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Issues in Measuring Profit and Financial Position (Byte Size Skills Course)

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  • 1 units
  • 20 guided learning hours
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

On completion of your course, you will receive two certificates:

Certificate 1 is issued by 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.

Requirements for Entry

There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds.

Professional Membership

On completion of this course you will be eligible to join the following Professional Associations(s):

Stonebridge

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

What's Included

  • All study materials
  • Study Guide
  • Full Tutor and Admin support
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

On completion of your course, you will receive two certificates:

Certificate 1 is issued by 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.

Requirements for Entry

There is no experience or previous qualifications required for enrolment on this course. It is available to all students, of all academic backgrounds.

Professional Membership

On completion of this course you will be eligible to join the following Professional Associations(s):

Stonebridge

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

What's Included

  • All study materials
  • Study Guide
  • Full Tutor and Admin support
SALE Up to 25% OFF
Ends midnight Friday 29th March
SALE ends in:
Easy Payment plans
Just £19.99 deposit
Ends midnight Friday 29th March

Fees

Choose your method of payment for Issues in Measuring Profit and Financial Position (Byte Size Skills Course)

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£82.49 £82.49
Note : If you opt to study via the paper based method there is an additional postage charge which will be highlighted during the checkout.
(Royal Mail First Class = £10 per course or Royal Mail Second Class = £5 per course, Overseas = £25).
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