Become a Qualified Accounting Technician!

Study an industry accredited qualification for only $25 a week – Interest FREE!

AAT Accounting Pathway Program

Become a Qualified Accounting Technician!

Fast track your accounting career with The Career Academy. This Program is unique to The Career Academy and specifically designed for those working or who have worked in an entry through to intermediate level accounting role, who wish to gain a formal qualification and recognition of their experience. AAT Global is the world’s leading professional body for accounting technicians, with over 140,000 members. Your membership gives your clients the confidence that you meet AAT Global’s renowned international standards.

Get Qualified & Earn more. Download a FREE info pack now:

Key Benefits:

  • Fast track your accounting career, increase your earning potential and get ahead with an AAT Approved Training Provider
  • Become a qualified member of the Association of Accounting Technicians (AAT)
  • Gain this qualification for your CV
  • Receive unlimited tutor support via phone and email
  • Gain AAT Professional Membership* – once you successfully complete this qualification and meet the AAT membership criteria, you can apply for AAT full membership and achieve professional MAAT status.
  • FREE Student Membership to IPA upon enrolment and Graduate Associate Membership of IPA upon completion!

Qualification details: Gain membership to AAT Global. Gain an internationally recognised credential, respected and valued by employers. Your AAT membership will be awarded by AAT Global, not AAT Australia.

Course Summary

Investment: $2,450 + GST or from only $25 per week on an interest free payment plan.

 

Assessments: Includes case studies, quizzes and written assessments.

 

Delivery and support: Online with tutor support via email or phone.

 

Duration: Approximately 300 hours. Learn at your own pace, but ideally complete one module per week.

 

Access Time: You will have access to this course for up to 18 months until you complete.

 

Qualification details: Gain membership to the Association of Accounting Technicians as an AAT. Gain an internationally recognised credential, respected and valued by employers. Your AAT membership will be awarded by AAT Global, not AAT Australia.

 

Please note completion of this Program will not meet the requirements for registration as a BAS agent in Australia. You will still need to complete the Certificate IV in Accounting or Bookkeeping to become a BAS Agent.

AAT Professional Membership

To be eligible to pursue AAT Professional Membership you are required to complete six AAT Assessments. By completing the assessments within The Career Academy Advanced Certificate in Accounting you qualify for an exemption from three of these exams, and you must complete the other three exams on-site at one of the AAT facilities in the main centres across Australia. The three exams that you must complete at the AAT venue are Financial Statements of Limited Companies, External Auditing and the Professional Synoptic Assessment.

Certificate in Accounting

Take the first step with our Certificate in Accounting which will give you a sound knowledge of the theory and practice of bookkeeping and business accounting. Gain employment and improve your career prospects by increasing your competence and skills in practical accounting areas.

AAT Professional Advanced Certificate in Accounting

Step two is completing the AAT Professional Advanced Certificate in Accounting. This compressive qualification covers higher accounting tasks, including drafting financial statements, managing budgets and evaluation of financial performance. This comprehensive course builds on the practical accounting skills and knowledge obtained through the Certificate in Accounting. It will further enhance your accounting skills, enabling you to pursue a career in accounting, finance or business.

Meet Nikki Sim – Accounting Technician during the weekdays, rally driver on the weekends!

Nikki become an Accounting Technician with The Career Academy while working full time and keeping up with her hobby of rally driving on the weekends with her partner. She said the team at The Career Academy really know how to support and guide people towards their goals and it is great that you can fit study in around your other commitments. She now works at Robinson Interiors, who provide interior fit outs for super yachts. Her role involves daily office management, PA to the CEO as well as performing the main financial functions for the business.

Certificate in Accounting

Comprises 13 modules:

  1. Accounting and Bookkeeping Fundamentals
  2. General Journal
  3. General Ledger & the Trial Balance
  4. Depreciation
  5. Adjusting Entries
  6. Financial Statements
  7. Understanding GST
  8. Fundamentals of Income Tax
  9. Accounting with Xero
  10. Accounting with MYOB Essentials
  11. Budgeting, Forecasting and Cashflow Management
  12. Financial Statement Analysis
  13. Accounting using Microsoft Excel

AAT Professional Advanced Certificate in Accounting

Comprises the following modules:
– Accounting & Business Prior Knowledge Quiz

 

Accounting with Excel:
– Accounting using Microsoft Excel

 

Accounting Principles:
– Accounting and Business
– Determining Profit
– Issues in Income Determination & Asset Valuation

 

Advanced Accounting Principles:
– Tracking Cash & Controlling Assets
– Internal Decision Making
– Analysing Financial Reports
– Financial Reporting Framework

