Upon completion of this unit you will:

• Prepare tax computations for sole traders and partnerships
• Prepare tax computations for limited companies
• Prepare tax computations for the sale of capital assets by limited companies
• Understand administrative requirements of the UK’s tax regime
• Understand the tax implications of business disposals
• Understand tax reliefs, tax planning opportunities and agent’s responsibilities in reporting taxation to HM Revenue & Customs

Upon completion of this unit you will:

• Understand principles and rules that underpin taxation systems
• Calculate UK taxpayers’ total income
• Calculate income tax and National Insurance contributions (NICs) payable by UK taxpayers
• Calculate capital gains tax payable by UK taxpayers
• Understand the principles of inheritance tax

Upon completion of this unit you will:

• Demonstrate an understanding of the audit and assurance framework
• Demonstrate the importance of professional ethics
• Evaluate the planning process for audit and assurance
• Evaluate procedures for obtaining sufficient and appropriate evidence
• Review and report findings

Upon completion of this unit you will:

• Prepare forecasts for cash receipts and payments
• Prepare cash budgets and monitor cash flows
• Understand the importance of managing finance and liquidity
• Understand ways of raising finance and investing funds
• Understand regulations and organisational policies that influence decisions in managing cash and finance

Upon completion of this unit you will:

• Understand relevant legislation and contract law that impacts the credit control environment
• Understand how information is used to assess credit risk and grant credit in compliance with organisational policies and procedures
• Understand the organisation’s credit control processes for managing and collecting debts
• Understand different techniques available to collect debts