- 21 Sections
- 973 Lessons
- 32 Weeks
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- Sample ContentSample Notes, Videos, Quizzes, Cheat Sheets, Assignments and Much More For Pre-Purchase Consideration.20
- 1.1Sample Notes + Written Material For Contents of The Syllabus: The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 1.2Sample Notes + Written Material For Contents of The Syllabus: Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 1.3Sample Video Lectures For The Content: The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 1.4Sample Video Lectures For The Content: Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 1.5Sample Quizzes For Preparation: The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 1.6Sample Quizzes For Preparation: Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 1.7Sample Cheat Sheets: The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 1.8Sample Cheat Sheets: Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 1.9Sample Practice Questions/ Practice Exams: The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 1.10Sample Practice Questions/ Practice Exams: Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 1.11Sample Format Guide: The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 1.12Sample Format Guide: Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 1.13Sample Paper Pattern/ Paper Preparation/ Techniques To Attempt The Paper/ Common Mistakes To Avoid: Paper Pattern & Structure (Foundation Topics): Understanding The Overall Structure Of Paper 1 Vs Paper 2
- 1.14Sample Paper Pattern/ Paper Preparation/ Techniques To Attempt The Paper/ Common Mistakes To Avoid: Common Mistakes Across Both Papers: Debit / Credit Confusion Caused By Memorization Instead Of Logic
- 1.15Sample Mock Exam:
- 1.16Sample Mock Exam:
- 1.17Sample Solved Past Paper:
- 1.18Sample Solved Past Paper:
- 1.19Sample Past Paper Session:
- 1.20Sample Past Paper Session:
- Course Related InformationImportant Information Related To The Courses, Live Classes, Zoom Links etc.3
- Notes + Written Material For Contents of The SyllabusNotes for Chapters + Written Resources Regarding The Content142
- 3.1The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 3.2The Fundamentals Of Accounting: The Purpose Of Accounting: State The Purposes Of Measuring Business Profit And Loss
- 3.3The Fundamentals Of Accounting: The Purpose Of Accounting: Explain The Role Of Accounting In Providing Information For Monitoring Progress And Decision-making.
- 3.4The Fundamentals Of Accounting: The Accounting Equation: Explain The Meaning Of Assets, Liabilities And Owner’s Equity
- 3.5The Fundamentals Of Accounting: The Accounting Equation: Explain And Apply The Accounting Equation.
- 3.6Sources And Recording Of Data: The Double Entry System Of Book-keeping: Outline The Double Entry System Of Book-keeping
- 3.7Sources And Recording Of Data: The Double Entry System Of Book-keeping: Process Accounting Data Using The Double Entry System
- 3.8Sources And Recording Of Data: The Double Entry System Of Book-keeping: Prepare Ledger Accounts
- 3.9Sources And Recording Of Data: The Double Entry System Of Book-keeping: Post Transactions To The Ledger Accounts
- 3.10Sources And Recording Of Data: The Double Entry System Of Book-keeping: Balance Ledger Accounts As Required And Make Transfers To Financial Statements
- 3.11Sources And Recording Of Data: The Double Entry System Of Book-keeping: Interpret Ledger Accounts And Their Balances
- 3.12Sources And Recording Of Data: The Double Entry System Of Book-keeping: Recognise The Division Of The Ledger Into The Sales Ledger, The Purchases Ledger And The Nominal (General) Ledger.
- 3.13Sources And Recording Of Data: Business Documents: Recognise And Understand The Following Business Documents: Invoice, Debit Note, Credit Note, Statement Of Account, Cheque, Receipt
- 3.14Sources And Recording Of Data: Business Documents: Complete Pro-forma Business Documents
- 3.15Sources And Recording Of Data: Business Documents: Understand The Use Of Business Documents As Sources Of Information: Invoice, Credit Note, Cheque Counterfoil, Paying-in Slip, Receipt, Bank Statement.
- 3.16Sources And Recording Of Data: Books Of Prime Entry: Explain The Advantage Of Using Various Books Of Prime Entry
- 3.17Sources And Recording Of Data: Books Of Prime Entry: Explain The Use Of And Process Accounting Data In The Books Of Prime Entry: Cash Book, Petty Cash Book, Sales Journal, Purchases Journal, Sales Returns Journal, Purchases Returns Journal And The General Journal
- 3.18Sources And Recording Of Data: Books Of Prime Entry: Post The Ledger Entries From The Books Of Prime Entry
- 3.19Sources And Recording Of Data: Books Of Prime Entry: Distinguish Between And Account For Trade Discount And Cash Discounts
- 3.20Sources And Recording Of Data: Books Of Prime Entry: Explain The Dual Function Of The Cash Book As A Book Of Prime Entry And As A Ledger Account For Bank And Cash
- 3.21Sources And Recording Of Data: Books Of Prime Entry: Explain The Use Of And Record Payments And Receipts Made By Bank Transfers And Other Electronic Means
- 3.22Sources And Recording Of Data: Books Of Prime Entry: Explain And Apply The Imprest System Of Petty Cash.
- 3.23Verification Of Accounting Records: The Trial Balance: Understand That A Trial Balance Is A Statement Of Ledger Balances On A Particular Date
- 3.24Verification Of Accounting Records: The Trial Balance: Outline The Uses And Limitations Of A Trial Balance
- 3.25Verification Of Accounting Records: The Trial Balance: Prepare A Trial Balance From A Given List Of Balances And Amend A Trial Balance Which Contains Errors
- 3.26Verification Of Accounting Records: The Trial Balance: Identify And Explain Those Errors Which Do Not Affect The Trial Balance: Commission, Compensating, Complete Reversal, Omission, Original Entry, Principle.
- 3.27Verification Of Accounting Records: Correction Of Errors: Correct Errors By Means Of Journal Entries
- 3.28Verification Of Accounting Records: Correction Of Errors: Explain The Use Of A Suspense Account As A Temporary Measure To Balance The Trial Balance
- 3.29Verification Of Accounting Records: Correction Of Errors: Correct Errors By Means Of Suspense Accounts
- 3.30Verification Of Accounting Records: Correction Of Errors: Adjust A Profit Or Loss For An Accounting Period After The Correction Of Errors
- 3.31Verification Of Accounting Records: Correction Of Errors: Understand The Effect Of Correction Of Errors On A Statement Of Financial Position.
- 3.32Verification Of Accounting Records: Bank Reconciliation: Understand The Use And Purpose Of A Bank Statement
- 3.33Verification Of Accounting Records: Bank Reconciliation: Update The Cash Book For Bank Charges, Bank Interest Paid And Received, Correction Of Errors, Credit Transfers, Direct Debits, Dividends, And Standing Orders
- 3.34Verification Of Accounting Records: Bank Reconciliation: Understand The Purpose Of And Prepare A Bank Reconciliation Statement To Include Bank Errors, Uncredited Deposits And Unpresented Cheques.
- 3.35Verification Of Accounting Records: Control Accounts: Understand The Purposes Of Purchases Ledger And Sales Ledger Control Accounts
- 3.36Verification Of Accounting Records: Control Accounts: Identify The Books Of Prime Entry As Sources Of Information For The Control Account Entries
- 3.37Verification Of Accounting Records: Control Accounts: Prepare Purchases Ledger And Sales Ledger Control Accounts To Include Credit Purchases And Sales, Receipts And Payments, Cash Discounts, Returns, Irrecoverable Debts, Dishonoured Cheques, Interest On Overdue Accounts, Contra Entries, Refunds, Opening And Closing Balances (Debit And Credit Within Each Account).
- 3.38Accounting Procedures: Capital And Revenue Expenditure And Receipts: Distinguish Between And Account For Capital Expenditure And Revenue Expenditure
- 3.39Accounting Procedures: Capital And Revenue Expenditure And Receipts: Distinguish Between And Account For Capital Receipts And Revenue Receipts
- 3.40Accounting Procedures: Capital And Revenue Expenditure And Receipts: Calculate And Comment On The Effect On Profit Of Incorrect Treatment
- 3.41Accounting Procedures: Capital And Revenue Expenditure And Receipts: Calculate And Comment On The Effect On Asset Valuations Of Incorrect Treatment.
- 3.42Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Define Depreciation
- 3.43Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Explain The Reasons For Accounting For Depreciation
- 3.44Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Name And Describe The Straight-line, Reducing Balance And Revaluation Methods Of Depreciation
- 3.45Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Prepare Ledger Accounts And Journal Entries For The Provision Of Depreciation
- 3.46Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Prepare Ledger Accounts And Journal Entries To Record The Sale Of Non-current Assets, Including The Use Of Disposal Accounts.
- 3.47Accounting Procedures: Other Payables And Other Receivables: Recognise The Importance Of Matching Costs And Revenues
- 3.48Accounting Procedures: Other Payables And Other Receivables: Prepare Ledger Accounts And Journal Entries To Record Accrued And Prepaid Expenses
- 3.49Accounting Procedures: Other Payables And Other Receivables: Prepare Ledger Accounts And Journal Entries To Record Accrued And Prepaid Incomes.
- 3.50Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Understand The Meaning Of Irrecoverable Debts And Recovery Of Debts Written Off
- 3.51Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record Irrecoverable Debts
- 3.52Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record Recovery Of Debts Written Off
- 3.53Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Explain The Reasons For Maintaining A Provision For Doubtful Debts
- 3.54Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record The Creation Of, And Adjustments To, A Provision For Doubtful Debts.
- 3.55Accounting Procedures: Valuation Of Inventory: Understand The Basis Of The Valuation Of Inventory At The Lower Of Cost And Net Realisable Value
- 3.56Accounting Procedures: Valuation Of Inventory: Prepare Simple Inventory Valuation Statements
- 3.57Accounting Procedures: Valuation Of Inventory: Recognise The Importance Of Valuation Of Inventory And The Effect Of An Incorrect Valuation Of Inventory On Gross Profit, Profit For The Year, Equity And Asset Valuation.
- 3.58Preparation Of Financial Statements: Sole Traders: Explain The Advantages And Disadvantages Of Operating As A Sole Trader
- 3.59Preparation Of Financial Statements: Sole Traders: Explain The Importance Of Preparing Income Statements And Statements Of Financial Position
- 3.60Preparation Of Financial Statements: Sole Traders: Explain The Difference Between A Trading Business And A Service Business
- 3.61Preparation Of Financial Statements: Sole Traders: Prepare Income Statements For Trading Businesses And For Service Businesses
- 3.62Preparation Of Financial Statements: Sole Traders: Understand That Statements Of Financial Position Record Assets And Liabilities On A Specified Date
- 3.63Preparation Of Financial Statements: Sole Traders: Recognise And Define The Content Of A Statement Of Financial Position: Non-current Assets, Intangible Assets, Current Assets, Current Liabilities, Non-current Liabilities And Capital
- 3.64Preparation Of Financial Statements: Sole Traders: Understand The Inter-relationship Of Items In A Statement Of Financial Position
- 3.65Preparation Of Financial Statements: Sole Traders: Prepare Statements Of Financial Position For Trading Businesses And Service Businesses
- 3.66Preparation Of Financial Statements: Sole Traders: Make Adjustments For Provision For Depreciation Using The Straight Line, Reducing Balance And Revaluation Methods
- 3.67Preparation Of Financial Statements: Sole Traders: Make Adjustments For Accrued And Prepaid Expenses And Accrued And Prepaid Income
- 3.68Preparation Of Financial Statements: Sole Traders: Make Adjustments For Irrecoverable Debts And Provisions For Doubtful Debts
- 3.69Preparation Of Financial Statements: Sole Traders: Make Adjustments For Goods Taken By The Owner For Own Use.
- 3.70Preparation Of Financial Statements: Partnerships: Explain The Advantages And Disadvantages Of Forming A Partnership
- 3.71Preparation Of Financial Statements: Partnerships: Outline The Importance And Contents Of A Partnership Agreement
- 3.72Preparation Of Financial Statements: Partnerships: Explain The Purpose Of An Appropriation Account
- 3.73Preparation Of Financial Statements: Partnerships: Prepare Income Statements, Appropriation Accounts And Statements Of Financial Position
- 3.74Preparation Of Financial Statements: Partnerships: Record Interest On Partners’ Loans, Interest On Capital, Interest On Drawings, Partners’ Salaries And The Division Of The Balance Of Profit Or Loss
- 3.75Preparation Of Financial Statements: Partnerships: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 3.76Preparation Of Financial Statements: Partnerships: Explain The Uses Of And Differences Between Capital And Current Accounts
- 3.77Preparation Of Financial Statements: Partnerships: Draw Up Partners’ Capital And Current Accounts In Ledger Account Form And As Part Of A Statement Of Financial Position.
- 3.78Preparation Of Financial Statements: Limited Companies: Explain The Advantages And Disadvantages Of Operating As A Limited Company
- 3.79Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Limited Liability
- 3.80Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 3.81Preparation Of Financial Statements: Limited Companies: Understand The Capital Structure Of A Limited Company Comprising Preference Share Capital, Ordinary Share Capital, General Reserve And Retained Earnings
- 3.82Preparation Of Financial Statements: Limited Companies: Understand And Distinguish Between Issued, Called-up And Paid-up Share Capital
- 3.83Preparation Of Financial Statements: Limited Companies: Understand And Distinguish Between Share Capital (Preference Shares And Ordinary Shares) And Loan Capital (Debentures)
- 3.84Preparation Of Financial Statements: Limited Companies: Prepare Income Statements, Statements Of Changes In Equity And Statements Of Financial Position
- 3.85Preparation Of Financial Statements: Limited Companies: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders).
- 3.86Preparation Of Financial Statements: Clubs And Societies: Distinguish Between Receipts And Payments Accounts And Income And Expenditure Accounts
- 3.87Preparation Of Financial Statements: Clubs And Societies: Prepare Receipts And Payments Accounts
- 3.88Preparation Of Financial Statements: Clubs And Societies: Prepare Accounts For Revenue-generating Activities, E.g. Refreshments, Subscriptions
- 3.89Preparation Of Financial Statements: Clubs And Societies: Prepare Income And Expenditure Accounts And Statements Of Financial Position
- 3.90Preparation Of Financial Statements: Clubs And Societies: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 3.91Preparation Of Financial Statements: Clubs And Societies: Define And Calculate The Accumulated Fund
- 3.92Preparation Of Financial Statements: Manufacturing Accounts: Distinguish Between Direct And Indirect Costs
- 3.93Preparation Of Financial Statements: Manufacturing Accounts: Understand Direct Material, Direct Labour, Prime Cost And Factory Overheads
- 3.94Preparation Of Financial Statements: Manufacturing Accounts: Understand And Make Adjustments For Work In Progress
- 3.95Preparation Of Financial Statements: Manufacturing Accounts: Calculate Factory Cost Of Production
- 3.96Preparation Of Financial Statements: Manufacturing Accounts: Prepare Manufacturing Accounts, Income Statements And Statements Of Financial Position
- 3.97Preparation Of Financial Statements: Manufacturing Accounts: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders).
- 3.98Preparation Of Financial Statements: Incomplete Records: Explain The Disadvantages Of Not Maintaining A Full Set Of Accounting Records
- 3.99Preparation Of Financial Statements: Incomplete Records: Prepare Opening And Closing Statements Of Affairs
- 3.100Preparation Of Financial Statements: Incomplete Records: Calculate Profit Or Loss For The Year From Changes In Capital Over Time
- 3.101Preparation Of Financial Statements: Incomplete Records: Calculate Sales, Purchases, Gross Profit, Trade Receivables And Trade Payables And Other Figures From Incomplete Information
- 3.102Preparation Of Financial Statements: Incomplete Records: Prepare Income Statements And Statements Of Financial Position From Incomplete Records
- 3.103Preparation Of Financial Statements: Incomplete Records: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 3.104Preparation Of Financial Statements: Incomplete Records: Apply The Techniques Of Mark-up, Margin And Inventory Turnover To Arrive At Missing Figures. Candidates Will Only Be Asked Questions On Incomplete Records In Relation To Sole Trader Businesses.
- 3.105Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Gross Margin
- 3.106Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Profit Margin
- 3.107Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Return On Capital Employed (Roce)
- 3.108Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Current Ratio
- 3.109Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Liquid (Acid Test) Ratio
- 3.110Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Rate Of Inventory Turnover (Times)
- 3.111Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Trade Receivables Turnover (Days)
- 3.112Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Trade Payables Turnover (Days)
- 3.113Analysis And Interpretation: Interpretation Of Accounting Ratios: Prepare And Comment On Simple Statements Showing Comparison Of Results For Different Years
- 3.114Analysis And Interpretation: Interpretation Of Accounting Ratios: Make Recommendations And Suggestions For Improving Profitability And Working Capital
- 3.115Analysis And Interpretation: Interpretation Of Accounting Ratios: Understand The Significance Of The Difference Between The Gross Margin And The Profit Margin As An Indicator Of A Business’s Efficiency
- 3.116Analysis And Interpretation: Interpretation Of Accounting Ratios: Explain The Relationship Of Gross Profit And Profit For The Year To The Valuation Of Inventory, Rate Of Inventory Turnover, Revenue, Expenses, And Equity.
- 3.117Analysis And Interpretation: Inter-firm Comparison: Understand The Problems Of Inter-firm Comparison
- 3.118Analysis And Interpretation: Inter-firm Comparison: Apply Accounting Ratios To Inter-firm Comparison.
- 3.119Analysis And Interpretation: Interested Parties: Owners
- 3.120Analysis And Interpretation: Interested Parties: Managers
- 3.121Analysis And Interpretation: Interested Parties: Trade Payables
- 3.122Analysis And Interpretation: Interested Parties: Banks
- 3.123Analysis And Interpretation: Interested Parties: Investors
- 3.124Analysis And Interpretation: Interested Parties: Club Members
- 3.125Analysis And Interpretation: Interested Parties: Other Interested Parties Such As Governments, Tax Authorities, Etc.
- 3.126Analysis And Interpretation: Limitations Of Accounting Statements: Historic Cost
- 3.127Analysis And Interpretation: Limitations Of Accounting Statements: Difficulties Of Definition
- 3.128Analysis And Interpretation: Limitations Of Accounting Statements: Non-financial Aspects
- 3.129Accounting Principles And Policies: Accounting Principles: Matching
- 3.130Accounting Principles And Policies: Accounting Principles: Business Entity
- 3.131Accounting Principles And Policies: Accounting Principles: Consistency
- 3.132Accounting Principles And Policies: Accounting Principles: Duality
- 3.133Accounting Principles And Policies: Accounting Principles: Going Concern
- 3.134Accounting Principles And Policies: Accounting Principles: Historic Cost
- 3.135Accounting Principles And Policies: Accounting Principles: Materiality
- 3.136Accounting Principles And Policies: Accounting Principles: Money Measurement
- 3.137Accounting Principles And Policies: Accounting Principles: Prudence
- 3.138Accounting Principles And Policies: Accounting Principles: Realisation
- 3.139Accounting Principles And Policies: Accounting Policies: Comparability
- 3.140Accounting Principles And Policies: Accounting Policies: Relevance
- 3.141Accounting Principles And Policies: Accounting Policies: Reliability
- 3.142Accounting Principles And Policies: Accounting Policies: Understandability
- Video Lectures For The ContentVideo Lectures Covering Course Content In Detail27
- 4.1The Purpose of Accounting
- 4.2The Accounting Equation
- 4.3The Double Entry System of Book-Keeping
- 4.4Business Documents
- 4.5Books of Prime Entry
- 4.6The Trial Balance
- 4.7Correction of Errors
- 4.8Bank Reconciliation Statement
- 4.9Control Accounts
- 4.10Capital And Revenue Expenditure And Receipts
- 4.11Accounting For Depreciation And Disposal of Non-Current Assets
- 4.12Other Payables And Other Receivables
- 4.13Irrecoverable Debts And Provision For Doubtful Debts
- 4.14Valuation of Inventory
- 4.15Sole Traders
- 4.16Partnerships
- 4.17Limited Companies
- 4.18Clubs And Societies
- 4.19Manufacturing Accounts
- 4.20Incomplete Records
- 4.21Calculation And Understanding of Accounting Ratios
- 4.22Interpretation of Accounting Ratios
- 4.23Inter-Firm Comparison
- 4.24Interested Parties
- 4.25Limitations of Accounting Statements
- 4.26Accounting Principles
- 4.27Accounting Policies
- QuizzesShort Quizzes To Auto-Test Your Knowledge of The Syllabus25
- 5.1The Purpose of Accounting10 Minutes0 Questions
- 5.2The Accounting Equation10 Minutes0 Questions
- 5.3The Double Entry System of Book-Keeping10 Minutes0 Questions
- 5.4Business Documents10 Minutes0 Questions
- 5.5Books of Prime Entry10 Minutes0 Questions
- 5.6Correction of Errors10 Minutes0 Questions
- 5.7Bank Reconciliation Statement10 Minutes0 Questions
- 5.8Control Accounts10 Minutes0 Questions
- 5.9Capital and Revenue Expenditure And Receipts10 Minutes0 Questions
- 5.10Accounting For Depreciation And Disposal of Non-Current Assets10 Minutes0 Questions
- 5.11Other Payables And Other Receivables10 Minutes0 Questions
- 5.12Irrecoverable Debts And Provision For Doubtful Debts10 Minutes0 Questions
- 5.13Valuation of Inventory10 Minutes0 Questions
- 5.14Sole Traders10 Minutes0 Questions
- 5.15Partnerships10 Minutes0 Questions
- 5.16Limited Companies10 Minutes0 Questions
- 5.17Clubs And Societies10 Minutes0 Questions
- 5.18Manufacturing Accounts10 Minutes0 Questions
- 5.19Incomplete Records10 Minutes0 Questions
- 5.20Calculation And Understanding of Accounting Ratios10 Minutes0 Questions
- 5.21Inter-Firm Comparison10 Minutes0 Questions
- 5.22Interested Parties10 Minutes0 Questions
- 5.23Limitations of Accounting Statements10 Minutes0 Questions
- 5.24Accounting Principles10 Minutes0 Questions
- 5.25Accounting Policies10 Minutes0 Questions
- Quizzes For PreparationQuizzes With Detailed Explained Answers And Common Mistakes Discussed In Detail142
- 6.1The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 6.2The Fundamentals Of Accounting: The Purpose Of Accounting: State The Purposes Of Measuring Business Profit And Loss
- 6.3The Fundamentals Of Accounting: The Purpose Of Accounting: Explain The Role Of Accounting In Providing Information For Monitoring Progress And Decision-making.
- 6.4The Fundamentals Of Accounting: The Accounting Equation: Explain The Meaning Of Assets, Liabilities And Owner’s Equity
- 6.5The Fundamentals Of Accounting: The Accounting Equation: Explain And Apply The Accounting Equation.
- 6.6Sources And Recording Of Data: The Double Entry System Of Book-keeping: Outline The Double Entry System Of Book-keeping
- 6.7Sources And Recording Of Data: The Double Entry System Of Book-keeping: Process Accounting Data Using The Double Entry System
- 6.8Sources And Recording Of Data: The Double Entry System Of Book-keeping: Prepare Ledger Accounts
- 6.9Sources And Recording Of Data: The Double Entry System Of Book-keeping: Post Transactions To The Ledger Accounts
- 6.10Sources And Recording Of Data: The Double Entry System Of Book-keeping: Balance Ledger Accounts As Required And Make Transfers To Financial Statements
- 6.11Sources And Recording Of Data: The Double Entry System Of Book-keeping: Interpret Ledger Accounts And Their Balances
- 6.12Sources And Recording Of Data: The Double Entry System Of Book-keeping: Recognise The Division Of The Ledger Into The Sales Ledger, The Purchases Ledger And The Nominal (General) Ledger.
- 6.13Sources And Recording Of Data: Business Documents: Recognise And Understand The Following Business Documents: Invoice, Debit Note, Credit Note, Statement Of Account, Cheque, Receipt
- 6.14Sources And Recording Of Data: Business Documents: Complete Pro-forma Business Documents
- 6.15Sources And Recording Of Data: Business Documents: Understand The Use Of Business Documents As Sources Of Information: Invoice, Credit Note, Cheque Counterfoil, Paying-in Slip, Receipt, Bank Statement.
- 6.16Sources And Recording Of Data: Books Of Prime Entry: Explain The Advantage Of Using Various Books Of Prime Entry
- 6.17Sources And Recording Of Data: Books Of Prime Entry: Explain The Use Of And Process Accounting Data In The Books Of Prime Entry: Cash Book, Petty Cash Book, Sales Journal, Purchases Journal, Sales Returns Journal, Purchases Returns Journal And The General Journal
- 6.18Sources And Recording Of Data: Books Of Prime Entry: Post The Ledger Entries From The Books Of Prime Entry
- 6.19Sources And Recording Of Data: Books Of Prime Entry: Distinguish Between And Account For Trade Discount And Cash Discounts
- 6.20Sources And Recording Of Data: Books Of Prime Entry: Explain The Dual Function Of The Cash Book As A Book Of Prime Entry And As A Ledger Account For Bank And Cash
- 6.21Sources And Recording Of Data: Books Of Prime Entry: Explain The Use Of And Record Payments And Receipts Made By Bank Transfers And Other Electronic Means
- 6.22Sources And Recording Of Data: Books Of Prime Entry: Explain And Apply The Imprest System Of Petty Cash.
- 6.23Verification Of Accounting Records: The Trial Balance: Understand That A Trial Balance Is A Statement Of Ledger Balances On A Particular Date
- 6.24Verification Of Accounting Records: The Trial Balance: Outline The Uses And Limitations Of A Trial Balance
- 6.25Verification Of Accounting Records: The Trial Balance: Prepare A Trial Balance From A Given List Of Balances And Amend A Trial Balance Which Contains Errors
- 6.26Verification Of Accounting Records: The Trial Balance: Identify And Explain Those Errors Which Do Not Affect The Trial Balance: Commission, Compensating, Complete Reversal, Omission, Original Entry, Principle.
- 6.27Verification Of Accounting Records: Correction Of Errors: Correct Errors By Means Of Journal Entries
- 6.28Verification Of Accounting Records: Correction Of Errors: Explain The Use Of A Suspense Account As A Temporary Measure To Balance The Trial Balance
- 6.29Verification Of Accounting Records: Correction Of Errors: Correct Errors By Means Of Suspense Accounts
- 6.30Verification Of Accounting Records: Correction Of Errors: Adjust A Profit Or Loss For An Accounting Period After The Correction Of Errors
- 6.31Verification Of Accounting Records: Correction Of Errors: Understand The Effect Of Correction Of Errors On A Statement Of Financial Position.
- 6.32Verification Of Accounting Records: Bank Reconciliation: Understand The Use And Purpose Of A Bank Statement
- 6.33Verification Of Accounting Records: Bank Reconciliation: Update The Cash Book For Bank Charges, Bank Interest Paid And Received, Correction Of Errors, Credit Transfers, Direct Debits, Dividends, And Standing Orders
- 6.34Verification Of Accounting Records: Bank Reconciliation: Understand The Purpose Of And Prepare A Bank Reconciliation Statement To Include Bank Errors, Uncredited Deposits And Unpresented Cheques.
