Created by Matt Hynes 27/11/10
Improving the Uptake and Results
in
Junior Certificate Business Studies Bookkeeping and Accounts.
Introduction
I have chosen this topic because of my concern that Bookkeeping and Accounts questions in the
examination papers each year are often either not attempted or poorly attempted. The impact of this on
the examination results and on the uptake in Leaving Certificate Accounting is serious.
In Higher Level 2010 there were:
Eight bookkeeping and account questions worth 32 marks in Section A Paper I;
One bookkeeping and account question worth 40 marks in Section B Paper 1;
Four bookkeeping and account questions / parts worth 121 marks in Paper 11.
A total of 193 or 48.25% of the examination paper consists of Bookkeeping and Accounts.
The following tables show the average popularity and average marks of these questions:
Table 1
Paper 1 Higher
Question / Section
Popularity %
Average Marks
Section A
100
49*
Section B Q 2
49
26
* Average for all 20 questions
Table 2
Paper 11
Question
1
2
4
6
Popularity %
28
82
73
93
Average Marks
29
21
32
31
In Ordinary Level 2010 there were:
Three bookkeeping and account questions worth 15 marks in Section A;
Two bookkeeping and account questions in Section B worth 120 marks.
While Q 6 Analysed Cash Book was very popular and well answered, Q 2 Final Accounts and Balance
Sheet was not popular or well answered.
This is a total of 135 or 33.77% of the examination on Bookkeeping and Accounts
The effects of the above results have to be considered in the context of the minimum marks required to
achieve different grade levels.
Grade
A
Higher Level
Section A 80 marks
68
Higher Level
40 marks
34
Ordinary Level
Section A 100 marks
85
Ordinary Level
60 marks
51
B
56
28
70
42
C
44
22
55
33
D
32
16
40
24
The average marks of the Higher Level 40 mark Bookkeeping and Account questions at in 2010
were below the A grade.
Created by Matt Hynes 27/11/10
Background
The Business Studies Syllabus, introduced in 1989, was first examined in 1992.
Bookkeeping and Accounts feature prominently in the syllabus and examinations.
The following tables detail the Bookkeeping and AccountsTable 3
The Bookkeeping and Accounts Topics on a Higher Level, Paper 1 and Paper 2 basis;
Table 4
The Bookkeeping and Accounts Topics in Ordinary Level.
Table 3
Bookkeeping and Accounts Topics in a Higher Level, Paper 1 and Paper 2
Bookkeeping and Accounts Topics
Paper 1
Paper 2
Section A
Section B
Analysed Cash Books / Petty Cash Books for Households,
√
√
√
Clubs, Farms and Businesses
Bank Accounts and Bank Reconciliation
√
√
√
Books of First Entry- Sales and Purchases Books,
Sales and Purchases Returns Books,
√
√
General Journal
Ledger Accounts
√
√
Trial Balance
√
√
Control Accounts
√
Club Accounts – Accumulated Fund Statement,
√
√
Receipts and Payments Accounts,
Final Accounts and Balance Sheets for Businesses
√
√
Final Accounts and Balance Sheets for Service Firms
√
√
Final Accounts and Balance Sheets for Clubs
√
√
Ratio Analysis
√
√
√
Household Budgets / Cash Flow Forecasts
√
√
Table 4
Bookkeeping and Accounts Topics in Ordinary Level
Bookkeeping and Accounts Topics
Ordinary
Section A
Section B
Analysed Cash Books / Petty Cash Books for Households,
√
√
Clubs, Farms and Businesses
Bank Accounts
√
√
Bank Reconciliation
√
Trial Balance
√
Club Accounts –
√
√
Farm Accounts
√
Final Accounts and Balance Sheets for Businesses
√
√
Final Accounts and Balance Sheets for Service Firms
√
√
Final Accounts and Balance Sheets for Clubs
√
√
Theory on Final Accounts of Business, Service and Clubs
√
Ratio Analysis (Mark-up and Gross and Net Margins)
√
√
Household Budgets
√
Created by Matt Hynes 27/11/10
The following data is for years 2010 to 2006 and shows the Section A Bookkeeping and Account
Style of questions examined at both Higher and Ordinary Level.
