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Level 5 Diploma in Accounting and Business

Control Account Analysis and Internal Reporting

AB504 · Financial Reporting — Week 5 of 16

CourseAB504
Week5 of 16
SemesterII
TutorOnline in the course chat

This week’s topics

Control Account Analysis and Internal Reporting

  1. Suspense accounts and error correction
  2. Internal control evaluation
  3. Drafting control analysis reports
  4. Suspense Accounts - ACCA Financial Accounting (FA) lectures

What you will be able to do

  • 2.2 Prepare control accounts from given data.
  • 2.3 Prepare a report on the outcome of an analysis of control accounts .

Activity

Start with this week’s video, then: Seminar, guided reading and a short written task: prepare control accounts from given data.

Study materials

Videos

  • Suspense Accounts - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 22 min · for registered students
  • Control Accounts part 1 - ACCA Financial Accounting (FA) Lectures · YouTube · OpenTuition · 26 min · for registered students
  • Control Accounts (part c) - ACCA Financial Accounting (FA) lectures · YouTube · OpenTuition · 16 min · for registered students

Further resources

  • Principles of Accounting Vol. 1, ch. 7.3–7.4: Subsidiary ledgers and control accounts · PDF · OpenStax, textbook chapter; pp. 431–446 · for registered students
  • Financial Accounting, ch. 6: Why Should Decision Makers Trust Financial Statements? · PDF · Saylor Academy, textbook chapter; pp. 175–206 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Admitted students ask questions on this week’s page in the student portal: an AI assistant trained on the course answers first, and during the course’s timetabled classes Connect to your tutor brings your tutor into the chat, who may start a call if needed.

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Course plan
  • Week 1: Financial Reporting Frameworks
  • Week 2: Budgeting Approaches and Strategy
  • Week 3: Variance Analysis and Budget Monitoring
  • Week 4: Principles and Preparation of Control Accounts
  • Week 5: Control Account Analysis and Internal Reporting
  • Week 6: Traditional Investment Appraisal
  • Week 7: Discounted Cash Flow and Investment Reporting
  • Midterm: Midterm evaluation
  • Week 9: Financial Analysis: Profitability and Liquidity
  • Week 10: Financial Analysis: Efficiency and Solvency
  • Week 11: Communicating Financial Information
  • Week 12: Applying Financial Reporting in practice: case studies
  • 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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