certificate in Financial and Management Accounting you will need to complete:
- Three exams: Accountant in Business (FAB), Management Accounting (FMA) and Financial Accounting (FFA)
- Professionalism and ethics module called Foundations in Professionalism. Please note, if you have already completed this module you don't have to complete it again.
Route 2
If you have qualifications to meet the minimum entry requirements to start your ACCA Qualification, you can achieve the Diploma on the way to gaining your ACCA Qualification. You will need to register as a student on the ACCA Qualification and complete:
The first three exams of the ACCA Qualification.
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