The aim of the qualification is to further develop the introductory book-keeping practices and processes studied at level one.
At the end of the course candidates should be able to to do the following at Level 2:
- Ledger Accounting: Post ledger transactions, total and balance accounts, bringing down balances: sales ledger; purchase ledger; general ledger.
- Control Accounts: Prepare and reconcile control accounts with individual ledger account balances in subsidiary ledgers for: sales ledger control account; purchase ledger control account.
- Correction of errors: Identify different types of errors in ledger accounts: incorrect double entries, missing entries, numercial inconsistencies, incorrect calculations. Make appropriate adjustments in the Journal and the respective ledger accounts. Create and clear a suspense account where necessary.
- Accounting for capital expenditure and depreciation: Distinguish between capital and revenue expenditure; Record depreciation using: straight line method, reducing balance method. Prepare accounts for depreciation and provision for depreciation.
- Year end adjustments: Write off bad debts; Create and increase/reduce the provision for doubtful debts account; Account for accurals and prepayments in ledger accounts; Make appropriate adjustments in the journal; Prepare a trial balance from cash book and ledger balances; Prepare a revised trial balance from one initially drafted incorrectly.
- Extended trial balance: Complete an extended trial balance making adjustments for end of year: accruals; prepayments; bad debts; doubtful debts; depreciation; closing stock.
City & Guilds Level 2 Certificate in Bookkeeping and Accounts
Book-keeping and Accounts level 1 or a good knowledge of basic double entry book-keeping and other financial processes.
|Teaching & assessment||
There is one examination paper lasting 2 hours plus 10 minutes reading time. The examination consists of a number of practical tasks, all of which should be attempted by the candidate but the order in which they are undertaken will not be specified. All areas of the syllabus will be tested on every paper and questions will follow a standard format, although details will vary on each paper.
Further study - GCSE/A Level Accounting or AAT Accounting Technician courses.
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