- 6.35Verification Of Accounting Records: Control Accounts: Understand The Purposes Of Purchases Ledger And Sales Ledger Control Accounts
- 6.36Verification Of Accounting Records: Control Accounts: Identify The Books Of Prime Entry As Sources Of Information For The Control Account Entries
- 6.37Verification Of Accounting Records: Control Accounts: Prepare Purchases Ledger And Sales Ledger Control Accounts To Include Credit Purchases And Sales, Receipts And Payments, Cash Discounts, Returns, Irrecoverable Debts, Dishonoured Cheques, Interest On Overdue Accounts, Contra Entries, Refunds, Opening And Closing Balances (Debit And Credit Within Each Account).
- 6.38Accounting Procedures: Capital And Revenue Expenditure And Receipts: Distinguish Between And Account For Capital Expenditure And Revenue Expenditure
- 6.39Accounting Procedures: Capital And Revenue Expenditure And Receipts: Distinguish Between And Account For Capital Receipts And Revenue Receipts
- 6.40Accounting Procedures: Capital And Revenue Expenditure And Receipts: Calculate And Comment On The Effect On Profit Of Incorrect Treatment
- 6.41Accounting Procedures: Capital And Revenue Expenditure And Receipts: Calculate And Comment On The Effect On Asset Valuations Of Incorrect Treatment.
- 6.42Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Define Depreciation
- 6.43Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Explain The Reasons For Accounting For Depreciation
- 6.44Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Name And Describe The Straight-line, Reducing Balance And Revaluation Methods Of Depreciation
- 6.45Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Prepare Ledger Accounts And Journal Entries For The Provision Of Depreciation
- 6.46Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Prepare Ledger Accounts And Journal Entries To Record The Sale Of Non-current Assets, Including The Use Of Disposal Accounts.
- 6.47Accounting Procedures: Other Payables And Other Receivables: Recognise The Importance Of Matching Costs And Revenues
- 6.48Accounting Procedures: Other Payables And Other Receivables: Prepare Ledger Accounts And Journal Entries To Record Accrued And Prepaid Expenses
- 6.49Accounting Procedures: Other Payables And Other Receivables: Prepare Ledger Accounts And Journal Entries To Record Accrued And Prepaid Incomes.
- 6.50Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Understand The Meaning Of Irrecoverable Debts And Recovery Of Debts Written Off
- 6.51Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record Irrecoverable Debts
- 6.52Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record Recovery Of Debts Written Off
- 6.53Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Explain The Reasons For Maintaining A Provision For Doubtful Debts
- 6.54Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record The Creation Of, And Adjustments To, A Provision For Doubtful Debts.
- 6.55Accounting Procedures: Valuation Of Inventory: Understand The Basis Of The Valuation Of Inventory At The Lower Of Cost And Net Realisable Value
- 6.56Accounting Procedures: Valuation Of Inventory: Prepare Simple Inventory Valuation Statements
- 6.57Accounting Procedures: Valuation Of Inventory: Recognise The Importance Of Valuation Of Inventory And The Effect Of An Incorrect Valuation Of Inventory On Gross Profit, Profit For The Year, Equity And Asset Valuation.
- 6.58Preparation Of Financial Statements: Sole Traders: Explain The Advantages And Disadvantages Of Operating As A Sole Trader
- 6.59Preparation Of Financial Statements: Sole Traders: Explain The Importance Of Preparing Income Statements And Statements Of Financial Position
- 6.60Preparation Of Financial Statements: Sole Traders: Explain The Difference Between A Trading Business And A Service Business
- 6.61Preparation Of Financial Statements: Sole Traders: Prepare Income Statements For Trading Businesses And For Service Businesses
- 6.62Preparation Of Financial Statements: Sole Traders: Understand That Statements Of Financial Position Record Assets And Liabilities On A Specified Date
- 6.63Preparation Of Financial Statements: Sole Traders: Recognise And Define The Content Of A Statement Of Financial Position: Non-current Assets, Intangible Assets, Current Assets, Current Liabilities, Non-current Liabilities And Capital
- 6.64Preparation Of Financial Statements: Sole Traders: Understand The Inter-relationship Of Items In A Statement Of Financial Position
- 6.65Preparation Of Financial Statements: Sole Traders: Prepare Statements Of Financial Position For Trading Businesses And Service Businesses
- 6.66Preparation Of Financial Statements: Sole Traders: Make Adjustments For Provision For Depreciation Using The Straight Line, Reducing Balance And Revaluation Methods
- 6.67Preparation Of Financial Statements: Sole Traders: Make Adjustments For Accrued And Prepaid Expenses And Accrued And Prepaid Income
- 6.68Preparation Of Financial Statements: Sole Traders: Make Adjustments For Irrecoverable Debts And Provisions For Doubtful Debts
- 6.69Preparation Of Financial Statements: Sole Traders: Make Adjustments For Goods Taken By The Owner For Own Use.
- 6.70Preparation Of Financial Statements: Partnerships: Explain The Advantages And Disadvantages Of Forming A Partnership
- 6.71Preparation Of Financial Statements: Partnerships: Outline The Importance And Contents Of A Partnership Agreement
- 6.72Preparation Of Financial Statements: Partnerships: Explain The Purpose Of An Appropriation Account
- 6.73Preparation Of Financial Statements: Partnerships: Prepare Income Statements, Appropriation Accounts And Statements Of Financial Position
- 6.74Preparation Of Financial Statements: Partnerships: Record Interest On Partners’ Loans, Interest On Capital, Interest On Drawings, Partners’ Salaries And The Division Of The Balance Of Profit Or Loss
- 6.75Preparation Of Financial Statements: Partnerships: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 6.76Preparation Of Financial Statements: Partnerships: Explain The Uses Of And Differences Between Capital And Current Accounts
- 6.77Preparation Of Financial Statements: Partnerships: Draw Up Partners’ Capital And Current Accounts In Ledger Account Form And As Part Of A Statement Of Financial Position.
- 6.78Preparation Of Financial Statements: Limited Companies: Explain The Advantages And Disadvantages Of Operating As A Limited Company
- 6.79Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Limited Liability
- 6.80Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 6.81Preparation Of Financial Statements: Limited Companies: Understand The Capital Structure Of A Limited Company Comprising Preference Share Capital, Ordinary Share Capital, General Reserve And Retained Earnings
- 6.82Preparation Of Financial Statements: Limited Companies: Understand And Distinguish Between Issued, Called-up And Paid-up Share Capital
- 6.83Preparation Of Financial Statements: Limited Companies: Understand And Distinguish Between Share Capital (Preference Shares And Ordinary Shares) And Loan Capital (Debentures)
- 6.84Preparation Of Financial Statements: Limited Companies: Prepare Income Statements, Statements Of Changes In Equity And Statements Of Financial Position
- 6.85Preparation Of Financial Statements: Limited Companies: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders).
- 6.86Preparation Of Financial Statements: Clubs And Societies: Distinguish Between Receipts And Payments Accounts And Income And Expenditure Accounts
- 6.87Preparation Of Financial Statements: Clubs And Societies: Prepare Receipts And Payments Accounts
- 6.88Preparation Of Financial Statements: Clubs And Societies: Prepare Accounts For Revenue-generating Activities, E.g. Refreshments, Subscriptions
- 6.89Preparation Of Financial Statements: Clubs And Societies: Prepare Income And Expenditure Accounts And Statements Of Financial Position
- 6.90Preparation Of Financial Statements: Clubs And Societies: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 6.91Preparation Of Financial Statements: Clubs And Societies: Define And Calculate The Accumulated Fund
- 6.92Preparation Of Financial Statements: Manufacturing Accounts: Distinguish Between Direct And Indirect Costs
- 6.93Preparation Of Financial Statements: Manufacturing Accounts: Understand Direct Material, Direct Labour, Prime Cost And Factory Overheads
- 6.94Preparation Of Financial Statements: Manufacturing Accounts: Understand And Make Adjustments For Work In Progress
- 6.95Preparation Of Financial Statements: Manufacturing Accounts: Calculate Factory Cost Of Production
- 6.96Preparation Of Financial Statements: Manufacturing Accounts: Prepare Manufacturing Accounts, Income Statements And Statements Of Financial Position
- 6.97Preparation Of Financial Statements: Manufacturing Accounts: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders).
- 6.98Preparation Of Financial Statements: Incomplete Records: Explain The Disadvantages Of Not Maintaining A Full Set Of Accounting Records
- 6.99Preparation Of Financial Statements: Incomplete Records: Prepare Opening And Closing Statements Of Affairs
- 6.100Preparation Of Financial Statements: Incomplete Records: Calculate Profit Or Loss For The Year From Changes In Capital Over Time
- 6.101Preparation Of Financial Statements: Incomplete Records: Calculate Sales, Purchases, Gross Profit, Trade Receivables And Trade Payables And Other Figures From Incomplete Information
- 6.102Preparation Of Financial Statements: Incomplete Records: Prepare Income Statements And Statements Of Financial Position From Incomplete Records
- 6.103Preparation Of Financial Statements: Incomplete Records: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 6.104Preparation Of Financial Statements: Incomplete Records: Apply The Techniques Of Mark-up, Margin And Inventory Turnover To Arrive At Missing Figures. Candidates Will Only Be Asked Questions On Incomplete Records In Relation To Sole Trader Businesses.
- 6.105Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Gross Margin
- 6.106Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Profit Margin
- 6.107Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Return On Capital Employed (Roce)
- 6.108Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Current Ratio
- 6.109Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Liquid (Acid Test) Ratio
- 6.110Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Rate Of Inventory Turnover (Times)
- 6.111Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Trade Receivables Turnover (Days)
- 6.112Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Trade Payables Turnover (Days)
- 6.113Analysis And Interpretation: Interpretation Of Accounting Ratios: Prepare And Comment On Simple Statements Showing Comparison Of Results For Different Years
- 6.114Analysis And Interpretation: Interpretation Of Accounting Ratios: Make Recommendations And Suggestions For Improving Profitability And Working Capital
- 6.115Analysis And Interpretation: Interpretation Of Accounting Ratios: Understand The Significance Of The Difference Between The Gross Margin And The Profit Margin As An Indicator Of A Business’s Efficiency
- 6.116Analysis And Interpretation: Interpretation Of Accounting Ratios: Explain The Relationship Of Gross Profit And Profit For The Year To The Valuation Of Inventory, Rate Of Inventory Turnover, Revenue, Expenses, And Equity.
- 6.117Analysis And Interpretation: Inter-firm Comparison: Understand The Problems Of Inter-firm Comparison
- 6.118Analysis And Interpretation: Inter-firm Comparison: Apply Accounting Ratios To Inter-firm Comparison.
- 6.119Analysis And Interpretation: Interested Parties: Owners
- 6.120Analysis And Interpretation: Interested Parties: Managers
- 6.121Analysis And Interpretation: Interested Parties: Trade Payables
- 6.122Analysis And Interpretation: Interested Parties: Banks
- 6.123Analysis And Interpretation: Interested Parties: Investors
- 6.124Analysis And Interpretation: Interested Parties: Club Members
- 6.125Analysis And Interpretation: Interested Parties: Other Interested Parties Such As Governments, Tax Authorities, Etc.
