Level 4 Diploma for Professional Accounting Technicians

This unit provides students with the skills and understanding for drafting the financial statements of single limited companies. Students will have proficient knowledge and understanding of international accounting standards, which will then be applied when drafting financial statements. Students will be able to prepare a statement of profit or loss and other comprehensive income, statement of financial position, statement of changes in equity, and statement of cash flows for a limited company. Students will also have a sound appreciation of the regulatory and conceptual frameworks that underpin the preparation of limited company financial statements.

Percentage contribution of this unit to the overall qualification grade: 25%.

Learning outcomes

• Understand the reporting frameworks that underpin financial reporting.
• Understand the accounting process.
• Understand accounting standards for non-current assets.
• Understand other accounting standards.
• Prepare financial statements.
• Interpret financial statements using ratio analysis.

This unit encompasses the key areas of planning, control, decision making and liquidity management. Students will understand how the budgetary process is undertaken. Students will be able to construct budgets and then identify and report both on areas of success and on areas that should be of concern to key stakeholders. Students will be equipped with the knowledge and skills across a range of areas that will help to enhance the control environment of an organisation. Students will also gain an appreciation of the methods used to deal with the issues surrounding both short-term and long-term decision making. This unit will also provide students with the skills to both monitor and manage liquidity. 

Percentage contribution of this unit to the overall qualification grade: 25%.

Learning outcomes

• Understand and implement the organisational planning process.
• Use cost and management accounting techniques to aid control.
• Use techniques to aid short-term and long-term decision making.
• Understand and manage organisational liquidity.

This unit teaches students about the role and importance of internal controls within an organisation and also provides the tools to identify fraud risks and assess how internal controls can be used to mitigate those risks. Students will also learn about the principles of audit and assurance and will gain a clear understanding of the regulatory environment and the role of corporate governance. This unit will provide students with an awareness of the audit process, from planning and risk assessment to the final completion and production of the audit report. Students will understand how internal controls influence audit approaches and will learn to evaluate and test these controls effectively. The unit will also explore various audit assertions and procedures, sampling techniques, and methods for obtaining sufficient and appropriate audit evidence. Finally, this unit focuses on reviewing and reporting audit findings.

Percentage contribution of this unit to the overall qualification grade: 15%.

Learning outcomes

• Understand the role of internal controls within an organisation.
• Understand the audit and assurance framework.
• Understand the planning and risk assessment process for audit engagements.
• Evaluate internal control systems as part of the audit process.
• Understand procedures for obtaining sufficient and appropriate evidence.
• Review and report findings.

This unit introduces students to taxation for taxpayers in the UK. It introduces students to the different types of income that a UK taxpayer may have, including from employment, self-employment, property and investments. Students will be able to calculate each type of income. Students will also be able to calculate National Insurance contributions on relevant types of income. This unit also introduces students to Capital Gains Tax. Students will be able to calculate Corporation Tax for companies, including income from trading, property and interest, as well as chargeable gains for companies. 

Students will also understand the administrative requirements of UK tax law, including the implications of errors, and late filing or late payments. Finally, students will understand ethical issues facing UK taxpayers and the responsibilities that an agent has in giving advice on tax issues to business clients. Students will also be able to identify tax planning opportunities, while understanding the importance of maintaining ethical standards.

Percentage contribution of this unit to the overall qualification grade: 15%.

Learning outcomes

• Understand the UK tax system and ethical behaviour.
• Calculate Income Tax and National Insurance contributions.
• Identify types of income.
• Calculate Capital Gains Tax payable by UK taxpayers.
• Prepare tax computations for trading companies.
• Understand administrative requirements of the UK’s tax regime.
• Understand tax planning opportunities.

This unit prepares students for real-world challenges and opportunities in the business environment, enhancing their employability and professional growth. By understanding complex business concepts and practices, students will be able to make informed decisions, improve organisational effectiveness, and contribute to sustainable business practices. 

Students will learn how businesses set their goals and strategies and how to make decisions that align with them. Students will develop skills to improve personal effectiveness through effective time management and enhancing communication skills. Students will also gain a sound understanding of promoting equality, diversity and inclusion (EDI) in the workplace, and managing change effectively. 

Students will be equipped with the skills to collect, clean and analyse data, understanding the principles of data protection. They will also learn how a business can use data analytics to make better business decisions. 

Students will learn the difference between laws and ethics and the importance of professional ethics in handling ethical conflicts and legal issues. This knowledge will help students navigate complex ethical and legal challenges in their professional roles, ensuring they act with integrity and uphold the highest standards of professional conduct.

Finally, students will understand key sustainability concepts and standards and will learn how to promote sustainable business practices.  Students will also be able to recognise the benefits and challenges of implementing sustainability policies.

Percentage contribution of this unit to the overall qualification grade: 20%.

Learning outcomes

• Understand business decision making.
• Understand organisational effectiveness.
• Understand ethics and law in an accounting environment.
• Understand the effective use of data in business.
• Understand the importance of sustainability in business.