Preparatory Course for Pearson LCCI Diploma in Computerised Accounting

Course details

ion, students will study Higher Accounting, and Cost Accounting or Business Statistics (optional) modules for this Diploma in Computerised Accounting course.

Computerised Accounting Level 3 is a test of practical ability although candidates will need to have a basis of accounting knowledge and understanding in order to pass. LCCI Accounting Level 3 assesses candidates knowledge and understanding at this level; centres and candidates should note however that the detailed contents of the Computerised Accounting Level 3 and Accounting Level 3 syllabuses do not correspond exactly. The examination will assess the candidates ability to use MYOB computerised accounting software to: Set up partnership and limited liability company accounts; Track department and job profitability; Enter transaction data including multi-currency transaction data; Manage debtors accounts and bad debts; Manage inventory; Enter year-end journal entries before closing financial years; and Customise and generate a variety of reports.

Teaching / Learning Methods and Strategies

Trial of Past Year Examination Papers / Assignments / Classroom Face-To-Face Theoretical Explanations

Entry Requirements

1 GCE N Level OR
1 GCE O Level OR
LCCI Level 2 Certificate OR
NITEC/Higher NITEC OR
Additional Entry Pre-requisite for DIA, DCA courses

Basic Book-Keeping knowledge; OR
LCCI Level 2 Certificate in Book-Keeping; OR
Practical working experiences in a financial/accounting industry.

Assessment Information

EXAMINABLE THEORY / PRACTICAL PAPER (EXTERNAL AWARD BY LONDON CHAMBERS OF COMMERCE & INDUSTRY INTERNATIONAL QUALIFICATIONS, UK) - 3 TIMES / YEAR [MARCH & APRIL (Series 2/On-Demand) / JUNE (Series 3) / NOVEMBER & DECEMBER (Series 4)].

Criteria of Award

Candidates must fulfill at least 75% course attendance requirements by AEB to sit for examinations. DCA diploma a pass in at least 3 Modules include HA & CCA (core units) within 24 months duration based on 1st sitting of examinations.

Final Award

London Chamber of Commerce and Industry (LCCI) Level 3 Group Diploma in Computerised Accounting.

Module

The 3 sub-modules include

Higher Accounting
Computerized Accounting
Cost Accounting / Business Statistics
1. Higher Accounting

Candidates are expected to develop: an understanding of the more advanced aspects of Certificate in Book-keeping, Level 1 and Certificate in Book-keeping and Accounts, Level 2; the preparation of accounts for a partnership in relation to alterations in partners interests and the conversion of a partnership into a limited company; the accounting entries for a limited company to record the issue of share capital and the issue and redemption of debentures; how to account for distributable profits and profits prior to incorporation for companies; the preparation of cash flow statements in accordance with FRS 1 (revised); the preparation of a cash budget; the preparation of a budgeted income statement and/or balance sheet; the calculation and interpretation of accounting ratios; the principles of decision making; the interpretation of accounting statements; and accounting standards and concepts.

Syllabus topics include

Levels 1 and 2 revisited
Valuation of stocks
Valuation of fixed assets
Partnerships
Companies
Accounting for groups of companies
Cash flow statements
Accounting ratios
Budgetary control
Introduction to decision making
Concepts and accounting framework
Note: Taxation, in all its forms, is excluded from this syllabus.

ASSESSMENT OBJECTIVES:

Understanding of accounting information deriving from all sources - Manual, Mechanical & Electronics
Ability to prepare accounting statements and data in accordance with basic accounting conventions and current accounting practice as specified in the Accounting Companies Acts and in the Statements of Standard Accounting Practice which refers to: Disclosure of Accounting Policies, Stocks and Long- Term Contracts, Accounting for Depreciation, Extraordinary items and Prior-Year Adjustment, Statements of Sources and Applications of Funds, Accounting for Research and Development, Grouping Accounting, Earning Per Share
Ability to use appreciation and analytically interpret Accounting Statements and Data
2. Computerised Accounting

This module will equip the candidates ability to use MYOB computerised accounting software to: Set up partnership and limited liability company accounts; Track department and job profitability; Enter transaction data including multicurrency transaction data; Manage debtors accounts and bad debts; Manage inventory; Enter year-end journal entries before closing financial years; and Customise and generate a variety of reports.

ASSESSMENT OBJECTIVES:

1. Company Accounts

Set up the data file and the chart accounts for the following
Generate accounts listing for the various types of companies
Perform the necessary steps to distribute partnership profits at the end of the accounting period
Record the following for a limited liability company
2. Tracking Profitability of Departments and Jobs

Set up various profits centres
Record sales and expenses and allocate these to various profit centres
Generate reports relating to a selected profit centre or all profit centres
3. Multi-Currency Transactions

Set up control accounts to handle multiple currencies
Specify currency codes and exchange rates
Record sales and purchases involving multiple currencies
Update the various exchange rates and record unrealised exchange gains or losses at the end of period
Generate exchange gain or losses
4. Debtor Management

Customise and generate the debtor ageing report
Perform the following tasks to factor debts to a factoring enitity
Account for transactions in stituations where a customer is also a supplier using the following methods
Perform the steps to record

5. Advanced Inventory Management

Perform the following tasks with respect to Tradedin items
Account for consignment stock

6. Year-End Procedures and Maintenance


Make end-of period adjustments
Close the current financial year and start a new Financial year


7. Reports and Analysis

Customise and generate reports
Enter monthly budgets
Compare actual company performance against budgets

3a. Cost Accounting (Optional)

Candidates are expected to develop: an understanding of advanced aspects of the processing of cost accounting information, including stock control; a detailed understanding of how cost accounting information can be used for the purposes of short-term planning, control and decision making within business organisations; and the ability to apply this understanding in a variety of business settings.

Syllabus topics include:

Materials and stock control
Costing methods and systems
Cost-volume-profit (CVP) analysis
Budgetary planning and control
Standard costing and variances
Accounting systems
ASSESSMENT OBJECTIVES:


The methods, principles and techniques by which both planned and actual costs of operations, processes, departments, products or services are established
Responsibility for the effective use of resources involving control by variance analysis
Relevant cost for decision-making - Further aspects of Second-Level Cost Accounting Syllabus; Stock Control; Marginal Costing; Variance Accounting; Presentation of Information to Management
3b. Business Statistics (Optional)

The aim of this unit is to test the candidates ability to apply business statistics to business situations.

ASSESSMENT OBJECTIVES:

The Second Syllabus should be studied in greater detail, together with the following:

Probability, including conditional probability
Symmetry and skew of distribution
The Normal Distribution - The use of tables of normal distribution
Sampling and Sampling Distribution - Standard error of the sample mean and proportion, simple estimation
Confidence intervals for the population mean and proportion
Significance tests using normal and T distribution for one or two samples
The chi square statistic, contingency tables
Control charts and elementary statistical quality control
Correlation - The product moment correlation coefficient, including a significance test linear regression and least squares

Grading System

GRADING RESULTS
50% - 59% PASS
60% - 74% PASS WITH CREDIT
75% and above PASS WITH DISTINCTION

Expected date of release of Assessment result

Assessment results will be available to the students within 3 months upon completion of the last assessment for that assessment cycle. Appeal (if any) on assessment results must be lodged within 7 days after the release of assessment results.

Specimen Certificate

LCCI_Sample_Diploma_UPD2_BTCH1_v3_Diploma in Computerised Accounting_2