- 6.126Analysis And Interpretation: Limitations Of Accounting Statements: Historic Cost
- 6.127Analysis And Interpretation: Limitations Of Accounting Statements: Difficulties Of Definition
- 6.128Analysis And Interpretation: Limitations Of Accounting Statements: Non-financial Aspects
- 6.129Accounting Principles And Policies: Accounting Principles: Matching
- 6.130Accounting Principles And Policies: Accounting Principles: Business Entity
- 6.131Accounting Principles And Policies: Accounting Principles: Consistency
- 6.132Accounting Principles And Policies: Accounting Principles: Duality
- 6.133Accounting Principles And Policies: Accounting Principles: Going Concern
- 6.134Accounting Principles And Policies: Accounting Principles: Historic Cost
- 6.135Accounting Principles And Policies: Accounting Principles: Materiality
- 6.136Accounting Principles And Policies: Accounting Principles: Money Measurement
- 6.137Accounting Principles And Policies: Accounting Principles: Prudence
- 6.138Accounting Principles And Policies: Accounting Principles: Realisation
- 6.139Accounting Principles And Policies: Accounting Policies: Comparability
- 6.140Accounting Principles And Policies: Accounting Policies: Relevance
- 6.141Accounting Principles And Policies: Accounting Policies: Reliability
- 6.142Accounting Principles And Policies: Accounting Policies: Understandability
- AssignmentsDetailed Assignments For Syllabus Preparation (Including Past Paper Questions)14
- 7.1The Purpose of Accounting3 Days
- 7.2The Accounting Equation3 Days
- 7.3The Double Entry System of Book-Keeping3 Days
- 7.4Business Documents3 Days
- 7.5Books of Prime Entry3 Days
- 7.6The Trial Balance3 Days
- 7.7Correction of Errors3 Days
- 7.8Bank Reconciliation Statement3 Days
- 7.9Control Accounts3 Days
- 7.10Capital And Revenue Expenditure And Receipts3 Days
- 7.11Accounting For Depreciation And Disposal of Non-Current Assets3 Days
- 7.12Other Payables And Other Receivables3 Days
- 7.13Irrecoverable Debts And Provision For Doubtful Debts3 Days
- 7.14Valuation of Inventory3 Days
- Paper Pattern/ Paper Preparation/ Techniques To Attempt The Paper/ Common Mistakes To AvoidDetailed Information Including Written + Video Material Regarding Paper Attempt / Preparation/ Techniques/ Common Mistakes To Avoid50
- 8.1Paper Pattern & Structure (Foundation Topics): Understanding The Overall Structure Of Paper 1 Vs Paper 2
- 8.2Paper Pattern & Structure (Foundation Topics): Mark Distribution Logic And Why Paper 2 Decides Grades
- 8.3Paper Pattern & Structure (Foundation Topics): Command Words And What Examiners Actually Want For Each
- 8.4Paper Pattern & Structure (Foundation Topics): Difference Between Knowledge Marks Vs Method Marks
- 8.5Paper Pattern & Structure (Foundation Topics): How Cambridge Uses Scaffolded Questions To Guide Answers
- 8.6Paper Pattern & Structure (Foundation Topics): Why Some Questions Are “Easy Marks” And Others Are Trap Questions
- 8.7Paper Pattern & Structure (Foundation Topics): Understanding Optionality And Compulsory Sections (And Myths Around Them)
- 8.8Time Management & Planning: Time Allocation Strategy Per Question, Not Per Paper
- 8.9Time Management & Planning: When To Attempt Long Calculation Questions Vs Short Theory
- 8.10Time Management & Planning: Planning Time Vs Writing Time – What Toppers Actually Do
- 8.11Time Management & Planning: How To Recover If You Are Running Out Of Time Mid-Paper
- 8.12Time Management & Planning: Why Skipping Questions Early Can Increase Total Marks
- 8.13Time Management & Planning: Last 10-Minute Strategy Before Submission
- 8.14Techniques To Attempt Calculation Questions: How Examiners Award Marks Even If The Final Answer Is Wrong
- 8.15Techniques To Attempt Calculation Questions: The Own-Figure Rule And How To Exploit It Safely
- 8.16Techniques To Attempt Calculation Questions: Layout Techniques That Maximize Method Marks
- 8.17Techniques To Attempt Calculation Questions: When Workings Are Compulsory Vs Optional
- 8.18Techniques To Attempt Calculation Questions: How To Avoid Losing Marks Due To Poor Presentation
- 8.19Techniques To Attempt Calculation Questions: Dealing With Multi-Step Calculations Without Panic
- 8.20Techniques To Attempt Calculation Questions: Common Calculation Errors That Cost Full Marks Unnecessarily
- 8.21Techniques To Attempt Theory & Explanation Questions: Writing Point-Based Answers Vs Paragraph Answers
- 8.22Techniques To Attempt Theory & Explanation Questions: How Many Points Are “Enough” For 2, 3, 4, And 5-Mark Questions
- 8.23Techniques To Attempt Theory & Explanation Questions: Difference Between Listing Points And Explaining Points
- 8.24Techniques To Attempt Theory & Explanation Questions: How To Structure Advantages / Disadvantages Questions Properly
- 8.25Techniques To Attempt Theory & Explanation Questions: The Role Of Recommendations And Why Students Miss Them
- 8.26Techniques To Attempt Theory & Explanation Questions: Using Context From The Question To Unlock Higher Marks
- 8.27Examiner Language & Marking Logic: How Marks Are Awarded Positively, Not Deducted
- 8.28Examiner Language & Marking Logic: Why Repetition Kills Marks Even If The Point Is Correct
- 8.29Examiner Language & Marking Logic: What Examiners Mean By “Accept Other Valid Points”
- 8.30Examiner Language & Marking Logic: Why Correct Terminology Matters More Than Long Explanations
- 8.31Examiner Language & Marking Logic: How Examiners Treat Spelling, Grammar, And Layout
- 8.32Examiner Language & Marking Logic: nderstanding “Max” Marks And How To Avoid Over-Writing
- 8.33Common Mistakes Across Both Papers: Debit / Credit Confusion Caused By Memorization Instead Of Logic
- 8.34Common Mistakes Across Both Papers: Mixing Up Cash Book, Bank Account, And Bank Statement
- 8.35Common Mistakes Across Both Papers: Misclassifying Items In Statements (Current Vs Non-Current)
- 8.36Common Mistakes Across Both Papers: Forgetting Dates, Balances C/D And B/D In Accounts
- 8.37Common Mistakes Across Both Papers: Losing Marks Due To Missing Labels, Headings, Or Totals
- 8.38Common Mistakes Across Both Papers: Writing Irrelevant Theory That Earns Zero Marks
- 8.39Paper 1 (MCQ) Specific Pitfalls: Why MCQs Test Application, Not Definitions
- 8.40Paper 1 (MCQ) Specific Pitfalls: Eliminating Options Using Accounting Logic
- 8.41Paper 1 (MCQ) Specific Pitfalls: Common Traps In Depreciation And Inventory MCQs
- 8.42Paper 1 (MCQ) Specific Pitfalls: Overthinking Simple MCQs And Changing Correct Answers
- 8.43Paper 1 (MCQ) Specific Pitfalls: Time Pressure Mistakes Unique To Paper 1
- 8.44Psychological & Exam-Day Strategy: Handling Panic During Long Calculation Questions
- 8.45Psychological & Exam-Day Strategy: How To Stay Logical When Figures Don’t “Look Right”
- 8.46Psychological & Exam-Day Strategy: Deciding When To Leave An Answer And Move On
- 8.47Psychological & Exam-Day Strategy: Managing Mental Fatigue In The Second Half Of The Paper
- 8.48Psychological & Exam-Day Strategy: Smart Guessing Strategies When Stuck (Especially MCQs)
- 8.49Psychological & Exam-Day Strategy: Maintaining Consistency And Clarity Under Pressure
- 8.50Final Examiner-Focused Master Topic: Turning Average Knowledge Into High-Band Answers Using Technique Alone
- Solved Past PapersDetailed Written Explanations And Solutions of Past Papers, Including Model Answers and Explanations For Past Paper Questions49
- 9.1May June 2020 Paper 11
- 9.2May June 2020 Paper 12
- 9.3May June 2020 Paper 21
- 9.4May June 2020 Paper 22
- 9.5October November 2020 Paper 12
- 9.6October November 2020 Paper 13
- 9.7October November 2020 Paper 22
- 9.8October November 2020 Paper 23
- 9.9May June 2021 Paper 11
- 9.10May June 2021 Paper 12
- 9.11May June 2021 Paper 21
- 9.12May June 2021 Paper 22
- 9.13May June 2021 Paper 24
- 9.14October November 2021 Paper 12
- 9.15October November 2021 Paper 13
- 9.16October November 2021 Paper 22
- 9.17October November 2021 Paper 23
- 9.18May June 2022 Paper 11
- 9.19May June 2022 Paper 12
- 9.20May June 2022 Paper 21
- 9.21May June 2022 Paper 22
- 9.22October November 2022 Paper 12
- 9.23October November 2022 Paper 13
- 9.24October November 2022 Paper 22
- 9.25October November 2022 Paper 23
- 9.26May June 2023 Paper 11
- 9.27May June 2023 Paper 12
- 9.28May June 2023 Paper 21
- 9.29May June 2023 Paper 22
- 9.30October November 2023 Paper 12
- 9.31October November 2023 Paper 13
- 9.32October November 2023 Paper 22
- 9.33October November 2023 Paper 23
- 9.34May June 2024 Paper 11
- 9.35May June 2024 Paper 12
- 9.36May June 2024 Paper 21
- 9.37May June 2024 Paper 22
- 9.38October November 2024 Paper 12
- 9.39October November 2024 Paper 13
- 9.40October November 2024 Paper 22
- 9.41October November 2024 Paper 23
- 9.42May June 2025 Paper 11
- 9.43May June 2025 Paper 12
- 9.44May June 2025 Paper 21
- 9.45May June 2025 Paper 22
- 9.46October November 2025 Paper 12
- 9.47October November 2025 Paper 13
- 9.48October November 2025 Paper 22
- 9.49October November 2025 Paper 23
- Past Paper SessionsVideo Content Regarding Past Paper Solutions0
- Notes (Rearranged Version)Notes Arranged In A Different Style For Preparation Ease25
- 11.1The Purpose of Accounting
- 11.2The Accounting Equation
- 11.3The Double Entry System
- 11.4Business Documents
- 11.5The Trial Balance
- 11.6Correction of Errors
- 11.7Bank Reconciliation Statement
- 11.8Control Accounts
- 11.9Capital and Revenue Expenditure and Receipts
- 11.10Accounting for Depreciation and Disposal of Non-Current Assets
- 11.11Other Payables and Other Receivables
- 11.12Irrecoverable Debts and Provision for Doubtful Debts
- 11.13Valuation of Inventory
- 11.14Accounting Principles
- 11.15Sole Traders
- 11.16Partnerships
- 11.17Manufacturing Accounts
- 11.18Incomplete Records
- 11.19Calculation, Understanding and Interpretation of Accounting Ratios
- 11.20Inter-firm Comparison
- 11.21Limitations of Accounting Statements
- 11.22Accounting Policies
- 11.23Clubs and Societies
- 11.24Limited Companies
- 11.25Books of Prime Entry
- Video LecturesVideos Recorded In A Different Style For Preparation Ease5
- 12.1The Purpose of Accounting + The Accounting Equation + The Double Entry System + Business Documents + Trial Balance + Capital and Revenue Expenditure/ Receipts2 Hours
- 12.2Accounting for Depreciation and Disposal of Non-Current Assets + Other Payables and Other Receivables + Irrecoverable Debts and Provision for Doubtful Debts + Sole Traders98 Minutes
- 12.3Accounting Ratios
- 12.4Inventory Valuation + Accounting Principles + Accounting Policies + Partnerships + Manufacturing Account
- 12.5Paper 1 Solved Detailed Examples
- FormatsAll Major Formats For Statements And Accounts142
- 13.1The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 13.2The Fundamentals Of Accounting: The Purpose Of Accounting: State The Purposes Of Measuring Business Profit And Loss
- 13.3The Fundamentals Of Accounting: The Purpose Of Accounting: Explain The Role Of Accounting In Providing Information For Monitoring Progress And Decision-making.
- 13.4The Fundamentals Of Accounting: The Accounting Equation: Explain The Meaning Of Assets, Liabilities And Owner’s Equity
- 13.5The Fundamentals Of Accounting: The Accounting Equation: Explain And Apply The Accounting Equation.
- 13.6Sources And Recording Of Data: The Double Entry System Of Book-keeping: Outline The Double Entry System Of Book-keeping
- 13.7Sources And Recording Of Data: The Double Entry System Of Book-keeping: Process Accounting Data Using The Double Entry System
- 13.8Sources And Recording Of Data: The Double Entry System Of Book-keeping: Prepare Ledger Accounts
- 13.9Sources And Recording Of Data: The Double Entry System Of Book-keeping: Post Transactions To The Ledger Accounts
- 13.10Sources And Recording Of Data: The Double Entry System Of Book-keeping: Balance Ledger Accounts As Required And Make Transfers To Financial Statements
- 13.11Sources And Recording Of Data: The Double Entry System Of Book-keeping: Interpret Ledger Accounts And Their Balances
- 13.12Sources And Recording Of Data: The Double Entry System Of Book-keeping: Recognise The Division Of The Ledger Into The Sales Ledger, The Purchases Ledger And The Nominal (General) Ledger.
- 13.13Sources And Recording Of Data: Business Documents: Recognise And Understand The Following Business Documents: Invoice, Debit Note, Credit Note, Statement Of Account, Cheque, Receipt
- 13.14Sources And Recording Of Data: Business Documents: Complete Pro-forma Business Documents
- 13.15Sources And Recording Of Data: Business Documents: Understand The Use Of Business Documents As Sources Of Information: Invoice, Credit Note, Cheque Counterfoil, Paying-in Slip, Receipt, Bank Statement.
- 13.16Sources And Recording Of Data: Books Of Prime Entry: Explain The Advantage Of Using Various Books Of Prime Entry
- 13.17Sources And Recording Of Data: Books Of Prime Entry: Explain The Use Of And Process Accounting Data In The Books Of Prime Entry: Cash Book, Petty Cash Book, Sales Journal, Purchases Journal, Sales Returns Journal, Purchases Returns Journal And The General Journal
- 13.18Sources And Recording Of Data: Books Of Prime Entry: Post The Ledger Entries From The Books Of Prime Entry
- 13.19Sources And Recording Of Data: Books Of Prime Entry: Distinguish Between And Account For Trade Discount And Cash Discounts
- 13.20Sources And Recording Of Data: Books Of Prime Entry: Explain The Dual Function Of The Cash Book As A Book Of Prime Entry And As A Ledger Account For Bank And Cash
- 13.21Sources And Recording Of Data: Books Of Prime Entry: Explain The Use Of And Record Payments And Receipts Made By Bank Transfers And Other Electronic Means
- 13.22Sources And Recording Of Data: Books Of Prime Entry: Explain And Apply The Imprest System Of Petty Cash.
- 13.23Verification Of Accounting Records: The Trial Balance: Understand That A Trial Balance Is A Statement Of Ledger Balances On A Particular Date
- 13.24Verification Of Accounting Records: The Trial Balance: Outline The Uses And Limitations Of A Trial Balance
- 13.25Verification Of Accounting Records: The Trial Balance: Prepare A Trial Balance From A Given List Of Balances And Amend A Trial Balance Which Contains Errors
- 13.26Verification Of Accounting Records: The Trial Balance: Identify And Explain Those Errors Which Do Not Affect The Trial Balance: Commission, Compensating, Complete Reversal, Omission, Original Entry, Principle.
- 13.27Verification Of Accounting Records: Correction Of Errors: Correct Errors By Means Of Journal Entries
- 13.28Verification Of Accounting Records: Correction Of Errors: Explain The Use Of A Suspense Account As A Temporary Measure To Balance The Trial Balance
- 13.29Verification Of Accounting Records: Correction Of Errors: Correct Errors By Means Of Suspense Accounts
- 13.30Verification Of Accounting Records: Correction Of Errors: Adjust A Profit Or Loss For An Accounting Period After The Correction Of Errors
- 13.31Verification Of Accounting Records: Correction Of Errors: Understand The Effect Of Correction Of Errors On A Statement Of Financial Position.
