Section | Criteria Covered |
Title Page | |
Index | |
1.0 Terms of Reference | |
Methodology | |
Executive summary | |
2.0 IntroductionOverview of Accounting Section under review | Understand the role of accounting within an organisation |
| 1.3 Give an overview of the organisation’s business and its critical external relationships with stakeholders. |
| 1.1 Describe the purpose, structure and organisation of the accounting function and its relationships with other functions within the organisation. |
| 1.2 Explain the various business purposes for which the following financial information is required:     * Statement of profit or loss     * Statement of cash flow     * Statement of financial position |
| 1.4 Explain how the accounting systems are affected by the organisational structure, systems, procedures, and business transactions. |
| 2.1 Identify the external regulations that affect accounting practice. |
| 1.5 Explain the effect on users of changes to accounting systems caused by:     * External regulations     * Organisational policies and procedure |
3.0 Review of current systems | Understand the importance and use of internal control systems |
| 2.5 Explain how an internal control system can support the accounting function. |
| 2.4 Explain the types of controls that can be put in place to ensure compliance with statutory or organisational requirements. |
| 2.2 Describe the causes of, and common types of, fraud and the impact of this on the organisation |
| 2.3 Explain methods that can be used to detect fraud within an accounting system |
4.0 Evaluate the accounting system and identify areas for improvement. | Decide on what an organisation requires from its accounting systems. These requirements will differ depending on the nature and size of the organisation, and students should be able to identify the requirements and benefits of different accounting...