The aim of the examination is to test candidate’s understanding of the basic principles underlying the recording of business transactions, including the influence of Information Technology and the ability to prepare accounts for sole traders and non-trading organizations
|1.0 The recording by double entry book-keeping of simple transactions concerning the purchase and sale of goods and the receipt and payment of cash.
(a) Books of prime entry relating to:cash and bank, purchases, sales, returns inwards, returns outwards, Journal proper.
(b) Methods of payment and receipt:cheques, standing orders, credit transfers, direct debits
(c) Bank reconciliation
(d) Trade and cash discounts-essential difference and how they are recorded
(e) Petty cash book and the imprest system
(f) The ledger and its possible sub-divisions. The distinction between personal, real and nominal accounts.
2.0 The objects and extraction of the trial balance
3.0 The distinction between:
4.0 Treatment of:
5.0 The preparation of: