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The Register of Regulated Qualifications

View Unit : Prepare Financial Statements from Incomplete Records

Unit
Unit Reference Number
A/601/0751
Qualification Framework
QCF
Title
Prepare Financial Statements from Incomplete Records
Unit Level
Level 3
Unit Sub Level
None
Guided Learning Hours
16
Unit Credit Value
3
Date of Withdrawal
SSAs
15.1 Accounting and Finance
Unit Grading Structure
Pass
Assessment Guidance

Learning Outcomes and Assessment Criteria
Learning Outcome - The learner will:Assessment Criterion - The learner can:
1

Calculate the capital contribution of the owner to a business

1.1

Use the accounting equation to calculate capital from incomplete data

2

Prepare accounts from incomplete records

2.1

Construct ledger accounts from incomplete records and supplementary data

2.2

Apply accounting adjustments to ledger accounts constructed from incomplete records

3

Prepare a trial balance

3.1

Prove the arithmetic accuracy of account balances constructed from incomplete records by preparing a trial balance.

4

Prepare financial statements (for a sole trader) from incomplete records

4.1

Use ledger account balances constructed from incomplete records to draft financial statements (for sole trader)

Equivalent Units
There are no equivalences to display.
2.4.6.0L