 

Management Accounting:
– Cost Classification
– Costing Methods
– Product & Process Costing
– Standard Costs & Variance Analysis

 

Advanced Management Accounting:
– Activity Based Costing
– Budgeting & CVP Analysis
– Performance Management & Measurement
– Inventory Management & Planning
– Management Accounting: Budgeting
– Management Accounting: Decision and Control

 

Taxation:
– Fundamentals of Income Tax
– Understanding GST
– Depreciation

 

Accounting with Xero:
– Introduction to Xero Online
– Xero Chart of Accounts
– Managing Contacts with Xero
– Xero Sales, Invoices, Quotes & Inventory
– Xero Purchases & Bills
– Xero Bank Reconciliation & Managing Accounts
– Xero Reporting Overview
– Xero & Payroll Add-ons

 

Advanced Xero:
– Bank Reconciliation & Activity Statement Preparation with Xero
– Aged Receivables & Payables in Xero
– Managing Fixed Assets with Xero
– Budgeting with Xero
– Tracking Categories in Xero
– Report Preparation and Analysis in Xero
– Customising Templates in Xero
– How to Make the Most of Xero

 

Accounting Practices:
– SPFR Framework For For-Profit Entities Part 1
– SPFR Framework For For-Profit Entities Part 2
– SPFR Framework For For-Profit Entities Part 3
– Verification, Completeness & Justification
– Financial Statements of Limited Companies
– Accounting Systems & Controls

 

Auditing:
– External Auditing

 

The AAT Professional Advanced Certificate in Accounting is recognised by the Association of Accounting Technicians

Get a FREE membership to AAT on completion!

AAT is a registered charity. No. 1050724.

Accounting and Bookkeeping Fundamentals

Learning Outcomes

By the end of this course you will be able to:

 

  • Explain the function and purpose of accounting.
  • State the different forms of accounting information.
  • Identify external and internal users of accounting information and how they would use the information.
  • List the steps in the accounting cycle.
  • Explain the key concepts and assumptions underlying accounting.
  • Explain the principal qualitative characteristics and their effect on financial statements.
  • Define the basic and expanded accounting equation and explain how it is connected to the double-entry method of accounting.
  • List the different account categories and the type of accounts associated with each category.
  • Apply the accounting equation and double-entry accounting when analysing financial transactions.
  • Distinguish between accounts receivable and accounts payable.

General Journal

Learning Outcomes

By the end of this course, you will be able to:

 

  • Distinguish between the various source journals.
  • Define general journals and their purpose.
  • Identify the key components of a general journal entry.
  • State what the chart of accounts is and what account categories are included in the Chart of Accounts.
  • Identify which account categories have a default debit balance and which have a default credit balance.
  • Prepare journal entries applying debit and credit rules.
  • Prepare journal entries for accounts receivable, accounts payable, wages and owners’ equity accounts.

General Ledger & the Trial Balance

Learning Outcomes

By the end of this course, you will be able to:

 

  • Outline the steps required to post from source journals to the General Ledger.
  • Post source journals to the general ledger.
  • Calculate the closing balances of general ledger accounts.
  • Prepare general ledger accounts.
  • Explain the purpose of a trial balance.
  • Prepare a trial balance.
  • Explain errors that can occur in the trial balance.
  • Explain how reconciling accounts can verify the accuracy of a trial balance.

Depreciation

Learning Outcomes

By the end of this course, you will be able to:

 

  • Explain what depreciation is and why it is used.
  • State what assets can be depreciated.
  • Distinguish between the Straight-line method and Diminishing Balance method of depreciation.
  • Calculate depreciation and prepare journal entries using the Straight-line method.
  • Calculate depreciation and prepare journal entries using the Diminishing Balance method.
  • Calculate the gain/loss on the sale of a depreciable asset.
  • Demonstrate how depreciation is recorded in the financial statements.

Adjusting Entries

Learning Outcomes

By the end of this course, you will be able to:

 

  • Distinguish between the cash basis and accrual basis of accounting.
  • Discuss the purpose of adjusting entries.
  • Identify the key adjustments and accounts involved in adjusting entries.
  • Interpret and prepare the balance day adjustments for a range of adjusting entries.