Table 5
Section A Higher Level Bookkeeping and Accounts Questions 2010 to 2006
2010
Question Topic
1
Theory on Bookkeeping Initials
3
Completion of Profit and Loss Appropriation Account
4
Theory on where transactions are entered – Operating Statement, Balance Sheet
6
Completion of Ledger Accounts - Double Entry
8
Recording data in Control Accounts
14
Acid Test / Quick ratio
15
Recording data in Sales Returns Book
17
Recording data in General Journal
2009
Question Topic
4
Completion of Trading Account
6
Calculation of Return on Capital Employed
7
Completion of Ledger Accounts – Double Entry
11
Calculation Bad Debts written off
13
Recording data in Debtors Control Accounts
15
Theory on where transactions are entered – Operating Statement, Balance Sheet
17
Recording data in General Journal
18
Recording data in Purchases Returns Book
2008
Question Topic
3
Completion of Balance Sheet
5
Ledger Accounts and Double Entry
10
Calculation of Farm Current expenditure
13
Recording data in Debtors Control Accounts
14
Calculation of Stock Turnover
16
Theory on where transactions are entered Trading A/C, P & L A/C, Balance Sheet
18
Recording data in General Journal
19
Theory on why Cash Flow Forecasts are prepared
20
Recording data in Sales Returns Book
2007
Question Topic
4
Recording data in Sales Book or Theory on Sales Returns Book
9
Recording data in Creditors Control Account
11
Completion of Profit and Loss Appropriation Account
15
Recording data in General Journal
16
Completion of Balance Sheet
20
Completion of Ledger Accounts - Double Entry
2006
Question Topic
3
Trading Account or Effects of entry left out on Net Profit
7
Theory on why Farms prepare accounts
8
Theory on which book invoices and credit notes are entered in
9
Recording data in Debtors Control Accounts
11
Theory on Balance Sheet terms
14
Calculation of Acid Test / Quick Ratio or importance of profitability ratios
15
Recording data in General Journal
20
Completion of Ledger Accounts - Double Entry
Created by Matt Hynes 27/11/10
Table 6
2010
Question
7
8
12
2009
Question
7
15
2008
Question
10
15
16
17
2007
Question
10
13
18
2006
Question
5
7
9
12
15
Section A Ordinary Level Bookkeeping and Accounts Questions 2010 to 2006
Topic
Current Assets Calculation
Bank Account Balancing
Operating Statement
Topic
Fixed Asset Calculation
Bank Account Balancing
Topic
Current Asset Calculation
Operating Statement and Balance Sheet
Cash Account Balancing
Income and Expenditure – Surplus / Deficit
Topic
Current Assets Calculation
Bank Account Balancing
Theory on Gross Profit and Working Capital
Topic
Club Account Accumulation Fund Theory
Fixed Assets Calculation
Farm Accounts Theory
Cash Account Balancing
Petty Cash Impress Calculation
Feel free to continue these tables back to 1992 when the Syllabus was first introduced
Please heed the Business Studies Examination Health Warning
Business Studies Examination
Health Warning
Failure to Perform in Bookkeeping and Accounts Questions
Will Seriously Damage your Examination Results
It can be clearly seen from the above data that Bookkeeping and Accounts form a major part of
the Business Studies Syllabus so Three Questions worth Pondering
Why is that there is a Poor Uptake and Attempt made?
How can the Uptake in Bookkeeping and Accounts be improved?
How can the examination performance be improved?
From talking to teachers around Ireland some factors for the poor uptake are common.
Created by Matt Hynes 27/11/10
Possible Factors Influencing The Uptake of Bookkeeping and Accounts
These factors are divided under three headings.
Factors
The Syllabus
The Examination
Ability Groupings (streamed/ mixed)
Timetabling (number of class periods per week)
Classroom facilities
Textbooks
Knowledge level of teachers
Teachers assigned to teaching Junior Cycle classes
Not having Accounting as a Senior Cycle Subject
Teaching Strategies and Attitude to Bookkeeping and Accounts
Cooperating teaching approach / team teaching / Subject plans
Under
Teacher’s
Control
Outside
Teacher’s
Control
√
√
√
√
√
Worth
Fighting
For*
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
√
* Teachers can a have bigger say in a lot of the above by joining the BSTAI.
Created by Matt Hynes 27/11/10
An Approach to Teaching Bookkeeping and Accounts that might improve the uptake.
I will now set out a few suggestions that might be of interest to you re my approach to teaching
Bookkeeping and Accounts. This is very much a personal thing and any advice offered is based on my
own experiences as a teacher and trainer of teachers.
