TABLE OF CONTENTS
CHAPTER 1 ACCOUNTING BASICS
1.1: BASIC ACCOUNTING & ACCOUNTING EQUATIONS
1.2: JOURNAL ENTRIES
1.3: LEDGER ACCOUNTS
1.4: BOOK KEEPING & ACCOUNTING
1.5: TRAIL BALANCE
1.6: THEORY
ANSWER SECTION
CHAPTER 2 BOOKS OF PRIME ENTRY
2.1: PURCHASES JOURNAL
2.2: SALES JOURNAL
2.3: RETURN OUTWARDS JOURNAL
2.4: RETURN INWARDS JOURNAL
2.5: GENERAL JOURNAL
2.6: PURCHASES LEDGER
2.7: SALES LEDGER
2.8: OTHER SOURCE DOCUMENTS
2.9: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 3 CASH BOOK AND PETTY CASH BOOK
3.1: TRADE DISCOUNT
3.2: CASH DISCOUNT
3.3: CALCULATION OF AMOUNTS NET OF DISCOUNTS
3.4: DOUBLE ENTRY IN CASH BOOK
3.5: CALCULATION OF CASH BOOK BALANCES
3.6: PETTY CASH BOOK
3.7: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 4 BANK RECONCILIATION STATEMENTS
4.1: UPDATED CASHBOOK
4.2: BANK RECONCILIATION STATEMENTS
4.3: CALCULATION OF OTHER MISSING ITEMS
4.4: THEORY
4.5: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 5 ACCOUNTING FOR NON-CURRENT ASSETS
5.1: THEORY
5.2: STRAIGHT LINE METHOD
5.3: REDUCING BALANCE METHOD
5.4: REVALUATION METHOD
5.5: DEPRECIATION METHODS COMBINED
5.6: DISPOSAL OF ASSETS
5.7: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 6 IRRECOVERABLE DEBTS & PROVISION FOR DOUBTFUL DEBTS
6.1: IRRECOVERABLE DEBTS
6.2: ALLOWANCE FOR IRRECOVERABLE DEBTS
6.3: IRRECOVERABLE & ALLOWANCE FOR IRRECOVERABLE DEBTS
6.4: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 7 INVENRORY VALUATION
7.1: INVENTORY VALUATION
ANSWER SECTION
CHAPTER 8 CAPITAL & REVENUE
8.1: CAPITAL EXPENDITURE
8.2: REVENUE EXPENDITURE
8.3: CAPITAL & REVENUE RECEIPTS
8.4: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 9 CORRECTION OF ERRORS
9.1: TYPES OF ERROR
9.2: JOURNAL ENTERIES TO CORRECT THE MISTAKES
9.3: MISTAKES IN TRAIL BALANCE
9.4: SUSPENSE ACCOUNT
9.5: CORRECTION OF PROFITS
9.6: EFFECTS OF ERRORS ON PROFITS
ANSWERS SECTION
CHAPTER 10 CONTROL ACCOUNTS
10.1: SALES LEDGER CONTROL ACCOUNTS
10.2: PURCHASE LEDGER CONTROL ACCOUNTS
10.3: THEORY
10.4: MULTIPLE TOPICS
ANSWERS SECTIONS
CHAPTER 11 OTHER PAYABLES & RECIEVABLES
11.1: PREPARED & ACCURED EXPENSES
11.2: PRE-RECEIVED & ACCURED INCOMES
11.3: MILTIPLE TOPICS
ANSWER SECTION
CHAPTER 12 SOLE TRADERS
12.1: SOLE TRADERS - AN INTRODUCTION
12.2: TRADING SECTION OF INCOME STATEMENTS
12.3: PROFIT & LOSS SECTION
12.4: STATEMENT OF PROFIT OR LOSS FOR SERVICE BUSINESSES
12.5: NON CURRENT AND CURRENT ASSETS
12.6: WORKING CAPITAL
12.7: CAPITAL & CURRENT LIABILITIES
12.8: CAPITAL & CAPITAL EMPLOYED
12.9: MULTIPLE TOPICS
ANSWER SECTION
CHAPTER 13 PARTNERSHIP
13.1: APPROPRIATION ACCOUNT
13.2: PARTNERS' CURRENT CAPITAL ACCOUNTS
13.3: JOURNAL ENTRIES IN PARTNERSHIP
13.4: PARTNERSHIP AGREEMENT
ANSWERS SECTION
CHAPTER 14 LIMITED COMPANIES
14.1: ORDINARY SHARES
14.2: PREFERENCE SHARES & DEBENTURES
14.3: CALCULATION OF DIVIDENDS & RETAINED PROFITS
14.4: STATEMENT OF CHANGES IN EQUITY
14.5: STATEMENT OF FINANCIAL POSITION
14.6: MULTIPLE TOPICS
ANSWERS SECTION
CHAPTER 15 INCOMPLETE RECORDS
15.1: CALCULATION OF SALES
15.2: CALCULATION OF PURCHASES
15.3: MARKUP & MARGIN
15.4: CALCULATION OF PROFITS THROUGH BALANCE SHEET
15.5: MULTIPLE TOPICS
ANSWERS SECTION
CHAPTER 16 CLUBS & SOCIETIES
16.1: RECEIPTS & PAYMENTS ACCOUNTS
16.2: CALCULATIONS OF SUBSCRIPTION
16.3: INCOME & EXPENDITURE ACCOUNTS
16.4: STATEMENTS OF FINANCIAL POSITION
16.5: MULTIPLE TOPICS
ANSWERS SECTION
CHAPTER 17 MANUFACTURING ACCOUNTS
17.1: PRIME COST
17.2: FACTORY OVERHEADS
17.3: COST OF PRODUCTION
17.4: MULTIPLE TOPICS
ANSWERS SECTION
CHAPTER 18 ACCOUNTING RATIOS
18.1: GROSS PROFIT MARGIN
18.2: PROFIT MARGIN & ROCE
18.3: WORKING CAPITAL & CURRENT RATIO
18.4: LIQUID RATIO
18.5: INVENTORY TURNOVER RATIO
18.6: TRADE RECEIVABLE & PAYABLE TURNOVER
18.7: MULTIPLE TOPICS
ANSWERS SECTIONS
CHAPTER 19 INTRESTED PARTIES
19.1: INTRESTED PARTIES
ANSWERS SECTIONS
CHAPTER 20 LIMITATIONS OF ACCOUNTING STATEMENTS
20.1: LIMITATIONS OF ACCOUNTING STATEMENTS
ANSWER SECTION
CHAPTER 21 ACCOUNTING CONCEPTS
21.1: ENTITY & DUALITY
21.2: PRUDENCE & MONEY MEASUREMENT
21.3: MATCHING, ACCRUAL & REALISATION
21.4: MATERIALITY & CONSISTENCY
21.5: GOING CONCERN & COST
21.6: INTERNATIONAL ACCOUNTING STANDARDS
21.7: MULTIPLE TOPICS
ANSWER SECTION