Financial Statements

Learning Outcomes

By the end of this course, you will be able to:

 

  • Explain the purpose of the Profit and Loss Statement, and both calculate the totals of the accounts and categorise the accounts that are included in this statement.
  • State the common expense categories included in the Balance Sheet, and both calculate the totals of the accounts and categorise the accounts that are included in this statement.
  • Define what inventory is and distinguish between the two common inventory systems.
  • Prepare the journal entries that are required using both inventory systems.
  • Apply purchase and sales returns, and discounts allowances when preparing the financial statements.
  • Prepare journal entries for the opening and closing inventory.
  • Calculate the year-end stock adjustment.
  • Prepare the Profit & Loss Statement and Balance Sheet for a company.

Understanding GST

Learning Outcomes

By the end of this course, you will be able to:

 

  • Identify an overview of GST in Australia.
  • Recognise the major principles of GST.
  • Identify when GST registration is required.
  • Recognise the obligations a business has once they are registered for GST.
  • Identify the components of a valid sales invoice.
  • Identify what the term attribution means and how this affects the GST returned to the ATO.
  • Compare and contrast the cash basis and accrual basis for reporting GST.
  • Calculate the GST on a product or service.
  • Complete a basic BAS return.

Fundamentals of Income Tax

Learning Outcomes

Once you have completed this course, you should be able to:

 

  • Explain the difference between a company and a sole trader.
  • Explain what a TFN is.
  • Explain what is meant by a “self-assessment” tax system.
  • Identify what assessable income consists of, and why the residence of the taxpayer and the source of the income is important.
  • Provide an overview of the four income types; ordinary, statutory, exempt and NANE income.
  • Explain the various types of income, including exempt income, excluded income and assessable income.
  • Outline what factors influence whether an amount of income is ordinary income or not.
  • Highlight the key income tax differences between residents and non-residents.
  • State the source of income for a range of common types of income.
  • Briefly explain why when income is derived is important in respect of calculating income tax.
  • Outline the difference between general deductions and specific deductions and provide examples of each.
  • Identify the specific rules for deduction in repairs, borrowing expenses, bad debts, tax-related expenses and entertainment.
  • Calculate taxable income.
  • Reconcile accounting profit to tax profit.
  • Explain the difference between the accounting profit and tax profit.
  • Prepare a basic tax return for an individual.
  • Prepare a basic tax return for a company.

Accounting with Xero

Learning Outcomes

By the end of this section you will be able to:

 

  • Explain cloud computing and the benefits of using Xero.
  • Identify how to get started with Xero.
  • Recognise the difference between the Demo Company and other companies you may set up in Xero
  • Recognise and navigate your Xero Dashboard.
  • Demonstrate an understanding of how bank feeds work.
  • Explain the purpose of bank reconciliation and how this works in Xero.
  • Understand how overpayments and prepayments are treated in Xero.
  • Apply the various bank reconciliation options including create, transfer, match & discuss.
  • Understand how to create and apply bank rules to a range of transactions.
  • List the different invoice types available in Xero and describe each of their definitions.
  • Identify the customisable details that present on an invoice.
  • Identify the two customer statement types.
  • Summarise how to create invoices, quotes, repeating invoices and credit notes.
  • Summarise how to customise templates and apply branding themes.
  • Differentiate between tracked and untracked inventory.
  • Describe the process of adding new inventory items.
  • Explain the processes for managing bills, repeating bills and credit notes with Xero.
  • Convert source documents to bills, repeating bills and credit notes.
  • Apply payments and partial payments to bills.
  • Describe to how perform batch payments and send remittance advice.
  • Summarise how to modify payments to bills made in error.

Accounting with MYOB Essentials

Learning Outcomes

By the end of this section you will understand how to:

 

  • Describe what MYOB Essentials is.
  • Identify the functions you can perform in the software.
  • Explain cloud computing.
  • Recognise the system requirements for this software.
  • Recognise the important elements of the Dashboard.
  • Identify the Banking area of the Dashboard.
  • Outline how to set up and manage bank feeds.
  • Outline how to manually import bank statements.
  • Identify the bank transactions page and perform the different functions on this page.
  • Describe how to match bank transactions.
  • State how to allocate bank transactions and create allocation rules.
  • Explain bank reconciliations in Essentials.
  • List why contacts are created.
  • Identify how to create and manage contacts.
  • Explain how to find a contact via filtering or sorting.
  • Explain how to use contacts in transactions.
  • Prepare quotes.
  • Locate the Invoice page and where to view them.
  • Prepare invoices.
  • Locate the customer invoices report.
  • Prepare customer payments.
  • Prepare customer returns.
  • Process customer returns.
  • Locate the sales history page.
  • Prepare customer statements.
  • Explain what items are and where they can be accessed.
  • Produce new items and modify current items.

Budgeting, Forecasting and Cashflow Management

Learning Outcomes

By the end of this course, you will be able to:

 

  • Identify what a budget and a forecast is and the difference between them.
  • Recognise the importance and advantages of budgeting.
  • Know how to prepare a budget.
  • Understand how to compare with actual results and analyse variances.
  • Identify what a cashflow budget is.
  • Explain what the cash conversion cycle is and how to manage it.

Financial Statement Analysis

Learning Outcomes

When you have completed this course, you should be able to:

 

  • Identify the purpose of financial statement analysis.
  • Recognise what horizontal analysis is.
  • Analyse financial statements using the horizontal analysis approach.
  • Identify what ratio analysis is.
  • Identify the four main categories of ratios.
  • Compare the benefits and limitations of ratio analysis.
  • Define and calculate profitability ratios.
  • Define and calculate activity ratios.
  • Define and calculate liquidity ratios.
  • Define and calculate financial ratios.
  • Analyse financial statements using ratio analysis.

Accounting using Microsoft Excel

Learning Outcomes

By the end of this course, you will be able to:

 

  • Access and save excel templates.
  • Demonstrate how to open an Excel file and save this using a specific name.
  • Identify and apply formulas and functions to calculate data.
  • Demonstrate how to add content, such as pictures and charts, to spreadsheets.
  • Apply filters to spreadsheet data.
  • Demonstrate how to sort and manipulate spreadsheet data.
  • Apply a range of formatting styles to spreadsheet data.

Accounting and Business

Learning Outcomes

By the end of this course you will be able to:

 

  • Identify the purpose of accounting and its relevance to business.
  • Identify the relationship between accounting, the legal system and business.
  • Recognise the importance of the New Zealand Framework.
  • Recognise different types of businesses.
  • Identify the resources of a business.
  • Identify the main components of the Financial Statements.

Determining Profit

Learning Outcomes

By the end of this course, you will be able to:

 

  • Recognise the accounting equation and define how it relates to an accounting system.
  • Identify the definition of revenue and expenses.
  • Recognise accrual concepts for revenue and expenses.
  • Identify the difference between revenue expenditure and capital expenditure.
  • Recognise the components of a properly classified Income Statement for a small business.

Issues in Income Determination & Asset Valuation

Learning Outcomes

By the end of this course, you will be able to:

 

  • Recognise how to apply correct treatment to property, plant & equipment (PP&E).
  • Identify how to determine inventory valuation.
  • Recognise how to apply fair value to accounts receivable.
  • Identify accounting policies and notes for PP&E, inventories and accounts receivable.

Tracking Cash & Controlling Assets

Learning Outcomes

By the end of this course, you will be able to:

 

  • Explain the importance of tracking cash for the survival of the business.
  • Prepare and maintain a cash tracking spreadsheet to plan cash flow.
  • Understand the importance of controls to the reliability of the accounting information.
  • Prepare a Statement of Cash Flows and reconciliation to the P&L.

Internal Decision Making

Learning Outcomes

By the end of this course, you will be able to:

 

  • Prepare a budget.
  • Report on variances between budgeted performance and actual performance.
  • Demonstrate an understanding of breakeven analysis and contribution margin.
  • Prepare a forecast.

Analysing Financial Reports

Learning Outcomes

By the end of this course, you will be able to:

 

  • Understand the users of financial analysis.
  • Explain the importance of the solvency test.
  • Calculate and explain different financial measures.
  • Analyse business performance and report on trends, problems, possible remedies and make recommendations.

Financial Reporting Framework

Learning Outcomes

By the end of this course, you will be able to:

 

  • Explain the difference between the Statutory Financial Reporting Framework and the Accounting Standards Framework.
  • Use the Financial Reporting Framework to determine reporting, assurance and filing requirements.
  • Determine the Appropriate Accounting Standards to be applied for General Purpose Financial Reporting.
  • Understand the foundations of the Special Purpose Financial Reporting Framework for For-Profit Entities.

Cost Classification

Learning Outcomes

By the end of this course, you will be able to:

 

  • Identify the characteristic differences between Product costs and Period costs.
  • Identify the similarities and differences between management accounting and financial accounting.
  • Recognise different cost classifications.
  • Identify the concept of different costs for different purposes.

Costing Methods

Learning Outcomes

By the end of this course you should be able to:

 

  • Recognise the definition of variable costing.
  • Identify the definition of absorption costing.
  • Recognise the components that make up product and period costs for variable costing.
  • Identify the components that make up product and period costs for absorption & variable costing.

Product & Process Costing

Learning Outcomes

By the end of this course, you will be able to:

 

  • Recognise what the weighted average unit cost method is and the formula to calculate it.
  • Identify the objective of support department cost allocation.
  • Recognise the difference between job order and job process costing methods.
  • Identify what equivalent units of production are and the calculation of EU.
  • Recognise the definition of a processing department.
  • Identify the order of the steps to determine unit cost.
  • Identify the order of steps that product costing follows.

Standard Costs & Variance Analysis

Learning Outcomes

By the end of this course, you should be able to:

 

  • Recognise the meaning of standard costing.
  • Identify the difference between quantity standards and cost/price standards.
  • Recognise what the term “Management by exception” means.
  • Identify what variance analysis is and the two types of variances that can exist.
  • Recognise components that make up the variance analysis cycle.
  • Identify formulas and calculations for a range of variance.
  • Identify a range of common potential variance causes.

Activity Based Costing

Learning Outcomes

By the end of this course, you should be able to:

 

  • Identify what Activity Based Costing (ABC) is.
  • Recognise a range of advantages to using an ABC system.
  • Identify common activity measures.
  • Recognise how ABC differs from traditional cost accounting.
  • Identify what an activity and an activity pool are.
  • Recognise the various cost hierarchies and when each would be used.

Budgeting & CVP Analysis

Learning Outcomes

By the end of this course, you should be able to:

 

  • Recognise the definition and the key purposes of budgeting.
  • Identify types of Financial & Operating Budgets.
  • Recognise the definition & purpose of Cost-Volume-Profit Analysis.
  • Identify how to calculate a Contribution Margin.
  • Recognise how to accomplish Break-even analysis.
  • Identify the Equation Method and how to formulate it.
  • Identify what the Equation and Contribution Margin Methods are as well as their purpose.

Performance Management & Measurement

Learning Outcomes

By the end of this course, you will be able to:

 

  • Identify what a Balanced Scorecard is and its purpose.
  • Recognise what SMART KPIs are and what they are used for.
  • Identify what a benchmark is and its benefits.
  • Recognise the steps of the benchmarking process.
  • Identify how to develop effective management reports.
  • Recognise Performance Evaluation systems and their uses.
  • Identify how to present performance information so it is easily understood.
  • Recognise how to use tools to analyse reports.

Management Accounting: Decision and Control

Learning Outcomes

By the end of this course, you should be able to:

 

  • Distinguish between different cost classifications and evaluate their use in a management accounting function
  • Discriminate between and use marginal costing and absorption costing techniques
  • Recognise and calculate measures of profitability and contribution
  • Discuss how standard costing can aid the planning and control of an organisation
  • Calculate standard costing information
  • Calculate standard costing variances
  • Prepare and reconcile standard costing operating statements
  • Analyse and present effectively a report to management based on standard costing information
  • Calculate key statistical indicators
  • Use and appraise key statistical indicators
  • Identify and calculate key financial and non-financial performance indicators
  • Evaluate key financial and non-financial performance indicators
  • Make recommendations using decision-making techniques
  • Make recommendations and effectively communicate to management based on analysis
  • Use life cycle cost to aid decision making
  • Use target costing to aid decision making
  • Calculate activity based costing (ABC) information
  • Evaluate the commercial factors that underpin the life cycle of a product
  • Take account of ethical considerations throughout the decision-making process

Inventory Management & Planning

Learning Outcomes

By the end of this course, you should be able to:

 

  • Identify what Just In Time Inventory Management is.
  • Recognise key features of JIT.
  • Identify what Economic Order Quantity Inventory Management is.
  • Recognise formula to calculate EOQ.
  • Identify assumptions underlying EOQ.
  • Recognise the formula for the Reorder Point.
  • Identify what to consider when making pricing decisions.
  • Recognise the difference between relevant & irrelevant costs.
  • Identify pricing policies for new & established products.

Management Accounting: Budgeting

Learning Outcomes

By the end of this course, you should be able to:

 

  • Identify internal and external sources of information used to forecast income and expenditure
  • Use statistical techniques to forecast income and expenditure
  • Discuss the purpose of revenue and cost forecasts and their link to budgets
  • Identify the impact of internal and external factors on income and expenditure forecasts
  • Identify budgetary responsibilities and accountabilities
  • Identify and calculate the effect of production and sales constraints
  • Prepare planning schedules for physical production resources
  • Calculate budgets for different types of cost
  • Prepare draft budgets from historical data, forecasts and planning assumptions
  • Prepare cash flow forecasts
  • Discuss how budgeting can promote effective, ethical and focused management
  • Discuss the use of budgeting for planning, coordinating, authorising and cost control
  • Break a budget down into control periods
  • Recommend appropriate performance measures to support budgetary control
  • Integrate standard costing into budgetary control
  • Prepare and explain a flexed budget
  • Calculate variances between budget and actual income and expenditure
  • Review and revise budgets to reflect changing circumstances
  • Discuss the basic methods of budgeting and make recommendations for their use
  • Plan and agree draft budgets with all parties involved
  • Analyse variances and explain their impact on the organisation
  • Effectively present budgetary issues to management

