This qualification is suitable for anyone looking to start a career in bookkeeping and accounts, or who wish to enhance their business administration skills to progress their career. Bookkeeping and Accounts Level 1 is a great taster for those who have no accounts experience and those curious about what higher level courses might involve.
Students will learn underpinning theory including how to identify assets, liabilities, income, expenses, capital profit or loss, and the differences between trading for cash and trading on credit.
Students will also develop the skills to process customer and supplier transactions, to enter receipts and payments into the cash book and check amounts against the bank statement in preparation for bank reconciliation. Students will be introduced to the dual effect of transactions. This is a fundamental underpinning concept for double-entry bookkeeping and will support students who go on to study bookkeeping at Level 2.
Students will also learn the role that software can have in bookkeeping and the benefits and risks that different types of software may bring. They will explore the differences between cloud accounting software and traditional accounting software and learn about the importance of software security and the steps that can be taken to keep data secure.
This qualification covers a range of skills and the relevant supporting knowledge in one mandatory unit: