[tayowms]

More info below:

Professional Accountancy (MSc, PG Dip and and PG Cert)

We are excited to announce the launch of a brand new MSc in Professional Accountancy which is being developed between the University of London and the Association of Chartered Certified Accountants (ACCA). Academic and teaching faculty will be drawn from University College London (UCL), whose academic excellence is recognised through its top five world ranking (QS World University Rankings 2013). A postgraduate Diploma and Certificate are also being developed.

Gain two prestigious qualifications in one

Help yourself to stand out from the crowd and fast track your career by working towards a combination of qualifications. For the first time you will be able to study for a prestigious new Masters level degree in Professional Accountancy and your professional accountancy qualification at the same time. ACCA students will be able to use Professional Level exam passes to count towards the Master’s degree and some of the University of London Master’s degree modules will count towards the Professional Level of the ACCA Qualification.

Starting January 2016

You will be able to apply and register for the programme from September 2015 onwards. The first study session starts in January 2016. There will be a second study session starting in July 2016.

Entrance requirements for students, ACCA affiliate and ACCA members

You will be able to apply for this programme if you have passed the ACCA F1-F9 Fundamentals or an equivalent recognised undergraduate degree.

You will also be able to apply if you have passed some or all of the ACCA P1-P7 Professional papers. You may apply if you are an ACCA affiliate or ACCA member.

The programme is in English and details of the English Language requirements will be published in due course.

Further details and the structure of the pathways offered for students, affiliates and members will be released in March 2015.

Module fees and what is included

There is a fee to study per module in an affordable price range*. This will give you: your registration with the University of London; specially designed study materials for each module; self-assessment tools on the University Virtual Learning Environment; access to a worldwide community of learners; the university first exam entry fee; access to the online study sessions and an online tutor. A student needing to complete three modules for their masters will pay three module fees.

* Fees will be confirmed later in 2015. This does not include your annual subscription fee payable to ACCA.

Study options

You may choose the study option that suits you for any of the modules. For example, you can choose to study online for one module and for another you can select a face-to-face support package from a teaching institution in your country. A full list of available institutions (by country) will be provided on the programme page at a later date. The teaching institutions will present their own fees for tuition.

Assessment

You will be assessed by a mix of exams and coursework. For a standard module this is approximately 70-80% by exam, and 20-30% by coursework which you will submit electronically. You sit your exams at a local exam centre. The University and ACCA utilise many of the same centres for examinations around the world and a full list is available on our website.

taken from: https://www.londoninternational.ac.uk/distance-and-flexible-learning/new-courses

[tayowms]

Hi Suhrab,

The sales ledger sits in the profit and loss account and is a record of the sales that the company has made during the course of the year (records Sales income).

The sales ledger control account sits in the balance sheet (as does all other control accounts because they record balances). Another name for the sales ledger control account is trade debtors account, and is a list/ record of balances of amounts that customers who have been given credit (days to pay) owe the company.

for example:
(i’ve excluded VAT to keep it simple)

If a wholesaler sells 10 pairs of lovely Christian Louboutin shoes on a 30 days credit agreement to a retailer for £10,000, their accountant would:

Credit: Sales Ledger £10,000 (profit & loss) – business has made a sale, so sales figure for the year increases.

Debit: Sales ledger control account £10,000 (balance sheet) – but customer owes money

(If the retailer paid immediately with a card you will be debiting the bank account instead of the sales ledger control account).

29 days after the sale the retailer pays £8000 to the company via bank transfer, so the accountant did the following:

Debit: Bank Account £8,000 (balance sheet)
Credit: Sales ledger control account £8000 – this is going to reduce the balance of the amount that the customer owes.

Therefore the sales ledger control account will contain a balance of £2000 for this particular customer, which is expected to be paid in a days time (the 30th day from date of sale) otherwise it becomes an aged debtor.

I hope this helps..

All the best of luck.

Tayo

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