LCCL Lv3 個syllabus

Accounting (IAS) / Accounting
1Recording transactions

2Preparation of accounting statements and data:
2.1Income statements and cash records
2.2Balance sheets
2.3Partnerships
2.4Companies
2.5Accounting for groups of companies
2.6Accounting for branches, investments, joint ventures and interest on capital
2.7Cash flow statements
2.8Cash budgets
2.9Accounting ratios, working capital statements

3Use and interpretation of accounting statements and data:
3.1Measuring business performance
3.2Statements as an aid to management decisions
3.3Understanding the terminology
3.4Effect of accounting concepts and up-to-date accounting methods on final accounting statements




Cost Accounting
1Accounting for materials, labour, overheads and processes

2Stock control

3Marginal costing

4Budgetary control

5Standard costing and variances

6Accounting systems




Management Accounting
1. Double Entry Book Keeping - Data Entry in the primary and secondary books of accounts - Preparation of Trial Balance - Rectification of Errors - Final Accounts of Non-corporate organizations like Proprietary Firms and Partnership Firms - Bank Reconciliation Statement

2. Cost Accounting - Relationship with Financial Accounting - Elements of Cost - Preparation of Cost Sheet

3. Materials Cost - Materials purchasing, receiving, storing, issuing including pricing of issues

4. Labour Cost - Time Keeping and Time Booking - Idle Time - Labour Turnover

5. Overheads - Identifying the overheads with the cost center - Allocation, Apportionment and Absorption - Under Absorption and Over Absorption of Overheads

6. Elementary study of the Managerial Decision Making Techniques like -
a. Marginal Costing - Break Even Analysis, Applications of Marginal Costing in decision making - Key Factor considerations
b. Budgetary Control - Functional Budgets - Flexible Budgets
c. Standard Costing - Materials Cost and Labour Cost Variances only

Note - Problems should be covered on the following topics -
a. Preparation of financial statements of non-corporate organizations like Proprietary Firms and Partnership Firms, including Bank Reconciliation Statement
b. Cost Sheet preparation
c. Inventory Valuation
d. Overheads
e. Simple problems on concepts of Marginal Costing and Applications of Marginal Costing including Key Factor considerations
f. Cash Budgets and Flexible Budgets
g. Simple Problems on Materials Cost and Labour Cost Variances