Aim:
To understand the concept of Books of Original
entry. Be able to record transactions in these ledgers
and also analyse these transactions. |
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Sales Day Book
Purchases Day Book
Cash Book ( Receipts & Payments)
Petty Cash Book
Journal |
Aim:
To understand the concept & identify the need &
benefit of control accounts. Be able to post totals from
the Day Books to the control accounts. |
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Debtors Control Account
Creditors Control Account
Cash Control Account
Impersonal Accounts & Personal Accounts |
Aim:
To understand the concepts and principles of
double entry. |
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Identify Debit & Credit transactions
Identify Income & Expenses
Identify Assets & Liabilities
Identify Revenue versus Capital expenditure |
Aim:
To understand the concept of the Journal & post
journal entries. |
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Post entries from day books to Nominal Accounts
Enter Journal Transactions
Balance & close nominal accounts
Transfer balance on nominal accounts to trial balance |
Aim:
To be able to prepare & complete a full set of
financial accounts from the nominal ledger accounts |
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Vat rates. Resale & non resale vat analysis
Vat reports
Identify each item in the trial balance as either revenue
or capital
Post the transactions from the trial balance to the Profit
& Loss account
Post the transactions from the trial balance to the
Balance Sheet
Read & understand the Profit & Loss Account &
Balance
Sheet |
