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Bookkeeping Applications II

Bookkeeping Applications II – 100 Hours Certificate Course

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Learn About Bookkeeping Applications II

Want to understand how to interpret profit and loss accounts, finance, and general bookkeeping in order to make your business more successful?

Learn the importance of how bookkeeping principles are essential for handling your business on a day-to-day basis. Alternatively, if your goal is to work in an accounts department this course is ideal. This course is the next step up from Bookkeeping Foundations I.
There are no prerequisites for Bookkeeping Applications II

Learn how to apply cash flow management, stock control, budgeting, and payroll. This course is particularly suitable for businesses selling goods (trading businesses).

If you are in retail, manufacturing, trading, and primary producers, Bookkeeping Applications II, will equip to understand the importance of good bookkeeping practices.

If you have completed Bookkeeping Foundations I, then Bookkeeping Applications II, is the next level for you. This course will also help you improve your bookkeeping skills if they are not current.

Trading Businesses – Bookkeeping Applications II is ideal for this purpose!


What is a trading business? They usually sell things rather than sell services. This includes retailers, primary producers, and manufacturers. Service Providers are not covered in this course.

Trading businesses must record goods purchased and goods sold. Efficient and accurate record-keeping of these transactions is essential in knowing what your financial situation is on a day-to-day basis.

“Please Note: If your goal is to be a licensed professional bookkeeper then these two courses, Bookkeeping Foundations I and Bookkeeping Applications II, will not qualify you for this purpose. You will need to enroll with the ICB (Institute of Certified Bookkeepers) who are based in the UK.

The ICB is the world’s largest bookkeeping organisation, held in high esteem internationally. ADL is also an approved ICB Distance Learning Provider.  For more details about the ICB courses please contact our course advisors at:  [email protected] or phone +44 (0)1227 789 649  for further details.

However, if you wish to have an understanding of how bookkeeping principles work and how they can be applied to your business, irrespective of where you are located, then Bookkeeping Foundations I and Bookkeeping Applications II will be most beneficial to you.

Bookkeeping principles in general are fairly standardised around the world, with minor differences.

These two courses have been designed to cater for the global market. So whether you live in Zambia, Qatar or Europe etc, Bookkeeping Foundations I and Bookkeeping Applications II, will help you gain a solid foundation in bookkeeping knowledge.

Please Note:  If you reside in the UK  you should request the UK version of this course.
For those who reside outside of the UK, please request the International version.



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There are 10 lessons:

