Learning equivalent would be:
Preparation of financial accounts for sole traders and partnerships including incomplete records at SCQF level 7

Regulation of financial reporting for limited companies.
Accounting standards relevant to accounting policies including inventory and revenue from contracts with customers, events after the reporting period, foreign currency translation, related party transactions, provisions and accounting for corporation tax.
Income Statement and balance sheet in a suitable regulatory format.
Interpretation of limited company financial statements.

LO1: Demonstrate an outline knowledge of current regulation for financial reporting
LO2: Identify and apply the provisions of a range of financial accounting standards
LO3: Prepare an income statement and a balance sheet in accordance with accounting regulations
LO4: Interpret and analyse the financial statements of a limited company.