Advanced level

Papers can be taken in any order, but we suggest to take the papers in numerical order.

This consists of three compulsory papers:

5. Managing People and Systems

• To develop knowledge and understanding of the role of a manager in an effective, efficient, safe and secure accounting environment. This includes the coordination of work activities, the maintenance of an effective accounting system, people management, personal effectiveness, health and safety and security issues within the workplace.

6. Drafting Financial Statements

• To understand and apply the techniques used to prepare year-end financial statements of partnerships and limited companies which comply with legislation and accounting standards, and to interpret financial statements and the relationships between their elements using ratio analysis.

7. Planning, control and Performance Management

• To develop knowledge and understanding of the application of management accounting techniques to support the management processes of planning, decision-making, control and performance measurement.

This level also consists of taking two options papers from the three below:

8. Implementing Audit Procedures

• To develop knowledge and understanding of the audit process from the planning stage through to the reporting stage and the techniques used in the conduct of internal and external audits.

9. Preparing Taxation Computations

• To develop the ability to prepare computations of tax liability for both individuals and businesses resident in the UK for the purposes of income tax, corporation tax, capital gains tax and value added tax. In addition, to develop knowledge and understanding of the manner in which dealings must be conducted with HM Revenue and Customs, including knowledge of the statutory timescales for the submission of claims and returns and the due dates for the payment of tax liabilities.

10. Managing Finances

• To develop knowledge and understanding of the way organisations finance their operations, plan and control cash flows, optimise their use of working capital and allocate resources to capital expenditure projects.