Qualification Grading Type
- GD2-Application of knowledge
- GD3-Application of skills
Understand the various sources of finance available to businesses.
Understand the need for financial control in a business and from source material produce a cash flow forecast.
Understand the purpose of a various accountancy forms.
Include Statement of Financial Position and Income Statements
Accurately draw up a neat profit and loss account, and justify the function of each part.
NB Profit and Loss Accounts are now more commonly referred to as Income Statements
Produce an accurate balance sheet including figures from the P&L account.
NB Profit and Loss Accounts are now more commonly referred to as Income Statements. Balance sheets are now more commonly referred to as Statements of Financial Position.
Understand how businesses interpret final accounts.