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Overview

Financial accounting is a very crucial branch of accounting that keeps tracks of the financial progress and functioning of an organisation. It is essential for an organisation to have an accurate and precise financial accounting system to make important decisions, which is why the demand for highly talented and qualified financial individuals are at an all-time high.

If you too wish to get into or make some career advancement within the financial accounting industry, this Diploma in Fundamentals of Financial Accounting – Level 3 is a great way to get started. Successfully completing this course proves your knowledge of financial reporting, accounting system and bookkeeping system, which are all very vital to keep a business going.

Not just that, this course has also dedicated a few modules that will guide you on how to produce trial balance and other financial statements, all the while familiarising you with the other elements of financial accounting such as inventory, assets, manufacturing accounts, incomplete records, cash flows and capital structure. You will also get the opportunity to explore the regulatory framework pertaining to financial accounting and on how to deal with errors in financial accounting to produce accurate records

The course has been endorsed under the ABC Awards and Certa Awards Quality Licence Scheme. This means that Study 365 has undergone an external quality check to ensure that the organisation and the courses it offers, meet defined quality criteria. The completion of this course alone does not lead to a regulated qualification* but may be used as evidence of knowledge and skills gained. The Learner Unit Summary may be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this subject. To this end the learning outcomes of the course have been benchmarked at Level 3 against level descriptors published by Ofqual, to indicate the depth of study and level of demand/complexity involved in successful completion by the learner.

The course itself has been designed by Study 365 to meet specific learners’ and/or employers’ requirements which cannot be satisfied through current regulated qualifications. ABC Awards & Certa Awards endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met. A review of courses is carried out as part of the endorsement process.

*Regulated qualification refers to those qualifications that are regulated by Ofqual / CCEA / Qualification Wales

What will I Learn?

  • Understand the importance of financial reporting within an organization
  • Learn the accounting system and bookkeeping process which are important to keep track of the organisation’s finance
  • Discover how to produce trial balance and other financial statements
  • Explore the regulatory framework pertaining to financial accounting
  • Familiarize with inventory, assets, manufacturing accounts, incomplete records, cash flows and capital structure
  • Identify how to deal with errors in financial accounting to produce accurate records

Who is It For?

This course is ideal for anyone aspiring to get into or progress within the financial accounting industry 

Entry Requirements

  • Learners must be age 19 or over and should have a basic understanding of the English Language, numeracy, literacy, and ICT.
  • A recognised qualification at level 2 or above in any discipline.

Method of Assessment

This online course is assignment-based with learners being assessed upon the submission of a series of assignments. Once you successfully submit the assignments, students will gain a professional qualification. The assignments must be submitted to the instructor through the online learning portal. The assignments will be reviewed and evaluated, with feedback provided to the student on how well they have fared.

Please Note: Additionally, £79 is charged for assessment and certificate and you need to pay that when you are submitting your assessments only (It is not required to pay initially when you are registering). This payment can be paid into 05 installments when you are submitting your assessments.

Certification

At the end of this course successful learners will receive a Certificate of Achievement from ABC Awards and Certa Awards and a Learner Unit Summary (which lists the components the learner has completed as part of the course).

Accredited Body

Accredited body (Accreditation) ABC Awards and Certa Awards have long-established reputations for providing high quality vocational qualifications across a wide range of industries. ABC Awards and Certa Awards combine over 180 years of expertise combined with a responsive, flexible and innovative approach to the needs of our customers.

Renowned for excellent customer service, and quality standards, ABC Awards and Certa Awards also offer regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of employers across the UK.

Career Path

This certificate will improve your eligibility for a number of jobs in the finance or accounting industry. You can also use this certificate to study further in the subject or to demand for a salary increment or job promotion from your employer. Listed below are few of the jobs this certificate will help you in, along with the average UK salary per annum according to https://www.payscale.com,

  • Accountant – £28,565 per annum
  • Accounts Assistant – £18,883 per annum
  • Accounts Executive – £22,243 per annum
  • Staff Accountant – £24,115 per annum
  • Accounting Assistant – £20,352 per annum
  • Accounting Clerk – £17,609 per annum
  • Accounts Payable Clerk – £19,801 per annum

Other Benefits

  • Written and designed by the industry’s finest expert instructors with over 15 years of experience
  • Repeat and rewind all your lectures and enjoy a personalised learning experience
  • Unlimited 12 months access from anywhere, anytime
  • Save time and money on travel
  • Learn at your convenience and leisure
  • Practice exams to ensure you are 100% ready
  • Eligible for a TOTUM discount card
  • Free Career Support Service
  • 25% Discount on personal Statement and covering letter writing service
  • Free Access to Over 150 courses for 2 days (48 hours)
  • Free access to course before you purchase (For selected courses only)

Course Curriculum

1: What is Financial Accounting
What is Financial Accounting 00:00:00
2: Understanding the Accounting System
Understanding the Accounting System 00:00:00
3: Introduction to Bookkeeping
Introduction to Bookkeeping 00:00:00
☑ Assignment
Assignment Brief I – Diploma in Fundamentals of Financial Accounting Level 3 00:00:00
☑ Submit Your Assignment
4: Creating Trial Balance And Financial Statements
Creating Trial Balance And Financial Statements 00:00:00
5: How to Record the Transactions
How to Record the Transactions 00:00:00
6: Understanding the Regulatory Framework
Understanding the Regulatory Framework 00:00:00
☑ Assignment
Assignment Brief II – Diploma in Fundamentals of Financial Accounting Level 3 00:00:00
☑ Submit Your Assignment
7: What is Inventory
What is Inventory 00:00:00
8: Identifiy the Non-Current Assets
Identifiy the Non-Current Assets 00:00:00
9: Introduction to Intangible Assets
Introduction to Intangible Assets 00:00:00
☑ Assignment
Assignment Brief III – Diploma in Fundamentals of Financial Accounting Level 3 00:00:00
☑ Submit Your Assignment
10: Accounting Errors
Accounting Errors 00:00:00
11: Introduction to the Manufacturing Account
Introduction to the Manufacturing Account 00:00:00
12: What are Incomplete Records
What are Incomplete Records 00:00:00
☑ Assignment
Assignment Brief IV – Diploma in Fundamentals of Financial Accounting Level 3 00:00:00
☑ Submit Your Assignment
13: The Cash Flows Statement
The Cash Flows Statement 00:00:00
14: Understanding the Financial Statement
Understanding the Financial Statement 00:00:00
15: Understanding the Capital structure
Understanding the Capital structure 00:00:00
☑ Assignment
Assignment Brief V – Diploma in Fundamentals of Financial Accounting Level 3 00:00:00
☑ Submit Your Assignment

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