  1. Introduction to Bookkeeping Applications
    • Stock defines a trading business
    • Bookkeeping requirements for a trading business
    • Steps in processing stock transactions
    • Books required for a trading business
    • Trading businesses and accounting rules
    • Accounting doctrines
    • Accounting standards
  2. Decision Making -How to manage bookkeeping
    • Bookkeepers Terminology
    • Using bookkeeping as a management tool
    • What are business structures
    • Business requirements of companies
    • Financial information, and who uses it
    • Alternative approaches to accounting systems
    • Definitions and bookkeeping processes
    • Double entry bookkeeping
    • Single entry bookkeeping
    • Cash accounting
    • Modified cash accounting
    • Accrual accounting
    • Choosing depreciation methods
    • Depreciation calculation
    • Calculating depreciation with the straight line method
    • What if there is no residual value
    • How to enter depreciation in the books
    • Declining balance method of depreciation
    • Calculating percentage rate of depreciation
    • Units of activity depreciation method
    • Intangible assets
    • Tracking assets and depreciation
    • Closing stock control methods
    • Functional profit and loss in a trading business
    • Informative profit and loss presentation – segmentation, grouping expenses
    • Showing Extraordinary Revenue and Expenses
  3. Managing Cash Flow, Obtaining Finance, Managing Bad Debts and Accounts Payable
    • Definition of cash
    • The cash cycle
    • Cash flow and liquidity
    • Analysing a businesses cash flow
    • Cash flow margin
    • Statements of cash flow
    • Managing costs in a business
    • Financing a business
    • Rules for business funding
    • Business set up costs
    • Thinking outside the box
    • Loss of time and income
    • Managing bad debt
    • Initiating collection
    • Bookkeeping procedures for bad and doubtful debts
    • Accounts payable procedures
    • Accounts payable schedule
    • Ageing report
    • Source Documents -invoice, monthly statement
    • Credit purchasers journal
    • Creditors subsidiary ledger and schedule
    • Cash payments journal and creditors control account
  4. Managing Inventory Part 1
    • Difference between goods and commodities
    • Role of stock in a trading business
    • Purpose of physical stock take
    • Costing goods
    • When an articles cost changes
    • How cost relates to gross profit
    • Difference between cost of goods sold and selling expenses
    • Pricing stock
    • Mark up
    • Margin
    • Stock coding system
    • Stock sheets
    • Journals used in businesses that carry stock
    • Common journals
    • Examples of journal entries
    • Recording purchase returns in the general journal
    • Closing books
    • Closing ledger accounts
    • Preparing for new accounting period
    • Transferring balance day closing entries
    • Profit and loss account
    • Balance sheet
  5. Managing Inventory Part 2
    • Perpetual stock control
    • Stock cards and subsidiary ledger
    • Records on stock cards
    • Stock gains and losses
    • Adjustments
    • Errors in stock taking
    • Bar codes
    • Costing sales
    • Inventory turnover ratio
    • Modified general journals for perpetual stock control
    • Valuing stock methods -FIFO, LIFO, Identified cost method, weighted average, etc.
    • Terminology
  6. Establishing and Managing Control Accounts
    • Introduction
    • Grouping accounts
    • Advantages of control accounts
    • Debtors control accounts
    • Debtors subsidiary ledger and control account
    • Cash receipts journal and debtors control account
    • Credit purchasers journal
    • Creditors subsidiary ledger and control account
    • Cash payments journal and creditors control account
    • Control accounts relationship to non current assets
    • What happens at the end of assets useful life
    • Assets register
    • Disposal of non current assets
    • Creditors control accounts relationship to subsidiary accounts
    • Control accounts and expenses
    • Control accounts and inventory
  7. Budgeting Part 1
    • Introduction
    • Budget types
    • Cash budget
    • Capital budget
    • Sales budget
    • Marketing budget
    • Production budget
    • Expense budget
    • Project budget
    • Master budget
    • Inter-relationships between budgets
    • The cash budget
    • Preparing a cash budget
    • Factoring in safety margins
    • Variable Costs
    • Using net profit to evaluate business performaNCE
    • What is profitability?
    • What is gross profit?
    • What is net profit?
    • Cash flow margin
    • Return on assets margin
    • Gearing ratio
    • Owners equity margin
    • Budgeted profit and loss statements
    • Budgeted balance sheets
    • Variances in budgets
    • Budget reviews and performance reports
  8. Budgeting Part 2

    • A problem based learning project (ie. PBL) where you will prepare budgeting for a retail business.
    • PBL project is carefully designed by experts to expose you to the information and skills that we want you to learn.
    • In undertaking the project, you are given:
      • A statement of the problem (e.g. diseased animal; failing business; anorexia case study);
      • Questions to consider when solving the problem;
      • A framework for the time and effort you should spend on the project;
      • Support from the school.
  9. Payroll, PAYG Taxation, Taxation for Trading Businesses
    • How to set up a payroll system
    • Types of payments made for worek done
    • Employee records to be kept
    • Other records
    • Fringe benefits and taxation
    • Recording wage payments
    • Employee payment summary
    • PAYG Taxation
    • Using time sheets
    • Superannuation or pension funds
    • Taxation law terminology
    • Tax related expenses
  10. Financial Statement Analysis
    • Analysis and interpretation
    • Why do we analyze financial data
    • Using net profit figures to evaluate business performance
    • Analyzing cost centres in business
    • Functional classification on P & L Statement
    • Difference between analysis and interpretation
    • Ratio analysis
    • Trend analysis Vertical analysis
    • Horizontal analysis
    • When should financial data be analyzed
    • Calculating investment returns
    • Return on assets margin, equity margin
    • Cash flow ratio operation
    • Accounts receivable turnover ration
    • Evaluating business performance using net profit ratio
    • Profitability 

Please note:  Each lesson culminates in an assignment which is submitted to ADL, marked by your tutor, and returned with relevant comments, and where  necessary, extra reading.

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