- 13.32Verification Of Accounting Records: Bank Reconciliation: Understand The Use And Purpose Of A Bank Statement
- 13.33Verification Of Accounting Records: Bank Reconciliation: Update The Cash Book For Bank Charges, Bank Interest Paid And Received, Correction Of Errors, Credit Transfers, Direct Debits, Dividends, And Standing Orders
- 13.34Verification Of Accounting Records: Bank Reconciliation: Understand The Purpose Of And Prepare A Bank Reconciliation Statement To Include Bank Errors, Uncredited Deposits And Unpresented Cheques.
- 13.35Verification Of Accounting Records: Control Accounts: Understand The Purposes Of Purchases Ledger And Sales Ledger Control Accounts
- 13.36Verification Of Accounting Records: Control Accounts: Identify The Books Of Prime Entry As Sources Of Information For The Control Account Entries
- 13.37Verification Of Accounting Records: Control Accounts: Prepare Purchases Ledger And Sales Ledger Control Accounts To Include Credit Purchases And Sales, Receipts And Payments, Cash Discounts, Returns, Irrecoverable Debts, Dishonoured Cheques, Interest On Overdue Accounts, Contra Entries, Refunds, Opening And Closing Balances (Debit And Credit Within Each Account).
- 13.38Accounting Procedures: Capital And Revenue Expenditure And Receipts: Distinguish Between And Account For Capital Expenditure And Revenue Expenditure
- 13.39Accounting Procedures: Capital And Revenue Expenditure And Receipts: Distinguish Between And Account For Capital Receipts And Revenue Receipts
- 13.40Accounting Procedures: Capital And Revenue Expenditure And Receipts: Calculate And Comment On The Effect On Profit Of Incorrect Treatment
- 13.41Accounting Procedures: Capital And Revenue Expenditure And Receipts: Calculate And Comment On The Effect On Asset Valuations Of Incorrect Treatment.
- 13.42Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Define Depreciation
- 13.43Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Explain The Reasons For Accounting For Depreciation
- 13.44Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Name And Describe The Straight-line, Reducing Balance And Revaluation Methods Of Depreciation
- 13.45Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Prepare Ledger Accounts And Journal Entries For The Provision Of Depreciation
- 13.46Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Prepare Ledger Accounts And Journal Entries To Record The Sale Of Non-current Assets, Including The Use Of Disposal Accounts.
- 13.47Accounting Procedures: Other Payables And Other Receivables: Recognise The Importance Of Matching Costs And Revenues
- 13.48Accounting Procedures: Other Payables And Other Receivables: Prepare Ledger Accounts And Journal Entries To Record Accrued And Prepaid Expenses
- 13.49Accounting Procedures: Other Payables And Other Receivables: Prepare Ledger Accounts And Journal Entries To Record Accrued And Prepaid Incomes.
- 13.50Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Understand The Meaning Of Irrecoverable Debts And Recovery Of Debts Written Off
- 13.51Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record Irrecoverable Debts
- 13.52Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record Recovery Of Debts Written Off
- 13.53Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Explain The Reasons For Maintaining A Provision For Doubtful Debts
- 13.54Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record The Creation Of, And Adjustments To, A Provision For Doubtful Debts.
- 13.55Accounting Procedures: Valuation Of Inventory: Understand The Basis Of The Valuation Of Inventory At The Lower Of Cost And Net Realisable Value
- 13.56Accounting Procedures: Valuation Of Inventory: Prepare Simple Inventory Valuation Statements
- 13.57Accounting Procedures: Valuation Of Inventory: Recognise The Importance Of Valuation Of Inventory And The Effect Of An Incorrect Valuation Of Inventory On Gross Profit, Profit For The Year, Equity And Asset Valuation.
- 13.58Preparation Of Financial Statements: Sole Traders: Explain The Advantages And Disadvantages Of Operating As A Sole Trader
- 13.59Preparation Of Financial Statements: Sole Traders: Explain The Importance Of Preparing Income Statements And Statements Of Financial Position
- 13.60Preparation Of Financial Statements: Sole Traders: Explain The Difference Between A Trading Business And A Service Business
- 13.61Preparation Of Financial Statements: Sole Traders: Prepare Income Statements For Trading Businesses And For Service Businesses
- 13.62Preparation Of Financial Statements: Sole Traders: Understand That Statements Of Financial Position Record Assets And Liabilities On A Specified Date
- 13.63Preparation Of Financial Statements: Sole Traders: Recognise And Define The Content Of A Statement Of Financial Position: Non-current Assets, Intangible Assets, Current Assets, Current Liabilities, Non-current Liabilities And Capital
- 13.64Preparation Of Financial Statements: Sole Traders: Understand The Inter-relationship Of Items In A Statement Of Financial Position
- 13.65Preparation Of Financial Statements: Sole Traders: Prepare Statements Of Financial Position For Trading Businesses And Service Businesses
- 13.66Preparation Of Financial Statements: Sole Traders: Make Adjustments For Provision For Depreciation Using The Straight Line, Reducing Balance And Revaluation Methods
- 13.67Preparation Of Financial Statements: Sole Traders: Make Adjustments For Accrued And Prepaid Expenses And Accrued And Prepaid Income
- 13.68Preparation Of Financial Statements: Sole Traders: Make Adjustments For Irrecoverable Debts And Provisions For Doubtful Debts
- 13.69Preparation Of Financial Statements: Sole Traders: Make Adjustments For Goods Taken By The Owner For Own Use.
- 13.70Preparation Of Financial Statements: Partnerships: Explain The Advantages And Disadvantages Of Forming A Partnership
- 13.71Preparation Of Financial Statements: Partnerships: Outline The Importance And Contents Of A Partnership Agreement
- 13.72Preparation Of Financial Statements: Partnerships: Explain The Purpose Of An Appropriation Account
- 13.73Preparation Of Financial Statements: Partnerships: Prepare Income Statements, Appropriation Accounts And Statements Of Financial Position
- 13.74Preparation Of Financial Statements: Partnerships: Record Interest On Partners’ Loans, Interest On Capital, Interest On Drawings, Partners’ Salaries And The Division Of The Balance Of Profit Or Loss
- 13.75Preparation Of Financial Statements: Partnerships: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 13.76Preparation Of Financial Statements: Partnerships: Explain The Uses Of And Differences Between Capital And Current Accounts
- 13.77Preparation Of Financial Statements: Partnerships: Draw Up Partners’ Capital And Current Accounts In Ledger Account Form And As Part Of A Statement Of Financial Position.
- 13.78Preparation Of Financial Statements: Limited Companies: Explain The Advantages And Disadvantages Of Operating As A Limited Company
- 13.79Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Limited Liability
- 13.80Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 13.81Preparation Of Financial Statements: Limited Companies: Understand The Capital Structure Of A Limited Company Comprising Preference Share Capital, Ordinary Share Capital, General Reserve And Retained Earnings
- 13.82Preparation Of Financial Statements: Limited Companies: Understand And Distinguish Between Issued, Called-up And Paid-up Share Capital
- 13.83Preparation Of Financial Statements: Limited Companies: Understand And Distinguish Between Share Capital (Preference Shares And Ordinary Shares) And Loan Capital (Debentures)
- 13.84Preparation Of Financial Statements: Limited Companies: Prepare Income Statements, Statements Of Changes In Equity And Statements Of Financial Position
- 13.85Preparation Of Financial Statements: Limited Companies: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders).
- 13.86Preparation Of Financial Statements: Clubs And Societies: Distinguish Between Receipts And Payments Accounts And Income And Expenditure Accounts
- 13.87Preparation Of Financial Statements: Clubs And Societies: Prepare Receipts And Payments Accounts
- 13.88Preparation Of Financial Statements: Clubs And Societies: Prepare Accounts For Revenue-generating Activities, E.g. Refreshments, Subscriptions
- 13.89Preparation Of Financial Statements: Clubs And Societies: Prepare Income And Expenditure Accounts And Statements Of Financial Position
- 13.90Preparation Of Financial Statements: Clubs And Societies: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 13.91Preparation Of Financial Statements: Clubs And Societies: Define And Calculate The Accumulated Fund
- 13.92Preparation Of Financial Statements: Manufacturing Accounts: Distinguish Between Direct And Indirect Costs
- 13.93Preparation Of Financial Statements: Manufacturing Accounts: Understand Direct Material, Direct Labour, Prime Cost And Factory Overheads
- 13.94Preparation Of Financial Statements: Manufacturing Accounts: Understand And Make Adjustments For Work In Progress
- 13.95Preparation Of Financial Statements: Manufacturing Accounts: Calculate Factory Cost Of Production
- 13.96Preparation Of Financial Statements: Manufacturing Accounts: Prepare Manufacturing Accounts, Income Statements And Statements Of Financial Position
- 13.97Preparation Of Financial Statements: Manufacturing Accounts: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders).
- 13.98Preparation Of Financial Statements: Incomplete Records: Explain The Disadvantages Of Not Maintaining A Full Set Of Accounting Records
- 13.99Preparation Of Financial Statements: Incomplete Records: Prepare Opening And Closing Statements Of Affairs
- 13.100Preparation Of Financial Statements: Incomplete Records: Calculate Profit Or Loss For The Year From Changes In Capital Over Time
- 13.101Preparation Of Financial Statements: Incomplete Records: Calculate Sales, Purchases, Gross Profit, Trade Receivables And Trade Payables And Other Figures From Incomplete Information
- 13.102Preparation Of Financial Statements: Incomplete Records: Prepare Income Statements And Statements Of Financial Position From Incomplete Records
- 13.103Preparation Of Financial Statements: Incomplete Records: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 13.104Preparation Of Financial Statements: Incomplete Records: Apply The Techniques Of Mark-up, Margin And Inventory Turnover To Arrive At Missing Figures. Candidates Will Only Be Asked Questions On Incomplete Records In Relation To Sole Trader Businesses.
- 13.105Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Gross Margin
- 13.106Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Profit Margin
- 13.107Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Return On Capital Employed (Roce)
- 13.108Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Current Ratio
- 13.109Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Liquid (Acid Test) Ratio
- 13.110Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Rate Of Inventory Turnover (Times)
- 13.111Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Trade Receivables Turnover (Days)
- 13.112Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Trade Payables Turnover (Days)
- 13.113Analysis And Interpretation: Interpretation Of Accounting Ratios: Prepare And Comment On Simple Statements Showing Comparison Of Results For Different Years
- 13.114Analysis And Interpretation: Interpretation Of Accounting Ratios: Make Recommendations And Suggestions For Improving Profitability And Working Capital
- 13.115Analysis And Interpretation: Interpretation Of Accounting Ratios: Understand The Significance Of The Difference Between The Gross Margin And The Profit Margin As An Indicator Of A Business’s Efficiency
- 13.116Analysis And Interpretation: Interpretation Of Accounting Ratios: Explain The Relationship Of Gross Profit And Profit For The Year To The Valuation Of Inventory, Rate Of Inventory Turnover, Revenue, Expenses, And Equity.
- 13.117Analysis And Interpretation: Inter-firm Comparison: Understand The Problems Of Inter-firm Comparison
- 13.118Analysis And Interpretation: Inter-firm Comparison: Apply Accounting Ratios To Inter-firm Comparison.
- 13.119Analysis And Interpretation: Interested Parties: Owners
- 13.120Analysis And Interpretation: Interested Parties: Managers
- 13.121Analysis And Interpretation: Interested Parties: Trade Payables
- 13.122Analysis And Interpretation: Interested Parties: Banks
- 13.123Analysis And Interpretation: Interested Parties: Investors
- 13.124Analysis And Interpretation: Interested Parties: Club Members
- 13.125Analysis And Interpretation: Interested Parties: Other Interested Parties Such As Governments, Tax Authorities, Etc.
- 13.126Analysis And Interpretation: Limitations Of Accounting Statements: Historic Cost
- 13.127Analysis And Interpretation: Limitations Of Accounting Statements: Difficulties Of Definition
- 13.128Analysis And Interpretation: Limitations Of Accounting Statements: Non-financial Aspects
- 13.129Accounting Principles And Policies: Accounting Principles: Matching
- 13.130Accounting Principles And Policies: Accounting Principles: Business Entity
- 13.131Accounting Principles And Policies: Accounting Principles: Consistency
- 13.132Accounting Principles And Policies: Accounting Principles: Duality
- 13.133Accounting Principles And Policies: Accounting Principles: Going Concern
- 13.134Accounting Principles And Policies: Accounting Principles: Historic Cost
- 13.135Accounting Principles And Policies: Accounting Principles: Materiality
- 13.136Accounting Principles And Policies: Accounting Principles: Money Measurement
- 13.137Accounting Principles And Policies: Accounting Principles: Prudence
- 13.138Accounting Principles And Policies: Accounting Principles: Realisation
- 13.139Accounting Principles And Policies: Accounting Policies: Comparability
- 13.140Accounting Principles And Policies: Accounting Policies: Relevance
- 13.141Accounting Principles And Policies: Accounting Policies: Reliability
- 13.142Accounting Principles And Policies: Accounting Policies: Understandability
- Practice Questions/ Practice ExamsPractice Questions/ Exams Based Both On Actual Exam Pattern And On Topical Content To Boost Preparation And Improve Performance145
- 14.1The Purpose of Accounting
- 14.2The Accounting Equation
- 14.3The Double Entry System of Book-Keeping
- 14.4Business Documents
- 14.5Practice Questions: The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 14.6Practice Questions: The Fundamentals Of Accounting: The Purpose Of Accounting: State The Purposes Of Measuring Business Profit And Loss
- 14.7Practice Questions: The Fundamentals Of Accounting: The Purpose Of Accounting: Explain The Role Of Accounting In Providing Information For Monitoring Progress And Decision-making.
- 14.8Practice Questions: The Fundamentals Of Accounting: The Accounting Equation: Explain The Meaning Of Assets, Liabilities And Owner’s Equity
- 14.9Practice Questions: The Fundamentals Of Accounting: The Accounting Equation: Explain And Apply The Accounting Equation.
