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Understand the role of accounting within an organisation (Press the ticks on the left to mark your understanding)

Describe the purpose, structure and organisation of the accounting function and its relationships with other functions within the organisation
Explain the various business purposes for which the following financial information is required:
* Statement of profit or loss
* Statement of cash flows
* Statement of financial position
Give an overview of the organisation’s business and its critical external relationships with stakeholders
Explain how the accounting systems are affected by the organisational structure, systems, procedures and business transactions
Explain the effect on users of changes to accounting systems caused by:
* External regulations
* Organisational policies and procedures

Understand the importance and use of internal control systems

Identify the external regulations that affect accounting practice

Describe the causes of, and common types of, fraud and their impact of this on an organisation

Explain methods that can be used to detect fraud within an accounting system

Explain the types of controls that can be put in place to ensure compliance with statutory or organisational requirements

Explain how an internal control system can support the accounting function

Evaluate the accounting system and identify areas for improvement

Identify an organisation’s accounting system requirements including hardware and software packages

Review record keeping systems to confirm whether they meet an organisation’s requirements

Identify weaknesses in and the potential for improvements to, the accounting system and consider the impact on the operation of an organisation

Identify potential areas of fraud arising from lack of control within the accounting system evaluating the risk

Review methods of operating for cost effectiveness, reliability and speed

Conduct an ethical evaluation of the accounting systems

Evaluate the accounting system against ethical principles

Identify actual or possible breaches of professional ethics

Conduct a sustainability evaluation of the accounting system

Evaluate the accounting system against sustainable principles

Identify where improvements could be made to improve sustainability

Make recommendations to improve the accounting system

Make recommendations for changes to the accounting system, including ethical and sustainability considerations, with a clear rationale and an explanation of any assumptions made

Identify the effects that any recommended changes would have on the users of the system

Enable individuals to understand how to use the accounting system by use of:
* Training
* Manuals
* Written information
* Help menus

Identify the implications of recommended changes in terms of time, financial costs, benefits and operating procedures

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