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Issues in Measuring Profit and Financial Position (Byte Size Skills Course)
The measurement of profit and financial position is not as precise and objective as you may, at first, imagine. In order to prepare the profit and loss account and balance sheet, we have to employ estimates and assumptions. As a result, the portrayal of the financial health of a business can vary according to the particular estimates and assumptions that we make. There are three measurement areas that are critical to the measurement of profit and financial position: depreciation, stock valuation and the problem of bad and doubtful debts. In this course we examine each of these areas in turn.
By the end of this course, you should be able to:
- explain the concept of depreciation
- explain the main methods of depreciation and make appropriate calculations
- explain the various approaches to stock valuation and make appropriate calculations
- illustrate how different stock valuation methods impact on the calculation of profit
- explain how a business should account for bad and doubtful debts
- adjust the financial statements to reflect bad debts and changes in the provision for doubtful debts
- discuss the role of subjectivity in the measurement of profit and financial position
Qualification: Issues in Measuring Profit and Financial Position (Byte Size Skills Course)
On successful completion of your course, you will receive a Stonebridge Associated Colleges Certificate of Completion.
Your course certificate will also state the number of CPD points/hours the course is eligible for.
There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds.
All course fees, inclusive of all payment plans including our Premium Credit Limited option, must be settled before certification can be ordered.
*You will have access to the course for 24 months.
Introduction
Objectives
Section 1: Depreciation
1.1 General Principles
1.2 Calculating Depreciation
1.3 Methods of Depreciation
1.4 Accounting Entries
1.5 A Further Refinement
Section 2: Stock Valuation
2.1 The Stock Valuation Problem
2.2 Stock-Valuation Methods
2.3 The 'Lower of Cost or Net Realisable Value' Rule
Section 3: Credit Sales and the Problem of Bad and Doubtful Debts
3.1 Credit Sales and the Problem of Bad and Doubtful Debts
3.2 Dealing with Doubtful Debts
3.3 An Alternative Approach
Summary
Review Activity
Recommended Reading
Tutor-marked Question Paper
Assessment Method
After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.
What's Included
- All study materials
- Study Guide
- Full Tutor and Admin support
OUR PASS RATE
Accounting and Finance
97.2%
(National Average 60.7%)
Issues in Measuring Profit and Financial Position (Byte Size Skills Course)
The measurement of profit and financial position is not as precise and objective as you may, at first, imagine. In order to prepare the profit and loss account and balance sheet, we have to employ estimates and assumptions. As a result, the portrayal of the financial health of a business can vary according to the particular estimates and assumptions that we make. There are three measurement areas that are critical to the measurement of profit and financial position: depreciation, stock valuation and the problem of bad and doubtful debts. In this course we examine each of these areas in turn.
By the end of this course, you should be able to:
- explain the concept of depreciation
- explain the main methods of depreciation and make appropriate calculations
- explain the various approaches to stock valuation and make appropriate calculations
- illustrate how different stock valuation methods impact on the calculation of profit
- explain how a business should account for bad and doubtful debts
- adjust the financial statements to reflect bad debts and changes in the provision for doubtful debts
- discuss the role of subjectivity in the measurement of profit and financial position
Accounting and Finance
OUR PASS RATE
(National Average 60.7%)
97.2%
On completion of your course, you will receive a certificate:
Stonebridge Associated Colleges: Issues in Measuring Profit and Financial Position (Byte Size Skills Course) Certificate
Issues in Measuring Profit and Financial Position (Byte Size Skills Course) Certificate issued by Stonebridge Associated Colleges, to view a sample of the college’s award, please click here.
Professional Membership
On completion of this course you will be eligible to join the following Professional Associations(s):
On successful completion of your course your qualification is awarded. You will receive an attractively presented Diploma or Certificate issued by Stonebridge Associated Colleges, this will also allow you to use the letters SAC. Dip. or SAC. Cert. after your name.
Stonebridge Associated Colleges is one of the leading (and biggest) distance education colleges in the U.K and internationally. We have many thousands of students studying with us at any one time from locations all over the world. Our diplomas will always count towards your future, and will improve your prospects of future employment or higher level study etc. by proving that you have studied to a certain level, that you have proficiency in your chosen subjects and that you are interested in your field of choice. Education is always an investment in your future and you will find this to be the case with our qualifications in your jurisdiction.
Introduction
Objectives
Section 1: Depreciation
1.1 General Principles
1.2 Calculating Depreciation
1.3 Methods of Depreciation
1.4 Accounting Entries
1.5 A Further Refinement
Section 2: Stock Valuation
2.1 The Stock Valuation Problem
2.2 Stock-Valuation Methods
2.3 The 'Lower of Cost or Net Realisable Value' Rule
Section 3: Credit Sales and the Problem of Bad and Doubtful Debts
3.1 Credit Sales and the Problem of Bad and Doubtful Debts
3.2 Dealing with Doubtful Debts
3.3 An Alternative Approach
Summary
Review Activity
Recommended Reading
Tutor-marked Question Paper
Assessment Method
After each lesson there will be a question paper, which needs to be completed and submitted to your personal tutor for marking. This method of continual assessment ensures that your personal tutor can consistently monitor your progress and provide you with assistance throughout the duration of the course.
What's Included
- All study materials
- Study Guide
- Full Tutor and Admin support
Course fee
£65.99
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Our Advisors.
Our team of course advisors are keen to help.
Call us now on 0121 392 8288
Alternatively, please complete the form below and we’ll get back to you as soon as possible.
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