Preparing Final Accounts (SQA HN Unit F7JR 34)

This Unit is designed to introduce you to the final accounts of sole traders (from incomplete records), partnerships and limited companies that operate as either traders or manufacturers. The final accounts comprise of profit and loss accounts and balance sheets and you will learn how to prepare and present these statements in accordance with current accounting standards.
As cash flow is important to businesses you will learn how to produce cash flow statements for limited companies.
Business organisations need to analyse their financial position in terms of profitability, liquidity and efficiency and you will learn how to calculate and analyse accounting ratios to provide this information.

Credit points and level: 2 HN Credits at SCQF level 7: (16 SCQF credit points at SCQF level 7)

For further information on this course, please visit the SQA website.

HOW WILL I BE ASSESSED?

This Unit is assessed using three separate assessments.

In order to complete this Unit successfully, you will be required to achieve a satisfactory level of performance in all assessed work.

ENTRY REQUIREMENTS

Candidates would normally be expected to have some prior knowledge of book-keeping. This could be demonstrated by achievement of the HN Unit F7JV 34: Recording Financial Information or similar qualification at SCQF level 6/7 prior to undertaking this Unit