Bookkeeping and Accounting

PROGRAM DESCRIPTION

The Diploma in Bookkeeping & Accounting program is designed to introduce the student to bookkeeping, payroll, and accounting. This program is for students who wish to be accounting assistants or bookkeepers. During the program, students’ complete courses in business maths and calculators, spreadsheets, payroll, manual and computerised accounting, and accounting office procedures. Upon completion of the program students may begin immediate employment as accounting assistants in small, medium and large businesses performing accounts payable, accounts receivable, payroll and general bookkeeping duties. Some students of this program may use their accounting skills to establish home-based bookkeeping businesses.

LEARNING OBJECTIVES

Upon successful completion of this program, the student will have reliably demonstrated the ability to:

• Apply generally accepted accounting principles (GAAP) to complete bookkeeping functions within the accounting cycle.
• Analyse accounts receivables, payables, inventory, and payroll processing using relevant software and operating systems.
• Prepare financial statements and reports for proprietorships, partnerships, and corporations in accordance with GAAP.
• Interpret the accuracy and completeness of financial statements by applying analytical procedures and methods.
• Prepare individual income tax returns in compliance with relevant legislation and regulations using tax preparation software.
• Comprehend the impact of various tax planning strategies on individual tax liabilities to optimise financial outcomes.
• Develop a plan to support the management needs of the bookkeeping function, including planning, forecasting, budgeting, cost, and revenue management.
• Create reports for business analysis, identification of trends, and decision-making using spreadsheet and database programs.
• Analyse the potential applications of AI in accounting, taxation, language learning, and business software management to enhance efficiency, accuracy, and decision-making processes.
• Create a strategic plan for integrating AI technologies to optimise accounting and business operations.
• Foster an awareness of the ethical implications and responsibilities associated with the deployment of AI in various business contexts.