Purchasing Process (3cr)

Objective

The student understands the significance of financial administration in a company’s purchasing process. The student masters and understands both the key content and tasks of external accounting as well as the principles and legislation related to preparing bookkeeping within the purchasing process. The student is able to search for and apply the information needed for preparing bookkeeping and understands how business transactions and entries in the purchasing process affect the company’s profit and financial position.
The student understands the importance of value-added tax in the purchasing process and is able to complete a VAT return.
The student’s competence in contract law meets the needs of the purchasing process.

Content

- agreements
- VAT on supplies
- create a purchase invoice
- accounting/purchase postings
- automatic postings/purchase invoices
- fees
- automatic postings / payments
- management of VAT information in purchasing
- control of VAT on purchases

Qualifications

Accounting 1 and 2
Company financial management

Assessment criteria, satisfactory (1)

The student is able to explain the key content and tasks of a company’s external accounting.
The student is able to apply the basic principles of preparing bookkeeping in relation to the purchasing process.

The student is able to search for information from given sources related to preparing bookkeeping.
The student knows what an enterprise resource planning (ERP) system is and how ERP systems are used in the daily purchasing processes of a business.
The student is able to understand how business transactions and entries related to the company’s sales affect the company’s profit and financial position.

Assessment criteria, good (3)

The student is able to explain the key content and tasks of a company’s external accounting as part of the purchasing process.
The student is able to apply the basic principles and legislation of bookkeeping in relation to the purchasing process. The student can analyse how a company’s business transactions and accounting entries affect its profit and financial position. The student is able to search for information from given sources related to preparing bookkeeping and apply the information found to essential areas.
The student is able to use an enterprise resource planning (ERP) system in the purchasing process, taking value-added tax into account.
The student knows the key terminology of the field in English and is able to read English-language articles related to the profession.

Assessment criteria, excellent (5)

The student is able to explain the key content, tasks, and role of a company’s external accounting as part of the organisation’s financial administration.
The student is able to use the purchasing module of an enterprise resource planning (ERP) system, taking value-added tax into account, and to direct VAT information to the VAT return.
The student is able to apply the basic principles and legislation of bookkeeping in the purchasing process. The student is able to search for and identify relevant accounting legislation and apply it in the purchasing process. The student is able to analyse a company’s profit and financial position.

The student understands and is able to explain the connection between a company’s bookkeeping and value-added taxation.