Accounting

Thursday 15th May 2014

Students have now completed their syllabus and the following areas will be examined in the Summer exams:

• Theory questions covering the accounting knowledge learned and understanding of the terms
• Cash book or Petty Cash Book
• Ledger and Trial balance
• Financial Statements - Trading, Profit & Loss A/C and Balance Sheet.  

Good luck with your revision. 

Thursday 06th March 2014

2. The Financial Statements (Final Accounts)

Students have now moved on from the Trial Balance to look at the financial statements produced by a business.  These include the:

• Trading Account
• Profit & Loss Account
• Balance Sheet 

In addition to learning how to prepare the financial statements, students will also understand simply how depreciation of business assets work. 

Thursday 23rd of January 2014

Update on topics covered by Form 3 to date:

1. The Accounting Model

The starting point for every business on how to record business transactions.

• Source Documents - What they are?
• Day Books - Books of first entry for our Source Documents
• Sales, Purchases, Cash & Petty Cash Book
• Ledgers - Double Entry Accounting 
• Debtors/Creditors & General Ledgers - we post from our Day Books 
• Trial Balance - 
• Where we check that our Day Books and Ledgers have been posted correctly with no errors