Certified Accounting Operations Lead - CAOL™

Certified Accounting Operations Lead - CAOL™

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Certification Overview

Add a new professional designation to your title, keep up on current trends, and challenge yourself to be the best in your field. An accountant prepares, analyzes, and maintains financial records. Accountants typically work for a company, managing that company's finances. They might perform a variety of tasks, including managing a company's payroll, taxes, and various other payments.

The demand for accountants is rising in all types of organizations and industries. Add a new professional designation to your title, keep up on current trends, and challenge yourself to be the best in your field. Open a new door in your accounting career and acquire knowledge and skills you can use in companies large and small, government offices or the nonprofit sector. The demand for accountants is rising in all types of organizations and industries.

Positions are available in a variety of industries, and can be found in firms, corporations, government, or nonprofit organizations. They might include Accountant, Auditor, Budget Analyst and Financial Manager.

The Certified Accounting Operations Lead - CAOL™ is a foundational credential awarded by ITQMA to professionals who have demonstrated core competency in project frameworks


Exam Code: CAOL™-001

Exam Information

The exam comprises of 50 Multiple Choice Questions out of which the candidate needs to score 70% (35 out of 50 correct) to pass the exam.

The total duration of the exam is 1 hour (60 Minutes).

  • The exam is conducted in AI-proctored mode and can be taken anytime, anywhere within an eight-month validity period.
  • Upon purchasing the Premium Package or an Exam Voucher Code, a voucher code with two attempts will be assigned to your login profile under the "My Vouchers" tab. You can then take the exam through the "My Exam(s)" tab in your profile. To take the exam, simply apply the voucher code.

  • The Exam Voucher included in the Premium Package or purchased separately is valid for two (2) attempts. If you are unable to pass the exam within these two attempts, you can purchase a new voucher code, which will grant you an additional two attempts.
  • Kindly Note: The voucher will not be valid for a second attempt if you pass the exam on your first attempt.

The Certified Accounting Operations Lead - CAOL™™ Certificate is valid for life.

CAOL™™ is a Trademark of ITQMA.

The Certified Accounting Operations Lead - CAOL™™ Certification has no pre-requisites (Completion of an E-Course is not mandatory from ITQMA), but we highly recommend doing the E-Course as maximum number of questions are drawn from the E-Course in the actual exam.

Download Sample Exam

Course Outline

Module 1 - Accounting - Merchandising Transactions

  • Merchandising Transactions
  • Gross Selling Price
  • Returns and Allowances
  • Cost of Goods Sold
  • Classified Income Statement

Module 2 - Measuring and Reporting Inventory

  • Merchandise Inventory
  • Determining Inventory Costs
  • Four Inventory Costing Methods
  • Pro’s and Con’s of the Four Costing Methods
  • Journal Entries for the Perpetual Inventory Procedure
  • Departures from Cost Basis for Inventory Measurement

Module 3 - Accounting - Control and Monitoring of Cash Assessment

  • Control of Cash
  • Internal Controls
  • Controlling Cash
  • The Bank Checking Account
  • Bank Reconciliation
  • Petty Cash Fund

Module 4 - Accounting - Receivables and Payables

  • Accounts Receivable
  • Uncollectable Accounts
  • Write-offs and Recoveries
  • Current Liabilities
  • Notes Receivable and Note Payable
  • Short Term Financing through Notes Payable

Module 5 - Adjustments for Financial Reporting

  • Cash versus Accrual Basis Accounting
  • Classes and Types of Adjusting Entries
  • Adjustments for Deferred Items - Expenses
  • Adjustments for Deferred Items - Depreciation
  • Adjustments for Accrued Items

Module 6 - Accounting and Its Use in Business Decisions

  • The Accounting Environment
  • Accounting Defined
  • Overview of Accounting
  • Financial Statements of Business Organizations
  • The Financial Accounting Process
  • How Transactions Affect Income Statements and Balance Sheets
  • Dividends and Equity Ratios
  • Corporate versus Sole Proprietorship or Partnership Accounting

Module 7 - Recording Business Transactions in Accounting

  • The Account and Rules of Debit and Credit
  • Recording the Transactions
  • The Accounting Cycle
  • The Accounting Process in Operation
  • Analyzing and Using the Financial Results
  • The Use of Ledger Accounts

Module 8 - Completing the Accounting Cycle

  • The Work Sheet
  • Preparation of Financial Statements from the Work Sheet
  • Accounting Systems: From Manual to Computerized
  • The Closing Process
  • A Classified Balance Sheet
  • Analysis-Current Ratio

Module 9 - Accounting Theory

  • Traditional Accounting Theory
  • Major Principles
  • Modifying Conventions
  • Objectives of Financial Statements
  • Basic Elements of Financial Statements

Module 10 - Financial Topics

  • Foundation 1
  • Foundation 2
  • Checking Accounts
  • Short Term Savings
  • Credit
  • Summary
  • Foundation 3
  • Money Management
  • Matching Product
  • Comparison with Cash Management
  • Emergency Fund
  • Managing Debt
  • Insurance and Protection
  • Employee Wages
  • Employee Benefits
  • Stock and Commodities Markets
  • Inflation
  • Homeowners Insurance
  • Taxation
  • Shares and Bonds
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Target Audience

  • Individuals working in the financial services industry
  • Auditor
  • Budget Analyst
  • Financial Assistant
  • Financial Manager
  • Professional Accountant

Certified Accounting Operations Lead - CAOL™ are trademarks of ITQMA (IT Quality Management Association). All rights reserved.