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Cat Introductory Certificate Financial Management Accounting |
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Introductory Certificate in Financial and Management Accounting
This certificate is part of the Foundations in Accountancy suite of awards. It is suitable for anyone looking to do an introductory qualification in accounting and finance. This includes school leavers or those already working in accounts-support roles.
This course is suitable for those who want to work in a variety of accounts-support roles including: a junior accounts clerk/junior bookkeeper role in an small or medium-sized enterprise or a range of junior accounting administration roles within an accounting department of a larger organisation or financial shared service centre
Units Taught:
Introductory Certificate in Financial and Management Accounting
- FA1 - Recording Financial Transactions
- MA1 - Management Information
(Foundations in Professionalism – online test, can be taken at any time)
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(FA1) Recording Financial Transactions
This unit introduces the basic accounting systems and documentation that will be encountered in the workplace. To develop knowledge and understanding of the operational aspects of maintaining accounting records and procedures and to learn how to record these transactions in the books of prime entry, including introduction to the principles of double entry and understanding how a computerised and a manual accounting system work.
Unit Aim: Recording Financial Transactions (FA1) introduces knowledge and understanding of the business and its environment and the influences this has on how organisations are structures and on the role of the accounting and other key business functions in contributing of the efficient, effective and ethical management and development of an organisation and its people and systems.
On successful completion of this paper, candidates should be able to explain and understand the following:
- Types of business transactions and documentation
- Duality of transactions and the double entry system
- Banking system and transactions
- Payroll
Ledger accounts
- Cash and Bank
- Sales and Credit transactions
- Purchases and Credit transactions
- Reconciliation
- Preparing the trial balance
(MA1) Management Information
The Management Information (MA1) unit introduces the student to the knowledge of basic cost information required for management accounting. To develop the knowledge and ability to recognise, collect and record basic cost and revenue information for planning and control including the use of spreadsheets in management accounting.
Unit aim: To develop knowledge and understanding of providing basic management information in an organisation to support management in planning and decision-making.
The Management Information (MA1) introduces the student to basic costing principles and techniques. The syllabus starts by introducing business organisations and the specific role of management accountant within the organisation. The next section deals with cost classification followed by identification of sources of information and coding, to ensure that cost information is properly classified. The syllabus then introduces basic techniques for recording cost followed by how to provide information. It finally introduces candidates to spreadsheets as an important tool in supporting and management accounting.
On successful completion of the Management Information (MA1) paper, candidates should be able to:
- Explain the nature and purpose of cost and management accounting
- Identify source departments in a costing systems and correctly code data
- Classify costs by nature, behaviour and purpose
- Record costs for material, labour and expenses
- Provide information on actual and expected costs
- Use the spreadsheet system in Microsoft excel
Foundations in Professionalism
Accountants who are good – i.e. are professional and ethical - make good accountants.
As a professional accountancy body, it is important to ensure that all students - irrespective of which
qualification they are studying for and to which level they wish to take their career - understand what it
means to work and act professionally and ethically in the workplace.
So if you become one of our students and study for any of the entry-level qualifications within
Foundations in Accountancy, you are required to complete Foundations in Professionalism.
This is an online, interactive module, designed to help you develop your understanding of what it means to act professionally and ethically in the work you carry out.
You can complete Foundations in Professionalism before or after completing the exam component of the qualification you are aiming to achieve and you only need to successfully complete the module once,
even if you decide to complete one or more of our qualifications.
There is no set time allocated to completing Foundations in Professionalism.
We encourage you to complete the module at your own pace to allow you to reflect on what you have learnt
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Entry Requirements
You don't need any previous academic qualifications to study for this certificate.
The ability level is broadly equivalent to GCSE level.
To achieve the Intermediate Certificate in Financial and Management Accounting you will need
to register as a student on Foundations in Accountancy and complete:
Two exams:
- Maintaining Financial Records (FA2) and
- Managing Costs and Finances (MA2)
A professionalism and ethics module called Foundations in Professionalism.
Please note, if you have already completed this module to gain the
Introductory Certificate in Financial and Management Accounting, you don't have to complete it again.
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