Introduction to Bookkeeping (Accounting)

By the end of this section you should be able to: Understand the importance of integrity and professionalism, Understand that legislation exists relating to the workplace, and know the fundamental principles of money laundering legislation.

In this lecture we will be covering the following: Introduction, Ethics and Accounting Ethics.

In this lecture we will be covering the following: Basic Business Legislation, Data Protection, The Data Protection Principles, Roles, Responsibilities and Rights, Health and Safety at Work, Risk Assessments, The Employer’s Duty of Care, Maintaining a Safe and Healthy Workplace, Health and Safety – The Use of Computers, and Employees Health and Safety Responsibilities.

In this lecture we will be covering the following: Money Laundering Regulations, Risk Assessment, Due Diligence Matters, Appointing a Nominated Officer, and Reporting Suspicious Activity.

This PDF document is the complete reading material for Section 2, which is covered in the video lectures.

This PDF document is the exercises and answers for Section 2.

By the end of this section you should be able to: Understand the banking process, and Understand document retention and storage requirements.

In this lecture we will be covering the following: Introduction, Deposit Accounts, Current Accounts, Business Loans, Business Overdrafts, The Business and Bank Relationship, Telephone and Internet Banking, Foreign Exchange and Foreign Currency, Safety Deposit Facilities, Methods of Making and Receiving Payment, Cash (Notes and Coins), Cheques, Words and Crossings, The Cheque Clearing System, The ‘Life’ of a Cheque, Post Dated Cheques, Stopping a Cheque, Receipt of Cheques, The Cheque Guarantee System, The Use of Plastic Cards, Debit Cards, Credit Cards, Charge Cards, Processing Card Transactions, Standing Orders and Direct Debit Payments, Register of Standing Orders & Direct Debits, Payment by BACS, Payment by CHAPS, Payment by Telegraphic Transfer, Banking Monies Received, Banking Notes and Coins, Banking Cheques, and Completing a Banking Sheet.

In this lecture we will be covering the following: The Physical Security of Monies.

This PDF document is the complete reading material for Section 3, which is covered in the video lectures.

This PDF document is the exercises and answers for Section 3.

By the end of this section you should be able to: Understand the double entry bookkeeping system, and Prepare ledger balances and an initial trial balance

In this lecture we will be covering the following: Introduction, The Work of the Bookkeeper, The Security of Source Documents and Accounting Records, Basic Accounting Concepts, The Business Entity Concept, The Dual Aspect Concept, The Money Measurement Concept, The Historic Cost Concept, Categorising Items of Income and Expenditure, Double Entry Bookkeeping, and Double Entry Processing – a worked example.

In this lecture we will be covering the following: Preparing the Initial Trial Balance, and Classifying Ledger Account Balances.

This PDF document is the complete reading material for Section 4, which is covered in the video lectures.

This PDF document is the exercises and answers for Section 4.

By the end of this section you should be able to: Understand the role of the books of prime entry, Understand the principles of coding, Understand the double entry bookkeeping system, Enter sales invoices and credit notes into the books of prime entry, Enter supplier invoices and credit notes into the books of prime entry, and Process ledger transactions from the books of prime entry.

In this lecture we will be covering the following: Introduction, Sub-Division of the Bookkeeping System, Main Books of Account, General Ledger, The Cash Book and Petty Cash Book, The Subsidiary Ledgers, The Books of Prime Entry, and Sales Returns Day Book.

In this lecture we will be covering the following: Control Accounts, and Worked Example.

In this lecture we will be covering the following: Coding, A Coding System, General Ledger Codes, Subsidiary Sales Ledger Codes, Subsidiary Purchase Ledger Codes, Cash Book Codes, Using Coding, General Ledger Codes, Sales Ledger Codes, and Purchase Ledger Codes.

This PDF document is the complete reading material for Section 5, which is covered in the video lectures.

This PDF document is the exercises and answers for Section 5.

By the end of this section you should be able to: Understand current VAT regulations, Understand control accounts, and Prepare a tax (VAT) control account.

In this lecture we will be covering the following: Introduction, Value Added Tax, The VAT System, Rates of VAT, Exempt and Outside the Scope, Registering for VAT, Compulsory Registration, Voluntary Registration, Deregistration, Exemption from Registration, VAT Accounting Schemes, The Standard Scheme, The Annual Accounting Scheme, The Cash Accounting Scheme, The Flat Rate Scheme, Making VAT Calculations, and VAT and Cash Discounts.

In this lecture we will be covering the following: The VAT Invoice, Less Detailed VAT Invoices, Modified Invoices, A Proforma Invoice, The VAT Date and the Tax Point, The Taking of Deposits, Accounting for Imports and Exports, Keeping VAT Records, The VAT Return (VAT 100), and Reconciliation of the VAT Control Account to the VAT Return (VAT 100).

In this lecture we will be covering the following: Control Visits, VAT Penalties for Mistakes and Delays, Changes in VAT, and VAT Information.

This PDF document is the complete reading material for Section 6, which is covered in the video lectures.

This PDF document is the exercises and answers for Section 6.

By the end of this section you should be able to: Demonstrate an understanding of the cost recording system within an organisation, and Recognise the component parts of a cost recording system and how it operates.

In this lecture we will be covering the following: Accounting within an Organisation.

In this lecture we will be covering the following: Costs and Cost Classification, Cost Nature and Classification, Cost Per Unit, Cost Classification by Function, Cost Centres and Profit Centres Cost Centres, and Profit Centres.

This PDF document is the complete reading material for Section 7, which is covered in the video lectures.

This PDF document is the exercises and answers for Section 7.

By the end of this section you should be able to: Demonstrate an understanding of the cost recording system within an organisation, and Recognise the component parts of a cost recording system and how this operates.

In this lecture we will be covering the following: Cost Behaviour, Variable Costs, Fixed Costs, Stepped Fixed Costs, and Semi-Variable Costs.

In this lecture we will be covering the following: Cost Per Unit Using Cost Behaviour, and Budgets.

This PDF document is the complete reading material for Section 8, which is covered in the video lectures.

This PDF document is the exercises and answers for Section 8.

By the end of this section you should be able to: Recognise the component parts of a cost recording system and how it operates.

In this lecture we will be covering the following: Cost Codes, Numeric Codes, Alphabetical Codes, Alpha-Numeric Codes, and Coding Manual.

This PDF document is the complete reading material for Section 9, which is covered in the video lectures.

This PDF document is the exercises and answers for Section 9.

By the end of this section you should be able to: Demonstrate an understanding of the cost recording system within an organisation, and Recognise the component parts of a cost recording system and how it operates.

In this lecture we will be covering the following: Stock and Types of Materials, Stock Valuation, Stock Valuation Methods, FIFO (First In, First Out), LIFO (Last In, First Out), AVCO (Average Cost Out – Weighted Average Cost), and Stock Records.

In this lecture we will be covering the following: Stock Valuation Using the FIFO Method, Stock Valuation using the LIFO Method, and Advantages and Disadvantages of Stock Valuation Methods.

This PDF document is the complete reading material for Section 10, which is covered in the video lectures.

This PDF document is the exercises and answers for Section 10.