Unit 5 Maintaining Financial Records and Preparing Accounts
Course Summary
This unit relates to the maintenance of accounts from the drafting of the initial trial balance through to the preparation of information required to produce a set of final accounts. There are three elements contained within the unit:
- Maintaining records relating to capital acquisition and disposal
- Collecting and collating information for the preparation of final accounts
- Preparing the final accounts of sole traders and partnerships
The first element is concerned with the records for capital items, how to deal with acquisitions, ongoing depreciation and the rules for disposal.
The second element requires collection of relevant information for preparing the final accounts and presentation of the information in the form of a trial balance or an extended trial balance.
The final element requires the preparation of final accounts for sole traders and partnerships.
Related links
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Brochures download
- AAT classroom and distance learning brochure
- After your AAT