Liston Level 1 Accounting

Accounting is the language of business. It provides a system of measuring the money value of transactions in business and for individuals. The course involves personal accounting, financial accounting, the accounting process and the application of these principles and processes to individuals, clubs and sole traders.

General
This course aims to:
•Develop student’s understanding of the role in society as a financial language for partnerships, companies and manufacturing concerns.
•Provide students with knowledge of the principles, processes and systems of Accounting.
•Enable students to apply financial knowledge and skills to practical situations.

This level of study is organised into fiver major themes. These themes will be taught in the following order.
Theme 1 - The Conceptual basis of Accounting
You will develop an understanding of the foundations of Accounting, the principles on which it is based and how they are applied in a range of situations.
Theme 2 - Processing
You will learn how to record and process the impact of financial transactions for particular entities
Theme 3 - Accounting Systems
You will learn to be able to describe and evaluate a job cost system for a business which produces a good or provides a service.
Theme 4 - Accounting Reports
You will learn how to present and report financial information to interested parties for particular entities.
Theme 5 - Decision Making
You will learn how to analyse, interpret and evaluate financial and non-financial information to make informed decisions.

 Liston Standards 2024 Accounting.

1.1 Demonstrate an understanding of Accounting concepts of small entities.

(3 credits) External

1.2 Process financial transactions for a small entity.

(5 credits) Internal

1.3 Prepare financial statements for sole trader.

(5 credits) External

1.4 Prepare financial information for a community organsiations Annual General Meeting.

(4 Credits) Internal

1.5 Interpret accounting information for sole proprietors.

(4 credits) External

1.6 Make a financial decision for an individual or group.

(3 credits) Internal