Certificate in Accounting Controls and Reconciliation (CACR)-Self Paced

This module explains the accounting treatment of bad debts (irrecoverable debts) and doubtful debts (potentially uncollectible amounts), emphasizing their impact on financial accuracy and compliance with the prudence concept in accounting. Learners are introduced to the classification of receivables, journal entries for bad debt write-offs, recovery, and the creation of allowance accounts. The module also covers the use of aging analysis to assess the credit risk associated with customer accounts and determine the appropriate provision for doubtful debts

This module introduces learners to the concept of depreciation, a systematic method for allocating the cost of a tangible non-current asset over its useful life. It emphasizes the importance of recognizing depreciation as an expense that reflects the consumption of an asset’s economic benefits. Learners are introduced to different types of non-current assets, the measurement of asset cost, and key depreciation methods including straight-line, reducing balance, sum-of-digits, and units of production. The module also covers accounting entries, presentation in financial statements, and the treatment of residual value, useful life, and accumulated depreciation.

This module provides a detailed understanding of the bank reconciliation process, an essential internal control activity for ensuring the accuracy of cash and bank balances. Learners are introduced to various payment and receipt methods, differences between cash book and bank statements, and the causes of discrepancies such as timing differences and recording errors. The module also explains the process of identifying and correcting these differences through adjustments in the cash book and the preparation of the Bank Reconciliation Statement (BRS). Real-world practices like handling unpresented cheques, uncredited deposits, and dishonoured payments are also addressed.