Fundamentals of Income Tax

Learning Outcomes

Once you have completed this course, you should be able to:

 

  • Explain the difference between a company and a sole trader.
  • Explain what a TFN is.
  • Explain what is meant by a “self-assessment” tax system.
  • Identify what assessable income consists of, and why the residence of the taxpayer and the source of the income is important.
  • Provide an overview of the four income types; ordinary, statutory, exempt and NANE income.
  • Explain the various types of income, including exempt income, excluded income and assessable income.
  • Outline what factors influence whether an amount of income is ordinary income or not.
  • Highlight the key income tax differences between residents and non-residents.
  • State the source of income for a range of common types of income.
  • Briefly explain why when income is derived is important in respect of calculating income tax.
  • Outline the difference between general deductions and specific deductions and provide examples of each.
  • Identify the specific rules for deduction in repairs, borrowing expenses, bad debts, tax-related expenses and entertainment.
  • Calculate taxable income.
  • Reconcile accounting profit to tax profit.
  • Explain the difference between the accounting profit and tax profit.
  • Prepare a basic tax return for an individual.
  • Prepare a basic tax return for a company.

Understanding GST

Learning Outcomes

By the end of this course, you will be able to:

 

  • Identify an overview of GST in Australia.
  • Recognise the major principles of GST.
  • Identify when GST registration is required.
  • Recognise the obligations a business has once they are registered for GST.
  • Identify the components of a valid sales invoice.
  • Identify what the term attribution means and how this affects the GST returned to the ATO.
  • Compare and contrast the cash basis and accrual basis for reporting GST.
  • Calculate the GST on a product or service.
  • Complete a basic BAS return.

Depreciation

Learning Outcomes

By the end of this course, you will be able to:

 

  • Explain what depreciation is and why it is used.
  • State what assets can be depreciated.
  • Distinguish between the Straight-line method and Diminishing Balance method of depreciation.
  • Calculate depreciation and prepare journal entries using the Straight-line method.
  • Calculate depreciation and prepare journal entries using the Diminishing Balance method.
  • Calculate the gain/loss on the sale of a depreciable asset.
  • Demonstrate how depreciation is recorded in the financial statements.

Introduction to Xero Online

Learning Outcomes

By the end of the course, you will be able to:

 

  • Explain cloud computing and the benefits of using Xero.
  • Identify how to get started with Xero.
  • Recognise the difference between the Demo Company and other companies you may set up in Xero.
  • Recognise and navigate your Xero Dashboard.

Xero Chart of Accounts

Learning Outcomes

By the end of this course you will be able to:

 

  • Describe the process for accessing the Chart of Accounts in Xero.
  • List the account classification groups and the code ranges for each.
  • Describe the process for adding a new account, to the Chart of Accounts.
  • Explain the automatic process that the Xero program applies for Tax settings.
  • Apply the process for updating and editing accounts.
  • Demonstrate an understanding of the implications of importing a chart of accounts.

Managing Contacts with Xero

Learning Outcomes

By the end of this course you will understand how to:

 

  • Describe the steps for creating new customers and suppliers in Xero.
  • Explain the process for importing and exporting contacts.
  • Summarise the steps for merging contacts and creating contact groups.
  • Change and manage a contact’s information.
  • Explain the process for archiving a contact, and restoring an archived or merged contact.

Xero Sales, Invoices, Quotes & Inventory

Learning Outcomes

By the end of the course, you will be able to:

 

  • List the different invoice types available in Xero and describe each of their definitions.
  • Give examples of the invoice details that can be customised to suit.
  • Identify the two customer statement types.
  • Demonstrate how to create invoices, quotes, repeating invoices and credit notes.
  • Demonstrate how to customise templates and apply branding themes.
  • Differentiate between tracked and untracked inventory.
  • Describe the process of adding new inventory items.

Xero Purchases & Bills

Learning Outcomes

By the end of this course you will be able to:

 

  • Explain the processes for managing bills, repeating bills and credit notes with Xero.
  • Convert source documents to bills, repeating bills and credit notes.
  • Apply payments and partial payments to bills.
  • Describe how to perform batch payments and send remittance advice.
  • Summarise how to modify payments to bills made in error.

