Weekly study3 hours
Included in an ExpertTrackCourse 2 of 4
Get full ExpertTrack access$39/month
Accounting Transactions: Further Considerations
Advance your bookkeeping knowledge
Many businesses sell and buy on credit but accounting for these transactions needs a deeper understanding of accounting principles and concepts.
On this three-week course, you’ll gain an in-depth understanding of accounting transactions and how to record them correctly. You’ll explore credit sales and credit purchases, dealing with sales and returns, discounts, and VAT/Sales Tax.
You’ll finish the course with an understanding of how non-cash sales and purchases are accounted for and will have developed the skills to accurately record them for your financial records.
Understand the implications of credit sales
As you delve into credit sales and purchases, you’ll explore the implications of these non-cash sales.
In particular, you’ll unpack the different discounts which can be applied to a transaction and how these are accounted for in financial statements.
Explore accounting for inventory
Your inventory is a valuable asset and it’s important you know its value and cost to keep your financial statements accurate.
On the course, you’ll develop an understanding of accounting for inventory before exploring how businesses account for stock as a trading expense.
Understand VAT and hone your basic accounting skills
VAT is a key tax that all businesses should be aware of. On this course, you’ll gain knowledge of what VAT/Sales Tax is, how it works, and how it appears in the accounting records of a business.
Learning from financial specialists at Kaplan, you’ll have the opportunity to take basic accounting knowledge further by looking at more complex transactions and how to account for them.
Highlight the new, job-relevant skills you’ve gained and supplement existing qualifications with a hard-earned, industry-specific digital certificate – plus one for every course within your ExpertTrack.
- Learn the latest in your chosen industry or subject.
- Complete each course and pass assessments.
- Receive certificates validated by the educating organisation.
- Impress employers with learning outcomes you can add to your CV.
- Make your career dreams a reality.
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Learning on this course
On every step of the course you can meet other learners, share your ideas and join in with active discussions in the comments.
What will you achieve?
By the end of the course, you‘ll be able to...
- Investigate the different ways sales and purchases are made - on a cash and credit basis and discover the implications and accounting of each.
- Evaluate VAT, how it works and who is subjected to it.
- Discuss the implications of sales on credit with regards to different discounts which can be applied to a sale and its VAT implications.
- Discuss how returns of goods are dealt with from both the seller and the buyer’s perspective.
- Investigate why stock/inventory is not accounted for as part of the double entry process and how it is eventually accounted for in the profit or loss account.
Who is the course for?
This course is designed for anyone wanting to learn more about accounting and dealing with credit transactions, VAT/Sales Tax, returns, and discounts.
You may already work in an accounts department or raising invoices is part of your job role and you want to learn about more detailed transactions.
You might be currently studying at college or university and would like some extra help with these topics from a practical perspective.
This course would also be useful for those who maintain accounting records for a small business, and need knowledge of more detailed transactions and how to account for them. Or perhaps you would like a course to help you brush up on accounting knowledge gained many years ago.
Who developed the course?
Kaplan UK is a leading international provider of educational and career services. Building on a rich heritage of more than 50 years of training accountants and financial professionals, Kaplan UK serves more than 48,000 students a year, both based in the UK and from overseas, who train for AAT, CIMA, ACCA and ICAEW qualifications.
- Pay $39 per month to keep learning online
- Have complete control over your subscription; you can cancel any time
- Work at your own pace and set your own deadlines at every stage
- Only pay while you’re learning; the subscription will cancel automatically when you finish
- Complete online assessments to test your knowledge and prove your skills
- Earn digital course certificates and a final award that you can share online, with potential employers, and your professional network
- Keep access to the content of courses you complete even after your subscription ends