- 14.10Practice Questions: Sources And Recording Of Data: The Double Entry System Of Book-keeping: Outline The Double Entry System Of Book-keeping
- 14.11Practice Questions: Sources And Recording Of Data: The Double Entry System Of Book-keeping: Process Accounting Data Using The Double Entry System
- 14.12Practice Questions: Sources And Recording Of Data: The Double Entry System Of Book-keeping: Prepare Ledger Accounts
- 14.13Practice Questions: Sources And Recording Of Data: The Double Entry System Of Book-keeping: Post Transactions To The Ledger Accounts
- 14.14Practice Questions: Sources And Recording Of Data: The Double Entry System Of Book-keeping: Balance Ledger Accounts As Required And Make Transfers To Financial Statements
- 14.15Practice Questions: Sources And Recording Of Data: The Double Entry System Of Book-keeping: Interpret Ledger Accounts And Their Balances
- 14.16Practice Questions: Sources And Recording Of Data: The Double Entry System Of Book-keeping: Recognise The Division Of The Ledger Into The Sales Ledger, The Purchases Ledger And The Nominal (General) Ledger.
- 14.17Practice Questions: Sources And Recording Of Data: Business Documents: Recognise And Understand The Following Business Documents: Invoice, Debit Note, Credit Note, Statement Of Account, Cheque, Receipt
- 14.18Practice Questions: Sources And Recording Of Data: Business Documents: Complete Pro-forma Business Documents
- 14.19Practice Questions: Sources And Recording Of Data: Business Documents: Understand The Use Of Business Documents As Sources Of Information: Invoice, Credit Note, Cheque Counterfoil, Paying-in Slip, Receipt, Bank Statement.
- 14.20Practice Questions: Sources And Recording Of Data: Books Of Prime Entry: Explain The Advantage Of Using Various Books Of Prime Entry
- 14.21Practice Questions: Sources And Recording Of Data: Books Of Prime Entry: Explain The Use Of And Process Accounting Data In The Books Of Prime Entry: Cash Book, Petty Cash Book, Sales Journal, Purchases Journal, Sales Returns Journal, Purchases Returns Journal And The General Journal
- 14.22Practice Questions: Sources And Recording Of Data: Books Of Prime Entry: Post The Ledger Entries From The Books Of Prime Entry
- 14.23Practice Questions: Sources And Recording Of Data: Books Of Prime Entry: Distinguish Between And Account For Trade Discount And Cash Discounts
- 14.24Practice Questions: Sources And Recording Of Data: Books Of Prime Entry: Explain The Dual Function Of The Cash Book As A Book Of Prime Entry And As A Ledger Account For Bank And Cash
- 14.25Practice Questions: Sources And Recording Of Data: Books Of Prime Entry: Explain The Use Of And Record Payments And Receipts Made By Bank Transfers And Other Electronic Means
- 14.26Practice Questions: Sources And Recording Of Data: Books Of Prime Entry: Explain And Apply The Imprest System Of Petty Cash.
- 14.27Practice Questions: Verification Of Accounting Records: The Trial Balance: Understand That A Trial Balance Is A Statement Of Ledger Balances On A Particular Date
- 14.28Practice Questions: Verification Of Accounting Records: The Trial Balance: Outline The Uses And Limitations Of A Trial Balance
- 14.29Practice Questions: Verification Of Accounting Records: The Trial Balance: Prepare A Trial Balance From A Given List Of Balances And Amend A Trial Balance Which Contains Errors
- 14.30Practice Questions: Verification Of Accounting Records: The Trial Balance: Identify And Explain Those Errors Which Do Not Affect The Trial Balance: Commission, Compensating, Complete Reversal, Omission, Original Entry, Principle.
- 14.31Practice Questions: Verification Of Accounting Records: Correction Of Errors: Correct Errors By Means Of Journal Entries
- 14.32Practice Questions: Verification Of Accounting Records: Correction Of Errors: Explain The Use Of A Suspense Account As A Temporary Measure To Balance The Trial Balance
- 14.33Practice Questions: Verification Of Accounting Records: Correction Of Errors: Correct Errors By Means Of Suspense Accounts
- 14.34Practice Questions: Verification Of Accounting Records: Correction Of Errors: Adjust A Profit Or Loss For An Accounting Period After The Correction Of Errors
- 14.35Practice Questions: Verification Of Accounting Records: Correction Of Errors: Understand The Effect Of Correction Of Errors On A Statement Of Financial Position.
- 14.36Practice Questions: Verification Of Accounting Records: Bank Reconciliation: Understand The Use And Purpose Of A Bank Statement
- 14.37Practice Questions: Verification Of Accounting Records: Bank Reconciliation: Update The Cash Book For Bank Charges, Bank Interest Paid And Received, Correction Of Errors, Credit Transfers, Direct Debits, Dividends, And Standing Orders
- 14.38Practice Questions: Verification Of Accounting Records: Bank Reconciliation: Understand The Purpose Of And Prepare A Bank Reconciliation Statement To Include Bank Errors, Uncredited Deposits And Unpresented Cheques.
- 14.39Practice Questions: Verification Of Accounting Records: Control Accounts: Understand The Purposes Of Purchases Ledger And Sales Ledger Control Accounts
- 14.40Practice Questions: Verification Of Accounting Records: Control Accounts: Identify The Books Of Prime Entry As Sources Of Information For The Control Account Entries
- 14.41Practice Questions: Verification Of Accounting Records: Control Accounts: Prepare Purchases Ledger And Sales Ledger Control Accounts To Include Credit Purchases And Sales, Receipts And Payments, Cash Discounts, Returns, Irrecoverable Debts, Dishonoured Cheques, Interest On Overdue Accounts, Contra Entries, Refunds, Opening And Closing Balances (Debit And Credit Within Each Account).
- 14.42Practice Questions: Accounting Procedures: Capital And Revenue Expenditure And Receipts: Distinguish Between And Account For Capital Expenditure And Revenue Expenditure
- 14.43Practice Questions: Accounting Procedures: Capital And Revenue Expenditure And Receipts: Distinguish Between And Account For Capital Receipts And Revenue Receipts
- 14.44Practice Questions: Accounting Procedures: Capital And Revenue Expenditure And Receipts: Calculate And Comment On The Effect On Profit Of Incorrect Treatment
- 14.45Practice Questions: Accounting Procedures: Capital And Revenue Expenditure And Receipts: Calculate And Comment On The Effect On Asset Valuations Of Incorrect Treatment.
- 14.46Practice Questions: Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Define Depreciation
- 14.47Practice Questions: Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Explain The Reasons For Accounting For Depreciation
- 14.48Practice Questions: Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Name And Describe The Straight-line, Reducing Balance And Revaluation Methods Of Depreciation
- 14.49Practice Questions: Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Prepare Ledger Accounts And Journal Entries For The Provision Of Depreciation
- 14.50Practice Questions: Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Prepare Ledger Accounts And Journal Entries To Record The Sale Of Non-current Assets, Including The Use Of Disposal Accounts.
- 14.51Practice Questions: Accounting Procedures: Other Payables And Other Receivables: Recognise The Importance Of Matching Costs And Revenues
- 14.52Practice Questions: Accounting Procedures: Other Payables And Other Receivables: Prepare Ledger Accounts And Journal Entries To Record Accrued And Prepaid Expenses
- 14.53Practice Questions: Accounting Procedures: Other Payables And Other Receivables: Prepare Ledger Accounts And Journal Entries To Record Accrued And Prepaid Incomes.
- 14.54Practice Questions: Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Understand The Meaning Of Irrecoverable Debts And Recovery Of Debts Written Off
- 14.55Practice Questions: Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record Irrecoverable Debts
- 14.56Practice Questions: Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record Recovery Of Debts Written Off
- 14.57Practice Questions: Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Explain The Reasons For Maintaining A Provision For Doubtful Debts
- 14.58Practice Questions: Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record The Creation Of, And Adjustments To, A Provision For Doubtful Debts.
- 14.59Practice Questions: Accounting Procedures: Valuation Of Inventory: Understand The Basis Of The Valuation Of Inventory At The Lower Of Cost And Net Realisable Value
- 14.60Practice Questions: Accounting Procedures: Valuation Of Inventory: Prepare Simple Inventory Valuation Statements
- 14.61Practice Questions: Accounting Procedures: Valuation Of Inventory: Recognise The Importance Of Valuation Of Inventory And The Effect Of An Incorrect Valuation Of Inventory On Gross Profit, Profit For The Year, Equity And Asset Valuation.
- 14.62Practice Questions: Preparation Of Financial Statements: Sole Traders: Explain The Advantages And Disadvantages Of Operating As A Sole Trader
- 14.63Practice Questions: Preparation Of Financial Statements: Sole Traders: Explain The Importance Of Preparing Income Statements And Statements Of Financial Position
- 14.64Practice Questions: Preparation Of Financial Statements: Sole Traders: Explain The Difference Between A Trading Business And A Service Business
- 14.65Practice Questions: Preparation Of Financial Statements: Sole Traders: Prepare Income Statements For Trading Businesses And For Service Businesses
- 14.66Practice Questions: Preparation Of Financial Statements: Sole Traders: Understand That Statements Of Financial Position Record Assets And Liabilities On A Specified Date
- 14.67Practice Questions: Preparation Of Financial Statements: Sole Traders: Recognise And Define The Content Of A Statement Of Financial Position: Non-current Assets, Intangible Assets, Current Assets, Current Liabilities, Non-current Liabilities And Capital
- 14.68Practice Questions: Preparation Of Financial Statements: Sole Traders: Understand The Inter-relationship Of Items In A Statement Of Financial Position
- 14.69Practice Questions: Preparation Of Financial Statements: Sole Traders: Prepare Statements Of Financial Position For Trading Businesses And Service Businesses
- 14.70Practice Questions: Preparation Of Financial Statements: Sole Traders: Make Adjustments For Provision For Depreciation Using The Straight Line, Reducing Balance And Revaluation Methods
- 14.71Practice Questions: Preparation Of Financial Statements: Sole Traders: Make Adjustments For Accrued And Prepaid Expenses And Accrued And Prepaid Income
- 14.72Practice Questions: Preparation Of Financial Statements: Sole Traders: Make Adjustments For Irrecoverable Debts And Provisions For Doubtful Debts
- 14.73Practice Questions: Preparation Of Financial Statements: Sole Traders: Make Adjustments For Goods Taken By The Owner For Own Use.
- 14.74Practice Questions: Preparation Of Financial Statements: Partnerships: Explain The Advantages And Disadvantages Of Forming A Partnership
- 14.75Practice Questions: Preparation Of Financial Statements: Partnerships: Outline The Importance And Contents Of A Partnership Agreement
- 14.76Practice Questions: Preparation Of Financial Statements: Partnerships: Explain The Purpose Of An Appropriation Account
- 14.77Practice Questions: Preparation Of Financial Statements: Partnerships: Prepare Income Statements, Appropriation Accounts And Statements Of Financial Position
- 14.78Practice Questions: Preparation Of Financial Statements: Partnerships: Record Interest On Partners’ Loans, Interest On Capital, Interest On Drawings, Partners’ Salaries And The Division Of The Balance Of Profit Or Loss
- 14.79Practice Questions: Preparation Of Financial Statements: Partnerships: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 14.80Practice Questions: Preparation Of Financial Statements: Partnerships: Explain The Uses Of And Differences Between Capital And Current Accounts
- 14.81Practice Questions: Preparation Of Financial Statements: Partnerships: Draw Up Partners’ Capital And Current Accounts In Ledger Account Form And As Part Of A Statement Of Financial Position.
- 14.82Practice Questions: Preparation Of Financial Statements: Limited Companies: Explain The Advantages And Disadvantages Of Operating As A Limited Company
- 14.83Practice Questions: Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Limited Liability
- 14.84Practice Questions: Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 14.85Practice Questions: Preparation Of Financial Statements: Limited Companies: Understand The Capital Structure Of A Limited Company Comprising Preference Share Capital, Ordinary Share Capital, General Reserve And Retained Earnings
- 14.86Practice Questions: Preparation Of Financial Statements: Limited Companies: Understand And Distinguish Between Issued, Called-up And Paid-up Share Capital
- 14.87Practice Questions: Preparation Of Financial Statements: Limited Companies: Understand And Distinguish Between Share Capital (Preference Shares And Ordinary Shares) And Loan Capital (Debentures)
- 14.88Practice Questions: Preparation Of Financial Statements: Limited Companies: Prepare Income Statements, Statements Of Changes In Equity And Statements Of Financial Position
- 14.89Practice Questions: Preparation Of Financial Statements: Limited Companies: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders).
- 14.90Practice Questions: Preparation Of Financial Statements: Clubs And Societies: Prepare Receipts And Payments Accounts
- 14.91Practice Questions: Preparation Of Financial Statements: Clubs And Societies: Prepare Accounts For Revenue-generating Activities, E.g. Refreshments, Subscriptions
- 14.92Practice Questions: Preparation Of Financial Statements: Clubs And Societies: Prepare Income And Expenditure Accounts And Statements Of Financial Position
- 14.93Practice Questions: Preparation Of Financial Statements: Clubs And Societies: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 14.94Practice Questions: Preparation Of Financial Statements: Clubs And Societies: Define And Calculate The Accumulated Fund
- 14.95Practice Questions: Preparation Of Financial Statements: Manufacturing Accounts: Distinguish Between Direct And Indirect Costs
- 14.96Practice Questions: Preparation Of Financial Statements: Manufacturing Accounts: Understand Direct Material, Direct Labour, Prime Cost And Factory Overheads
- 14.97Practice Questions: Preparation Of Financial Statements: Manufacturing Accounts: Understand And Make Adjustments For Work In Progress
- 14.98Practice Questions: Preparation Of Financial Statements: Manufacturing Accounts: Calculate Factory Cost Of Production
- 14.99Practice Questions: Preparation Of Financial Statements: Manufacturing Accounts: Prepare Manufacturing Accounts, Income Statements And Statements Of Financial Position
- 14.100Practice Questions: Preparation Of Financial Statements: Manufacturing Accounts: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders).