Xero Bank Reconciliation & Managing Accounts

Learning Outcomes

By the end of the course, you will understand how to:

 

  • Demonstrate an understanding of how bank feeds work.
  • Explain the purpose of bank reconciliation and how this works in Xero.
  • Understand how overpayments and prepayments are treated in Xero.
  • Apply the various bank reconciliation options including create, transfer, match & discuss.
  • Understand how to create and apply bank rules to a range of transactions.

Xero Reporting Overview

Learning Outcomes

By the end of this course, you will understand how to:

 

  • Describe the most common reports available in Xero.
  • Identify how to add a report as a favourite.
  • Explain how to customise reports in Xero.
  • Explain the different report views in Xero.

Xero & Payroll Add-ons

Learning Outcomes

By the end of this course you should be able to:

 

  • List five Payroll providers that integrate with Xero.
  • Explain how to connect various payroll add-ons to the Xero interface.
  • Explain how to export the payroll data to Xero from various add-ons.

Bank Reconciliation & Activity Statement Preparation with Xero

Learning Outcomes

By the end of this course you will be able to:

 

  • Reconcile your bank statements with your Xero bank Ledger.
  • Produce and manage transaction rules.
  • Produce the Bank Reconciliation Summary report.
  • Generate an Activity Statement.

Aged Receivables & Payables in Xero

Learning Outcomes

By the end of this course, you will be able to:

 

  • List the factors for managing account receivables, effectively.
  • Summarise the Aged Receivables process, list the reports and explain how to filter the results.
  • Summarise the Aged Payables process, list the reports and explain how to filter the results.
  • Explain the process for obtaining the Aged Receivables and Aged Payables balance for your company, at a given point in time.
  • Explain what the Cash Conversion Cycle is, and how it relates to both Aged Receivables & Aged Payables.
  • Describe the process for running the different cash conversion ratio reports in Xero, i.e. DIO, DSO, DPO.

Managing Fixed Assets with Xero

Learning Outcomes

By the end of this topic you will be able to:

 

  • Distinguish between the fixed asset register, the depreciation schedule and the fixed asset reconciliation reports.
  • Explain the process for setting up fixed assets in Xero.
  • Explain the processes for Adding, Editing and Registering Fixed assets.
  • Describe the process in Xero for selling or disposing an asset.
  • Explain how to view the Fixed asset register and Disposal Schedule in xero.
  • List the six depreciation options available in Xero.
  • Explain the process to roll back the depreciation in Xero.
  • State the process for generating the Fixed Asset Reconciliation report and the Depreciation schedule in Xero.

Budgeting with Xero

Learning Outcomes

By the end of this course, you will be able to:

 

  • Outline the purpose/s of creating and working to a Budget.
  • Explain how to create an Overall Budget in Xero.
  • Describe the process for setting up a new Budget both with or without tracking.
  • Explain the process in Xero for both exporting and importing a budget.
  • Explain the process in Xero for generating a Budget Variance report.

Tracking Categories in Xero

Learning Outcomes

By the end of this course you will understand how to:

 

  • Explain the process for creating Tracking Categories with Xero.
  • Explain the process for setting up the tracking of new or past transactions.
  • Explain how to setup tracking options for existing or new contacts.
  • Produce Reports with Tracking Categories.
  • Describe the processes to Delete, Archive, Restore and Rename Tracking Categories.

Report Preparation and Analysis in Xero

Learning Outcomes

By the end of this course, you will be able to:

 

  • Give examples of the wide range of reports that can be generated in Xero.
  • Explain the key aspects of each type of balance sheet report.
  • Explain the process for generating the Cash Summary report in Xero.
  • Explain the process for generating the Profit and Loss report in Xero.
  • List the steps involved to access the Business performance ratio reports.
  • Define what ‘Ratio Analysis’ is, and list the 4 main categories of financial ratios.
  • Give examples of key ratios and explain how each is calculated.

Customising Templates in Xero

Learning Outcomes

By the end of this course you will be able to:

 

  • Explain the process of how to create and upload a Custom Template (Branded Theme).
  • Describe the two aspects for customising templates.
  • Explain how to assign a branded theme to a specific Invoice, Purchase Order or Credit Note and set a branded theme as a default theme.
  • Describe the process to modify and/or delete existing templates.

