Weekly study3 hours
Included in an ExpertTrackCourse 3 of 4
Get full ExpertTrack access$39/month
Controls within an Accounting System
Understand how to maintain correct financial statements
Errors made during the double-entry process are almost inevitable in real life but having the skills to identify and correct them ensures your financial statements can remain accurate.
On this three-week course, you’ll understand the need for controls within the accounting system and how they are used to ensure accuracy and reliability with your reporting.
Going beyond the basics of double-entry bookkeeping, you’ll understand the issues that can arise within an accounting system and gain the skills to help you deal with them in real-world contexts.
Explore control accounts and reconciliations
To ensure your accounts are consistent and accurate, you’ll learn how to carry out the process of reconciliations. You’ll cover sales, purchase, and bank reconciliations and learn to produce control accounts and reconciliations of key values.
This knowledge is key in helping to increase the validity of the figures in your financial statements.
Learn how to produce a bank reconciliation
You’ll consider the difference in how a bank deals with cash transactions vs how a business does, and how the two agree.
With this knowledge, you’ll learn how to produce a bank reconciliation to help double-check your bookkeeping to produce figures you can rely on.
Understand types of errors in accounting and how to correct them
You’ll finish the course by exploring the errors within the accounting system, and how you can correct them either with or without a suspense account. You’ll also explore irrecoverable debts and how to account for them.
By the end of the course, you’ll feel confident in your knowledge of the controls within an accounting system to help ensure your figures are accurate and complete.
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...
- Evaluate the need for controls within the accounting systems and how they are used practically.
- Apply accounting controls and discuss their importance in the overall process.
- Investigate the bigger picture and how the various processes link together and how they can give assurances.
- Identify the risk of errors arising and the need for the journal to correct these errors.
- Explore the business Cashbook as well as Petty cash and see how they are maintained.
- Compare the different types of errors and why we take the approach to correct them that we do.
- Explore irrecoverable debts, why they arise and why we need to make an adjustment for them.
Who is the course for?
This course is designed for anyone interested in learning more about how to achieve accuracy in financial statements.
It will be most beneficial for those who have knowledge of double-entry bookkeeping and want to further their skills.
You may be currently studying at college or university 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