- 14.101Practice Questions: Preparation Of Financial Statements: Incomplete Records: Explain The Disadvantages Of Not Maintaining A Full Set Of Accounting Records
- 14.102Practice Questions: Preparation Of Financial Statements: Incomplete Records: Prepare Opening And Closing Statements Of Affairs
- 14.103Practice Questions: Preparation Of Financial Statements: Incomplete Records: Calculate Profit Or Loss For The Year From Changes In Capital Over Time
- 14.104Practice Questions: Preparation Of Financial Statements: Incomplete Records: Calculate Sales, Purchases, Gross Profit, Trade Receivables And Trade Payables And Other Figures From Incomplete Information
- 14.105Practice Questions: Preparation Of Financial Statements: Incomplete Records: Prepare Income Statements And Statements Of Financial Position From Incomplete Records
- 14.106Practice Questions: Preparation Of Financial Statements: Incomplete Records: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 14.107Practice Questions: Preparation Of Financial Statements: Incomplete Records: Apply The Techniques Of Mark-up, Margin And Inventory Turnover To Arrive At Missing Figures. Candidates Will Only Be Asked Questions On Incomplete Records In Relation To Sole Trader Businesses.
- 14.108Practice Questions: Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Gross Margin
- 14.109Practice Questions: Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Profit Margin
- 14.110Practice Questions: Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Return On Capital Employed (Roce)
- 14.111Practice Questions: Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Current Ratio
- 14.112Practice Questions: Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Liquid (Acid Test) Ratio
- 14.113Practice Questions: Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Rate Of Inventory Turnover (Times)
- 14.114Practice Questions: Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Trade Receivables Turnover (Days)
- 14.115Practice Questions: Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Trade Payables Turnover (Days)
- 14.116Practice Questions: Analysis And Interpretation: Interpretation Of Accounting Ratios: Prepare And Comment On Simple Statements Showing Comparison Of Results For Different Years
- 14.117Practice Questions: Analysis And Interpretation: Interpretation Of Accounting Ratios: Make Recommendations And Suggestions For Improving Profitability And Working Capital
- 14.118Practice Questions: Analysis And Interpretation: Interpretation Of Accounting Ratios: Understand The Significance Of The Difference Between The Gross Margin And The Profit Margin As An Indicator Of A Business’s Efficiency
- 14.119Practice Questions: Analysis And Interpretation: Interpretation Of Accounting Ratios: Explain The Relationship Of Gross Profit And Profit For The Year To The Valuation Of Inventory, Rate Of Inventory Turnover, Revenue, Expenses, And Equity.
- 14.120Practice Questions: Analysis And Interpretation: Inter-firm Comparison: Understand The Problems Of Inter-firm Comparison
- 14.121Practice Questions: Analysis And Interpretation: Inter-firm Comparison: Apply Accounting Ratios To Inter-firm Comparison.
- 14.122Practice Questions: Analysis And Interpretation: Interested Parties: Owners
- 14.123Practice Questions: Analysis And Interpretation: Interested Parties: Managers
- 14.124Practice Questions: Analysis And Interpretation: Interested Parties: Trade Payables
- 14.125Practice Questions: Analysis And Interpretation: Interested Parties: Banks
- 14.126Practice Questions: Analysis And Interpretation: Interested Parties: Investors
- 14.127Practice Questions: Analysis And Interpretation: Interested Parties: Club Members
- 14.128Practice Questions: Analysis And Interpretation: Interested Parties: Other Interested Parties Such As Governments, Tax Authorities, Etc.
- 14.129Practice Questions: Analysis And Interpretation: Limitations Of Accounting Statements: Historic Cost
- 14.130Practice Questions: Analysis And Interpretation: Limitations Of Accounting Statements: Difficulties Of Definition
- 14.131Practice Questions: Analysis And Interpretation: Limitations Of Accounting Statements: Non-financial Aspects
- 14.132Practice Questions: Accounting Principles And Policies: Accounting Principles: Matching
- 14.133Practice Questions: Accounting Principles And Policies: Accounting Principles: Business Entity
- 14.134Practice Questions: Accounting Principles And Policies: Accounting Principles: Consistency
- 14.135Practice Questions: Accounting Principles And Policies: Accounting Principles: Duality
- 14.136Practice Questions: Accounting Principles And Policies: Accounting Principles: Going Concern
- 14.137Practice Questions: Accounting Principles And Policies: Accounting Principles: Historic Cost
- 14.138Practice Questions: Accounting Principles And Policies: Accounting Principles: Materiality
- 14.139Practice Questions: Accounting Principles And Policies: Accounting Principles: Money Measurement
- 14.140Practice Questions: Accounting Principles And Policies: Accounting Principles: Prudence
- 14.141Practice Questions: Accounting Principles And Policies: Accounting Principles: Realisation
- 14.142Practice Questions: Accounting Principles And Policies: Accounting Policies: Comparability
- 14.143Practice Questions: Accounting Principles And Policies: Accounting Policies: Relevance
- 14.144Practice Questions: Accounting Principles And Policies: Accounting Policies: Reliability
- 14.145Practice Questions: Accounting Principles And Policies: Accounting Policies: Understandability
- Mock Tests/ Mock ExamsMock Exams For Final Preparation0
- Cheat SheetsShort, Quick Revision Cheat Sheets142
- 16.1The Fundamentals Of Accounting: The Purpose Of Accounting: Understand And Explain The Difference Between Book-keeping And Accounting
- 16.2The Fundamentals Of Accounting: The Purpose Of Accounting: State The Purposes Of Measuring Business Profit And Loss
- 16.3The Fundamentals Of Accounting: The Purpose Of Accounting: Explain The Role Of Accounting In Providing Information For Monitoring Progress And Decision-making.
- 16.4The Fundamentals Of Accounting: The Accounting Equation: Explain The Meaning Of Assets, Liabilities And Owner’s Equity
- 16.5The Fundamentals Of Accounting: The Accounting Equation: Explain And Apply The Accounting Equation.
- 16.6Sources And Recording Of Data: The Double Entry System Of Book-keeping: Outline The Double Entry System Of Book-keeping
- 16.7Sources And Recording Of Data: The Double Entry System Of Book-keeping: Process Accounting Data Using The Double Entry System
- 16.8Sources And Recording Of Data: The Double Entry System Of Book-keeping: Prepare Ledger Accounts
- 16.9Sources And Recording Of Data: The Double Entry System Of Book-keeping: Post Transactions To The Ledger Accounts
- 16.10Sources And Recording Of Data: The Double Entry System Of Book-keeping: Balance Ledger Accounts As Required And Make Transfers To Financial Statements
- 16.11Sources And Recording Of Data: The Double Entry System Of Book-keeping: Interpret Ledger Accounts And Their Balances
- 16.12Sources And Recording Of Data: The Double Entry System Of Book-keeping: Recognise The Division Of The Ledger Into The Sales Ledger, The Purchases Ledger And The Nominal (General) Ledger.
- 16.13Sources And Recording Of Data: Business Documents: Recognise And Understand The Following Business Documents: Invoice, Debit Note, Credit Note, Statement Of Account, Cheque, Receipt
- 16.14Sources And Recording Of Data: Business Documents: Complete Pro-forma Business Documents
- 16.15Sources And Recording Of Data: Business Documents: Understand The Use Of Business Documents As Sources Of Information: Invoice, Credit Note, Cheque Counterfoil, Paying-in Slip, Receipt, Bank Statement.
- 16.16Sources And Recording Of Data: Books Of Prime Entry: Explain The Advantage Of Using Various Books Of Prime Entry
- 16.17Sources And Recording Of Data: Books Of Prime Entry: Explain The Use Of And Process Accounting Data In The Books Of Prime Entry: Cash Book, Petty Cash Book, Sales Journal, Purchases Journal, Sales Returns Journal, Purchases Returns Journal And The General Journal
- 16.18Sources And Recording Of Data: Books Of Prime Entry: Post The Ledger Entries From The Books Of Prime Entry
- 16.19Sources And Recording Of Data: Books Of Prime Entry: Distinguish Between And Account For Trade Discount And Cash Discounts
- 16.20Sources And Recording Of Data: Books Of Prime Entry: Explain The Dual Function Of The Cash Book As A Book Of Prime Entry And As A Ledger Account For Bank And Cash
- 16.21Sources And Recording Of Data: Books Of Prime Entry: Explain The Use Of And Record Payments And Receipts Made By Bank Transfers And Other Electronic Means
- 16.22Sources And Recording Of Data: Books Of Prime Entry: Explain And Apply The Imprest System Of Petty Cash.
- 16.23Verification Of Accounting Records: The Trial Balance: Understand That A Trial Balance Is A Statement Of Ledger Balances On A Particular Date
- 16.24Verification Of Accounting Records: The Trial Balance: Outline The Uses And Limitations Of A Trial Balance
- 16.25Verification Of Accounting Records: The Trial Balance: Prepare A Trial Balance From A Given List Of Balances And Amend A Trial Balance Which Contains Errors
- 16.26Verification Of Accounting Records: The Trial Balance: Identify And Explain Those Errors Which Do Not Affect The Trial Balance: Commission, Compensating, Complete Reversal, Omission, Original Entry, Principle.
- 16.27Verification Of Accounting Records: Correction Of Errors: Correct Errors By Means Of Journal Entries
- 16.28Verification Of Accounting Records: Correction Of Errors: Explain The Use Of A Suspense Account As A Temporary Measure To Balance The Trial Balance
- 16.29Verification Of Accounting Records: Correction Of Errors: Correct Errors By Means Of Suspense Accounts
- 16.30Verification Of Accounting Records: Correction Of Errors: Adjust A Profit Or Loss For An Accounting Period After The Correction Of Errors
- 16.31Verification Of Accounting Records: Correction Of Errors: Understand The Effect Of Correction Of Errors On A Statement Of Financial Position.
- 16.32Verification Of Accounting Records: Bank Reconciliation: Understand The Use And Purpose Of A Bank Statement
- 16.33Verification Of Accounting Records: Bank Reconciliation: Update The Cash Book For Bank Charges, Bank Interest Paid And Received, Correction Of Errors, Credit Transfers, Direct Debits, Dividends, And Standing Orders
- 16.34Verification Of Accounting Records: Bank Reconciliation: Understand The Purpose Of And Prepare A Bank Reconciliation Statement To Include Bank Errors, Uncredited Deposits And Unpresented Cheques.
- 16.35Verification Of Accounting Records: Control Accounts: Understand The Purposes Of Purchases Ledger And Sales Ledger Control Accounts
- 16.36Verification Of Accounting Records: Control Accounts: Identify The Books Of Prime Entry As Sources Of Information For The Control Account Entries
- 16.37Verification Of Accounting Records: Control Accounts: Prepare Purchases Ledger And Sales Ledger Control Accounts To Include Credit Purchases And Sales, Receipts And Payments, Cash Discounts, Returns, Irrecoverable Debts, Dishonoured Cheques, Interest On Overdue Accounts, Contra Entries, Refunds, Opening And Closing Balances (Debit And Credit Within Each Account).
- 16.38Accounting Procedures: Capital And Revenue Expenditure And Receipts: Distinguish Between And Account For Capital Expenditure And Revenue Expenditure
- 16.39Accounting Procedures: Capital And Revenue Expenditure And Receipts: Distinguish Between And Account For Capital Receipts And Revenue Receipts
- 16.40Accounting Procedures: Capital And Revenue Expenditure And Receipts: Calculate And Comment On The Effect On Profit Of Incorrect Treatment
- 16.41Accounting Procedures: Capital And Revenue Expenditure And Receipts: Calculate And Comment On The Effect On Asset Valuations Of Incorrect Treatment.
- 16.42Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Define Depreciation
- 16.43Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Explain The Reasons For Accounting For Depreciation
- 16.44Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Name And Describe The Straight-line, Reducing Balance And Revaluation Methods Of Depreciation
- 16.45Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Prepare Ledger Accounts And Journal Entries For The Provision Of Depreciation
- 16.46Accounting Procedures: Accounting For Depreciation And Disposal Of Non-current Assets: Prepare Ledger Accounts And Journal Entries To Record The Sale Of Non-current Assets, Including The Use Of Disposal Accounts.
- 16.47Accounting Procedures: Other Payables And Other Receivables: Recognise The Importance Of Matching Costs And Revenues
- 16.48Accounting Procedures: Other Payables And Other Receivables: Prepare Ledger Accounts And Journal Entries To Record Accrued And Prepaid Expenses
- 16.49Accounting Procedures: Other Payables And Other Receivables: Prepare Ledger Accounts And Journal Entries To Record Accrued And Prepaid Incomes.
- 16.50Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Understand The Meaning Of Irrecoverable Debts And Recovery Of Debts Written Off
- 16.51Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record Irrecoverable Debts
- 16.52Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record Recovery Of Debts Written Off
- 16.53Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Explain The Reasons For Maintaining A Provision For Doubtful Debts
- 16.54Accounting Procedures: Irrecoverable Debts And Provision For Doubtful Debts: Prepare Ledger Accounts And Journal Entries To Record The Creation Of, And Adjustments To, A Provision For Doubtful Debts.
- 16.55Accounting Procedures: Valuation Of Inventory: Understand The Basis Of The Valuation Of Inventory At The Lower Of Cost And Net Realisable Value
- 16.56Accounting Procedures: Valuation Of Inventory: Prepare Simple Inventory Valuation Statements
- 16.57Accounting Procedures: Valuation Of Inventory: Recognise The Importance Of Valuation Of Inventory And The Effect Of An Incorrect Valuation Of Inventory On Gross Profit, Profit For The Year, Equity And Asset Valuation.
