The HNC (Level 4) is concerned with the application of skills for identifying and recording financial transactions in accounts and ledgers following the principles of double entry bookkeeping; drafting and interpreting the financial statements of sole traders, partnerships and limited companies. Students will also acquire knowledge of information to be presented to users of the financial statements and apply the rules and principles established by international accounting standards (IAS and ... READ MORE

The HNC (Level 4) is concerned with the application of skills for identifying and recording financial transactions in accounts and ledgers following the principles of double entry bookkeeping; drafting and interpreting the financial statements of sole traders, partnerships and limited companies. Students will also acquire knowledge of information to be presented to users of the financial statements and apply the rules and principles established by international accounting standards (IAS and IFRS) to these financial statements.

Students will also gain knowledge about internal control and accounting systems based on the operations of accounting functions within an organisation and evaluating their effectiveness.

Students will develop the knowledge to be able to use a range of accounting concepts and techniques to analyse information on expenditure; make judgements to support decision making, planning and control by managers. Budgets are an essential tool in planning, coordinating, authorising and cost control. In preparation for the workplace students will learn how to create appropriate forecasts and budgets for a wide range of activities and circumstances; to agree the budgets with other functional managers and to monitor results against budget and
trigger suitable management interventions.

Students will need to understand the impact and significance of taxation on individuals in both incorporated and unincorporated businesses. In the workplace students will be of benefit to the business, in ensuring tax rules are applied appropriately to ensure tax liability are assessed and paid to Her Majesty’s Customs and Excise (HMRC). Students will also examine how all sources of income for individuals, such as employment income, capital gains, income from land and property and investment income are implemented.

Students will develop the skill of being able to give advice on the granting of credit facilities, and also the collection of monies owed in compliance with relevant legislation, good practice and organisational policy. The students will also need to appreciate the professional ethical standards that govern their behaviour in the workplace.