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Level 3 Foundation Diploma in Accountancy

Review and coursework completion

AB301 · Recording Financial Transactions — Week 15 of 16

CourseAB301
Week15 of 16
SemesterI
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This week’s topics

Review and coursework completion

  1. Reviewing the learning outcomes
  2. Completing and checking coursework against the criteria
  3. Self-assessment

What you will be able to do

  • 1.1 Explain why business organisations need to record financial transactions.
  • 1.2 Describe how the recording of financial transactions meets the needs of the organisation’s internal and external stakeholders.
  • 2.1 Describe principal source documents and Books of Prime (Original) Entry used to record financial transactions.
  • 2.2 Prepare principal source documents and Books of Prime (Original) Entry for business transactions.
  • 3.1 Differentiate between capital and revenue expenditure and income.
  • 3.2 Describe the accounting approaches utilised for items of capital and revenue expenditure and income.
  • 3.3 Evaluate the impact on profit and asset valuations of incorrect management of capital and revenue expenditure and income.

Activity

Guided review of every criterion; coursework completion clinic and peer review.

Study materials

The teaching notes, exercises and videos of this week are in the student portal. Your portal is set up as soon as you receive final acceptance, so you can open them before the semester starts.
Week 14Final
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Course plan
  • Week 1: Purpose of Recording Financial Transactions
  • Week 2: Stakeholder Needs and Financial Information
  • Week 3: Principal Source Documents
  • Week 4: Preparation of Business Source Documents
  • Week 5: Books of Prime Entry Overview
  • Week 6: Cash and Bank Prime Records
  • Week 7: Preparing Books of Prime Entry
  • Midterm: Midterm evaluation
  • Week 9: Capital and Revenue Classification
  • Week 10: Accounting Approaches for Capital and Revenue Items
  • Week 11: Evaluating Misclassification of Capital and Revenue
  • Week 12: Applying Recording Financial Transactions in practice: case…
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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