Diploma in Accounting

This Diploma in Accounting builds on foundational bookkeeping skills and prepares learners for supervisory accounting roles in businesses, government agencies and professional practices across Papua New Guinea.

Learners develop advanced skills in financial reporting, management accounting, budgeting and forecasting, taxation, audit support, internal controls and computerised accounting systems.

Course learning outcomes

By completing this course, learners should be able to

Prepare and interpret financial statements for a range of business structures
Apply accounting standards to the recognition and measurement of transactions
Prepare management accounts, budgets and cash flow forecasts
Analyse financial performance and report findings to management
Apply Papua New Guinea taxation requirements to business transactions
Prepare working papers and supporting schedules for audit
Evaluate and apply internal controls over financial processes
Process complex payroll, including statutory deductions and reporting
Manage accounts payable and receivable functions at a supervisory level
Operate computerised accounting systems and maintain data integrity
Apply professional, ethical and confidentiality obligations in accounting practice
Communicate financial information clearly to non-financial colleagues

Course structure

Ten modules, each of approximately 20 hours

Financial Accounting Principles and Standards
Recording and Processing Business Transactions
Preparation of Financial Statements
Management Accounting and Costing
Budgeting, Forecasting and Cash Flow
Payroll Administration and Statutory Obligations
Taxation in Papua New Guinea
Internal Controls and Audit Support
Computerised Accounting Systems
Financial Analysis, Reporting and Professional Practice

Each module contains written lessons, a video, a knowledge quiz and a practical assignment worked through with real figures. Modules are released sequentially: you complete one before the next opens. The course concludes with a final examination, a practical project and a portfolio.

How you are graded

Module quizzes: 20%
Practical assignments: 30%
Final examination: 20%
Final project: 30%

An overall result of 70% is required to pass.

Welcome to the Diploma in Accounting 0.5

How the Accounting Diploma Runs 0.5

Assessment and Grading in the Accounting Diploma 0.5

Study Support for Accounting Students 0.5

The Purpose of Financial Accounting and Who Uses It 4

The Conceptual Framework and Qualitative Characteristics 4

Accounting Standards and the Regulatory Framework 4

The Elements: Recognition and Measurement 4

Video: Accounting Principles, GAAP and IFRS 0.5

Quiz Module 1 Quiz - Financial Accounting Principles and Standards 70% to pass · 20 min

Assignment Module 1 - Chart of Accounts and Accounting Policy Note 100 points

The Accounting Cycle at Supervisory Level 4

Accruals, Prepayments and Period-End Adjustments 4

Error Correction and the Suspense Account 4

Control Accounts and Subsidiary Ledger Reconciliation 4

Video: The Accounting Cycle from Source Document to Statements 0.5

Quiz Module 2 Quiz - Recording and Processing Business Transactions 70% to pass · 20 min

Assignment Module 2 - Transaction Processing Workbook 100 points

The Statement of Profit or Loss 4

The Statement of Financial Position 4

The Statement of Cash Flows 4

Statements for Different Business Structures 4

Video: The Three Financial Statements and How They Connect 0.5

Quiz Module 3 Quiz - Preparation of Financial Statements 70% to pass · 20 min

Assignment Module 3 - Financial Statement Preparation 100 points

Management Accounting and Cost Behaviour 4

Costing Methods: Absorption, Marginal and Activity-Based 4

Break-Even and Cost-Volume-Profit Analysis 4

Using Cost Information for Decisions 4

Video: Cost Behaviour in Managerial Accounting 0.5

Quiz Module 4 Quiz - Management Accounting and Costing 70% to pass · 20 min

Assignment Module 4 - Product Costing Exercise 100 points

The Purpose and Process of Budgeting 4

Preparing the Operating Budgets 4

Cash Flow Forecasting and Working Capital 4

Variance Analysis and Budgetary Control 4

Video: Cash Flow Forecasting and Sales Forecasting 0.5

Quiz Module 5 Quiz - Budgeting, Forecasting and Cash Flow 70% to pass · 20 min

Assignment Module 5 - Annual Budget and Cash Flow Forecast 100 points

The Payroll Cycle at Supervisory Level 4

Gross Pay, Statutory Deductions and Net Pay 4

Payroll Reconciliation, Remittance and Reporting 4

Payroll Controls and Detecting Irregularities 4

Video: Payroll Accounting — Salary, Deductions and Journal Entries 0.5

Quiz Module 6 Quiz - Payroll Administration and Statutory Obligations 70% to pass · 20 min

Assignment Module 6 - Payroll Run and Statutory Return 100 points

The Papua New Guinean Tax System and Its Administration 4

Business Income Tax and the Tax Reconciliation 4

Goods and Services Tax in Practice 4

Withholding Taxes, Compliance and Professional Boundaries 4

Video: A Beginner’s Guide to GST for Small Business 0.5

Quiz Module 7 Quiz - Taxation in Papua New Guinea 70% to pass · 20 min

Assignment Module 7 - Business Tax Computation 100 points

Internal Control: Purpose and Components 4

Designing Controls Over Key Processes 4

Fraud Risk, Detection and Response 4

Working Papers and Supporting an Audit 4

Video: Segregation of Duties as an Internal Control 0.5

Quiz Module 8 Quiz - Internal Controls and Audit Support 70% to pass · 20 min

Assignment Module 8 - Internal Control Review 100 points

Selecting and Implementing an Accounting System 4

Chart of Accounts Design and System Structure 4

Processing, Month End and System Reporting 4

Data Integrity, Security and Business Continuity 4

Video: Setting Up a Chart of Accounts 0.5

Quiz Module 9 Quiz - Computerised Accounting Systems 70% to pass · 20 min

Assignment Module 9 - Accounting Software Setup and Month End 100 points

Ratio Analysis 4

Interpreting and Reporting Financial Performance 4

Professional Ethics in Accounting 4

Building Your Career in Accounting 4

Video: Financial Ratios and How to Analyse Financial Statements 0.5

Quiz Module 10 Quiz - Financial Analysis, Reporting and Professional Practice 70% to pass · 20 min

Assignment Module 10 - Financial Analysis Report 100 points

Course learning outcomes

Course structure

How you are graded

Ishmael Nori Paul