How to Make the Most of Xero

Learning Outcomes

By the end of this course, you will be able to:

 

  • Explain the processes for assigning, unassigning, reassigning a billable expense to a customer.
  • Define what the Chart of Accounts is and its use for an organisation.
  • Distinguish the difference between a system account and a locked account.
  • List the compatible file types that can be used to import & export data with Xero.
  • Give examples of compatible Xero Apps and determine if they will be useful.
  • Describe a multitude of Tips & Tricks for the effective use of Xero.

SPFR Framework For For-Profit Entities Part 1

Learning Outcomes

By the end of this course, you will be able to:

 

  • Identify the reporting requirements for revenue.
  • Recognise an overview of the reporting requirements for inventories.
  • Identify the reporting requirements for property, plant & equipment.
  • Recognise a summary of the reporting requirements for intangible assets, including goodwill.
  • Identify the reporting requirements for the impairment of assets.
  • Recognise a range of accounting notes that adhere to the reporting requirements.

SPFR Framework For For-Profit Entities Part 2

Learning Outcomes

By the end of this course, you will be able to:

 

  • Identify a brief overview of the reporting requirements for financial instruments.
  • Recognise the reporting requirements for provisions and contingencies.
  • Identify the reporting requirements for leases.
  • Recognise the main reporting requirements for employee benefits.
  • Identify a summary of the reporting requirements for equity.
  • Recognise five legal requirements that relate to the issue of shares or dividends.
  • Identify a range of accounting notes that adhere to the reporting requirements.

SPFR Framework For For-Profit Entities Part 3

Learning Outcomes

By the end of this course, you will be able to:

 

  • Recognise what the reporting requirements for income taxes are.
  • Identify the reporting requirements for GST.
  • Recognise what events after balance date are and outline the reporting requirements for these events.
  • Identify the reporting requirements for related party transactions.
  • Recognise the reporting requirements for equity.
  • Identify a range of accounting notes that adhere to the reporting requirements.

Verification, Completeness & Justification

Learning Outcomes

By the end of this course, you will be able to:

 

  • Recognise what workpapers are and their purpose.
  • Identify which P&L items are likely to be reviewed.
  • Recognise balance sheet validation documents and their evidence strength.
  • Identify referencing protocols.
  • Recognise drafting & review note examples.
  • Identify potential issues when reviewing a first draft of a workpaper package.

Financial Statements of Limited Companies

Learning Outcomes

By the end of this course, you will be able to:

 

  • Explain the regulatory framework that underpins financial reporting
  • Explain the International Accounting Standards Board (IASB) Conceptual Framework that underpins financial reporting
  • Discuss the ethical principles that underpin financial reporting in accordance with the AAT Code of Professional Ethics
  • Examine the effect of international accounting standards on the preparation of financial statements
  • Draft a statement of profit or loss and other comprehensive income
  • Draft a statement of financial position
  • Draft a statement of changes in equity
  • Draft a statement of cash flows
  • Draft a consolidated statement of profit or loss for a parent company with one partly-owned subsidiary
  • Draft a consolidated statement of financial position for a parent company with one partly-owned subsidiary
  • Calculate ratios with regard to profitability, liquidity, efficient use of resources and financial position
  • Appraise the relationship between elements of the financial statements with regard to profitability, liquidity, efficient use of resources and financial position, by means of ratio analysis
  • Effectively present an analysis with recommendations

External Auditing

Learning Outcomes

By the end of this course, you will be able to:

 

  • Demonstrate an appreciation of the concept of assurance
  • Discuss the objectives of audits conducted under International Standards on Auditing (ISA)
  • Identify the principles and characteristics of ethical codes and the implications for the auditor
  • Consider threats to the fundamental ethical principles and the independence of auditors
  • Evaluate safeguards to eliminate or reduce threats to the fundamental ethical principles and the independence of auditors
  • Apply the fundamental principle of confidentiality
  • Demonstrate an understanding of the principles of internal control
  • Identify the main features of an accounting system
  • Evaluate the effectiveness of an accounting control system
  • Identify how internal controls mitigate risks
  • Evaluate methods used to obtain audit evidence in a given situation
  • Evaluate audit techniques used in an IT environment
  • Evaluate and use different sampling techniques
  • Develop an audit approach suitable for a given situation
  • Select procedures for a given assertion
  • Demonstrate an understanding of how audit risk applies to external auditing
  • Demonstrate how the concept of materiality applies to external auditing
  • Analyse the key audit risks for a given situation
  • Apply audit procedures to achieve audit objectives
  • Examine the role of audit working papers
  • Select and justify matters to be referred to a senior colleague
  • Evaluate audit evidence and recommend a suitable audit opinion
  • Effectively report audit findings to management

Download a FREE course guide!