Personal Development Skills - Farm Accounts.
Introduction
Farm Accounts
The purpose of the unit is to investigate the various roles of accounts and accounting information in relation to those resource allocation decisions, which are concerned with making the best use of resources.
AIMS:
The aim of the unit is to enable students to become confident, independent and effective self directed learners and to provide a means by which students can monitor, build and reflect on their personal development. The unit will also introduce the learner to the processing of financial data within the accounting information system, and the special considerations connected with the need for internal information, and external financial accountability. The use of accounts and accounting information is considered in the resource management problems of recording, planning, decision-making and control. The emphasis of the unit is upon understanding the purposes of accounting, why the accounting model is constructed the way it is, and how it works in an agricultural business environment.
LEARNING OUTCOMES:
Within the context of land based business the student will, by the end of the module be able to:
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Demonstrate the ability to learn effectively and independently.
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Understand how they are learning and relate this to the wider context of their chosen subject/sector.
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Improve their general and subject specific skills for study and career management.
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Articulate their own personal goals, evaluate their progress towards their achievement and plan for personal education and career development.
Learning and Teaching Strategy:
The unit will be delivered through a series of lectures, practical workshops and academic tutorials, and will develop the following sector specific skills.
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Analyse the need for accounts and construct accounts including single entry, cash analysis and profit and loss.
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Construct and interpret a cash flow from a cash analysis account and from predicted income and expenses of a business.
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Define and explain what is meant by the accounting equation and complete practical examples.
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Compile a balance sheet and calculate and evaluate gross margins.
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Construct partial and complete budget and interpret their outcomes.
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Complete a final accounts analysis, interpret and evaluate the findings.
Lectures and Notes to download.
What is accounting?
Balance Sheet Spreadsheet Task
Keeping Records.
Spreadsheet Cashbook to download
From Cash Analysis to Profit & Loss Account
Spreadsheet for Profit & Loss Account to download
Double Entry Book-keeping
Trail Balance
Using Trial Balance to produce Trading and Profit & Loss A/c
Using the Trial Balance to produce a Balance Sheet
Financial Control Systems
Interpreting Financial Accounts
Includes analysis of financial accounts - useful for assignment!
Cash Analysis Review + Contra Entries & Bank Reconciliation
Very useful for assignment!
Budgeting
Very useful for assignment!
Depreciation
Spreadsheet with types of depreciation
Assignment Data
Completed March Cash Analysis
I have put this up as we did not get time to do it in class. Use this as the starting point from which to do the April Cash Analysis and Bank Reconciliation