- 16.58Preparation Of Financial Statements: Sole Traders: Explain The Advantages And Disadvantages Of Operating As A Sole Trader
- 16.59Preparation Of Financial Statements: Sole Traders: Explain The Importance Of Preparing Income Statements And Statements Of Financial Position
- 16.60Preparation Of Financial Statements: Sole Traders: Explain The Difference Between A Trading Business And A Service Business
- 16.61Preparation Of Financial Statements: Sole Traders: Prepare Income Statements For Trading Businesses And For Service Businesses
- 16.62Preparation Of Financial Statements: Sole Traders: Understand That Statements Of Financial Position Record Assets And Liabilities On A Specified Date
- 16.63Preparation Of Financial Statements: Sole Traders: Recognise And Define The Content Of A Statement Of Financial Position: Non-current Assets, Intangible Assets, Current Assets, Current Liabilities, Non-current Liabilities And Capital
- 16.64Preparation Of Financial Statements: Sole Traders: Understand The Inter-relationship Of Items In A Statement Of Financial Position
- 16.65Preparation Of Financial Statements: Sole Traders: Prepare Statements Of Financial Position For Trading Businesses And Service Businesses
- 16.66Preparation Of Financial Statements: Sole Traders: Make Adjustments For Provision For Depreciation Using The Straight Line, Reducing Balance And Revaluation Methods
- 16.67Preparation Of Financial Statements: Sole Traders: Make Adjustments For Accrued And Prepaid Expenses And Accrued And Prepaid Income
- 16.68Preparation Of Financial Statements: Sole Traders: Make Adjustments For Irrecoverable Debts And Provisions For Doubtful Debts
- 16.69Preparation Of Financial Statements: Sole Traders: Make Adjustments For Goods Taken By The Owner For Own Use.
- 16.70Preparation Of Financial Statements: Partnerships: Explain The Advantages And Disadvantages Of Forming A Partnership
- 16.71Preparation Of Financial Statements: Partnerships: Outline The Importance And Contents Of A Partnership Agreement
- 16.72Preparation Of Financial Statements: Partnerships: Explain The Purpose Of An Appropriation Account
- 16.73Preparation Of Financial Statements: Partnerships: Prepare Income Statements, Appropriation Accounts And Statements Of Financial Position
- 16.74Preparation Of Financial Statements: Partnerships: Record Interest On Partners’ Loans, Interest On Capital, Interest On Drawings, Partners’ Salaries And The Division Of The Balance Of Profit Or Loss
- 16.75Preparation Of Financial Statements: Partnerships: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 16.76Preparation Of Financial Statements: Partnerships: Explain The Uses Of And Differences Between Capital And Current Accounts
- 16.77Preparation Of Financial Statements: Partnerships: Draw Up Partners’ Capital And Current Accounts In Ledger Account Form And As Part Of A Statement Of Financial Position.
- 16.78Preparation Of Financial Statements: Limited Companies: Explain The Advantages And Disadvantages Of Operating As A Limited Company
- 16.79Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Limited Liability
- 16.80Preparation Of Financial Statements: Limited Companies: Understand The Meaning Of The Term Equity
- 16.81Preparation Of Financial Statements: Limited Companies: Understand The Capital Structure Of A Limited Company Comprising Preference Share Capital, Ordinary Share Capital, General Reserve And Retained Earnings
- 16.82Preparation Of Financial Statements: Limited Companies: Understand And Distinguish Between Issued, Called-up And Paid-up Share Capital
- 16.83Preparation Of Financial Statements: Limited Companies: Understand And Distinguish Between Share Capital (Preference Shares And Ordinary Shares) And Loan Capital (Debentures)
- 16.84Preparation Of Financial Statements: Limited Companies: Prepare Income Statements, Statements Of Changes In Equity And Statements Of Financial Position
- 16.85Preparation Of Financial Statements: Limited Companies: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders).
- 16.86Preparation Of Financial Statements: Clubs And Societies: Distinguish Between Receipts And Payments Accounts And Income And Expenditure Accounts
- 16.87Preparation Of Financial Statements: Clubs And Societies: Prepare Receipts And Payments Accounts
- 16.88Preparation Of Financial Statements: Clubs And Societies: Prepare Accounts For Revenue-generating Activities, E.g. Refreshments, Subscriptions
- 16.89Preparation Of Financial Statements: Clubs And Societies: Prepare Income And Expenditure Accounts And Statements Of Financial Position
- 16.90Preparation Of Financial Statements: Clubs And Societies: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 16.91Preparation Of Financial Statements: Clubs And Societies: Define And Calculate The Accumulated Fund
- 16.92Preparation Of Financial Statements: Manufacturing Accounts: Distinguish Between Direct And Indirect Costs
- 16.93Preparation Of Financial Statements: Manufacturing Accounts: Understand Direct Material, Direct Labour, Prime Cost And Factory Overheads
- 16.94Preparation Of Financial Statements: Manufacturing Accounts: Understand And Make Adjustments For Work In Progress
- 16.95Preparation Of Financial Statements: Manufacturing Accounts: Calculate Factory Cost Of Production
- 16.96Preparation Of Financial Statements: Manufacturing Accounts: Prepare Manufacturing Accounts, Income Statements And Statements Of Financial Position
- 16.97Preparation Of Financial Statements: Manufacturing Accounts: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders).
- 16.98Preparation Of Financial Statements: Incomplete Records: Explain The Disadvantages Of Not Maintaining A Full Set Of Accounting Records
- 16.99Preparation Of Financial Statements: Incomplete Records: Prepare Opening And Closing Statements Of Affairs
- 16.100Preparation Of Financial Statements: Incomplete Records: Calculate Profit Or Loss For The Year From Changes In Capital Over Time
- 16.101Preparation Of Financial Statements: Incomplete Records: Calculate Sales, Purchases, Gross Profit, Trade Receivables And Trade Payables And Other Figures From Incomplete Information
- 16.102Preparation Of Financial Statements: Incomplete Records: Prepare Income Statements And Statements Of Financial Position From Incomplete Records
- 16.103Preparation Of Financial Statements: Incomplete Records: Make Adjustments To Financial Statements As Detailed In 5.1 (Sole Traders)
- 16.104Preparation Of Financial Statements: Incomplete Records: Apply The Techniques Of Mark-up, Margin And Inventory Turnover To Arrive At Missing Figures. Candidates Will Only Be Asked Questions On Incomplete Records In Relation To Sole Trader Businesses.
- 16.105Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Gross Margin
- 16.106Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Profit Margin
- 16.107Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Return On Capital Employed (Roce)
- 16.108Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Current Ratio
- 16.109Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Liquid (Acid Test) Ratio
- 16.110Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Rate Of Inventory Turnover (Times)
- 16.111Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Trade Receivables Turnover (Days)
- 16.112Analysis And Interpretation: Calculation And Understanding Of Accounting Ratios: Trade Payables Turnover (Days)
- 16.113Analysis And Interpretation: Interpretation Of Accounting Ratios: Prepare And Comment On Simple Statements Showing Comparison Of Results For Different Years
- 16.114Analysis And Interpretation: Interpretation Of Accounting Ratios: Make Recommendations And Suggestions For Improving Profitability And Working Capital
- 16.115Analysis And Interpretation: Interpretation Of Accounting Ratios: Understand The Significance Of The Difference Between The Gross Margin And The Profit Margin As An Indicator Of A Business’s Efficiency
- 16.116Analysis And Interpretation: Interpretation Of Accounting Ratios: Explain The Relationship Of Gross Profit And Profit For The Year To The Valuation Of Inventory, Rate Of Inventory Turnover, Revenue, Expenses, And Equity.
- 16.117Analysis And Interpretation: Inter-firm Comparison: Understand The Problems Of Inter-firm Comparison
- 16.118Analysis And Interpretation: Inter-firm Comparison: Apply Accounting Ratios To Inter-firm Comparison.
- 16.119Analysis And Interpretation: Interested Parties: Owners
- 16.120Analysis And Interpretation: Interested Parties: Managers
- 16.121Analysis And Interpretation: Interested Parties: Trade Payables
- 16.122Analysis And Interpretation: Interested Parties: Banks
- 16.123Analysis And Interpretation: Interested Parties: Investors
- 16.124Analysis And Interpretation: Interested Parties: Club Members
- 16.125Analysis And Interpretation: Interested Parties: Other Interested Parties Such As Governments, Tax Authorities, Etc.
- 16.126Analysis And Interpretation: Limitations Of Accounting Statements: Historic Cost
- 16.127Analysis And Interpretation: Limitations Of Accounting Statements: Difficulties Of Definition
- 16.128Analysis And Interpretation: Limitations Of Accounting Statements: Non-financial Aspects
- 16.129Accounting Principles And Policies: Accounting Principles: Matching
- 16.130Accounting Principles And Policies: Accounting Principles: Business EntityAccounting Principles And Policies: Accounting Principles: Business Entity
- 16.131Accounting Principles And Policies: Accounting Principles: Consistency
- 16.132Accounting Principles And Policies: Accounting Principles: Duality
- 16.133Accounting Principles And Policies: Accounting Principles: Going Concern
- 16.134Accounting Principles And Policies: Accounting Principles: Historic Cost
- 16.135Accounting Principles And Policies: Accounting Principles: Materiality
- 16.136Accounting Principles And Policies: Accounting Principles: Money Measurement
- 16.137Accounting Principles And Policies: Accounting Principles: Prudence
- 16.138Accounting Principles And Policies: Accounting Principles: Realisation
- 16.139Accounting Principles And Policies: Accounting Policies: Comparability
- 16.140Accounting Principles And Policies: Accounting Policies: Relevance
- 16.141Accounting Principles And Policies: Accounting Policies: Reliability
- 16.142Accounting Principles And Policies: Accounting Policies: Understandability
- Class RecordingsClass Recordings From Previous Sessions/ Current Session For Content0
- Other MaterialOther Useful Material For Exams0
- Notes (Rearranged Version 2)Notes Arranged In A Different Style For Preparation Ease Version 227
- 19.1The Purpose of Accounting
- 19.2The Accounting Equation
- 19.3The Double Entry System of Book-Keeping
- 19.4Business Documents
- 19.5Books of Prime Entry
- 19.6The Trial Balance
- 19.7Correction of Errors
- 19.8Bank Reconciliation Statement
- 19.9Control Accounts
- 19.10Capital And Revenue Expenditure And Receipts
- 19.11Accounting For Depreciation And Disposal of Non-Current Assets
- 19.12Other Payables And Other Receivables
- 19.13Irrecoverable Debts And Provision For Doubtful Debts
- 19.14Valuation of Inventory
- 19.15Sole Traders
- 19.16Partnerships
- 19.17Limited Companies
- 19.18Clubs And Societies
- 19.19Manufacturing Accounts
- 19.20Incomplete Records
- 19.21Calculation And Understanding of Accounting Ratios
- 19.22Interpretation of Accounting Ratios
- 19.23Inter-Firm Comparison
- 19.24Interested Parties
- 19.25Limitations of Accounting Statements
- 19.26Accounting Principles
- 19.27Accounting Policies
- Quizzes For Preparation Version 2Quizzes With Detailed Explained Answers And Common Mistakes Discussed In Detail Version 227
- 20.1The Purpose of Accounting
- 20.2The Accounting Equation
- 20.3The Double Entry System of Book-Keeping
- 20.4Business Documents
- 20.5Books of Prime Entry
- 20.6The Trial Balance
- 20.7Correction of Errors
- 20.8Bank Reconciliation Statement
- 20.9Control Accounts
- 20.10Capital And Revenue Expenditure And Receipts
- 20.11Accounting For Depreciation And Disposal of Non-Current Assets
- 20.12Other Payables And Other Receivables
- 20.13Irrecoverable Debts And Provision For Doubtful Debts
- 20.14Valuation of Inventory
- 20.15Sole Traders
- 20.16Partnerships
- 20.17Limited Companies
- 20.18Clubs And Societies
- 20.19Manufacturing Accounts
- 20.20Incomplete Records
- 20.21Calculation And Understanding of Accounting Ratios
- 20.22Interpretation of Accounting Ratios
- 20.23Inter-Firm Comparison
- 20.24Interested Parties
- 20.25Limitations of Accounting Statements
- 20.26Accounting Principles
- 20.27Accounting Policies
- Cheat Sheets Version 2Short, Quick Revision Cheat Sheets Version 227
- 21.1The Purpose of Accounting
- 21.2The Accounting Equation
- 21.3The Double Entry System of Book-Keeping
- 21.4Business Documents
- 21.5Books of Prime Entry
- 21.6The Trial Balance
- 21.7Correction of Errors
- 21.8Bank Reconciliation Statement
- 21.9Control Accounts
- 21.10Capital And Revenue Expenditure And Receipts
- 21.11Accounting For Depreciation And Disposal of Non-Current Assets
- 21.12Other Payables And Other Receivables
- 21.13Irrecoverable Debts And Provision For Doubtful Debts
- 21.14Valuation of Inventory
- 21.15Sole Traders
- 21.16Partnerships
- 21.17Limited Companies
- 21.18Clubs And Societies
- 21.19Manufacturing Accounts
- 21.20Incomplete Records
- 21.21Calculation And Understanding of Accounting Ratios
- 21.22Interpretation of Accounting Ratios
- 21.23Inter-Firm Comparison
- 21.24Interested Parties
- 21.25Limitations of Accounting Statements
- 21.26Accounting Principles
- 21.27Accounting Policies
Practice Questions: Verification Of Accounting Records: Bank Reconciliation: Understand The Purpose Of And Prepare A Bank Reconciliation Statement To Include Bank Errors, Uncredited Deposits And Unpresented Cheques.
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Practice Questions: Verification Of Accounting Records: Control Accounts: Identify The Books Of Prime Entry As Sources Of Information For The Control Account Entries
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