You can win them over or lose them in first year. This is especially true if it is optional subject.
Turn On
Turn Off
Who Are You!
Get to know your class, ability wise, and follow an appropriate strategy;
Wow Effect!
Make the students’ experience of Bookkeeping and Accounts as enjoyable as possible.
We must market Bookkeeping and Accounts;
Yippee Effect!
Appear excited about Bookkeeping and Accounts and let your enthusiasm flow to your studentsafter all it’s about Recording the Receiving and Spending of Money a topic close to their hearts.
If We Do Not Record it, We May Lose it (one of the reasons for bookkeeping and accounts);
Students Experiences Effect!
Base examples used on students experiences in as far as possible.
Let them provide examples;
Turn Off Effect!
DO NOT say that Bookkeeping and Accounts is difficult, as it will put them off straight away.
No Negative Thoughts Please!
I introduce Bookkeeping and Accounts in First Year through:
Personal and Household Cash and Bank Accounts, simple and analysed;
Simple Income and Expenditure Accounts and Balance Sheets of Clubs.
My Aim in First Year is to have students well versed in:
The Recording of transactions (Cash / Bank) – Date Details, Total and Analysis;
The Rules of Double Entry (cash transactions);
Balancing Accounts;
The Preparation of Income and Expenditure Accounts and Balance Sheets of Clubs.
I use appropriate templates (which in effect are similar to the present Ordinary Level Examination
Paper and Higher Level Inserts)
I draw on, where possible, the students’ experiences e.g. their pocket money, their clubs.
The recording of the transaction is, at first, more or less a form filling exercise with a twist i.e.
By completing the relevant templates they will learn the Double Entry Rule of recording the Receiving
Aspect on the Left Hand side and the Giving Aspect on the Right Hand side.
The Left and Right hand sides will later on become the Debit and Credit sides respectively.
They will also learn that Accounts with different amounts on each side need to be balanced.
The Preparation of Simple Income and Expenditure Accounts and Balance Sheets of Clubs finally
completes a good year’s work.
Created by Matt Hynes 27/11/10
Teaching Aids used:
Play By the Rules!
Rules of the school / games etc--.
There are rules concerning everything we do as this makes it easy for all to get on with each other.
I also display some of the Rules of Bookkeeping and Accounts along side some of my class rules on the
walls of my classroom.
If students want to blame someone for having to learn off these rules I refer them to Pacioli who I belief
was big into Double Entry Bookkeeping in the Fourteen Nineties.
Double Entry Doors
The Restaurant Kitchen Doors
Kitchen
Entrance
Left Hand Side
Debit door
Exit
Right Hand Side
Credit door
If I had two doors into my classroom I would make students use one for entering and one for exiting;
Double Entry -Game On
Soft Ball- give (throw) with the right hand and receive (catch) with the left hand. Students can practise
with anyone at home with the use of a ball – giving and receiving a ball while reciting the rule in their
head “I give with the Right Hand and I receive with the Left Hand”;
Templates
Templates of Cash Books, Income and Expenditure and Balance Sheets;
The Text Book
Use it at will;
Ruled Paper
Students can be a choice to use special business studies copies or ordinary copies but these must be ruled
them in advance of class;
Business Studies Note Book /Copy
To record name and explanations of new terms and words learned, thus builing up their Bookkeeping
and Accounts vocabulary.
Created by Matt Hynes 27/11/10
I start off with students having to account for their spending.
Account For Your Self
Record keeping and accounts is a very special form of communication, requiring rules, to show
everyone what is going on.
Students can be asked to account for themselves
e.g. to prepare a Report (account) of the last time they purchased something
e.g. Purchased a Biro for €3.
They must show in their report (account) :
Account Heading –
Biro
When they purchased the item –
27/11/2010
How they pay for item –
Cash
Where more information can be found about what they purchased Folio
How much they gave
- €3.
Biro Report (Account) Summary
On 27/11/2010 A Biro was purchased for €3. or A Biro was received and €3 Cash was given.
When they have finished their report they can then be asked to rewrite it in the form of an account like
that shown below. This will show both sides of the transaction.
Recording the purchase of a Biro for €3 on 27/11/2010.
Step 1 Identify the accounts involved in a transaction
Step 2
Debit the Receiver Account
Credit the Giver Account
IN (Debit)
Date
2010
27/11
Details
Cash
Folio
CB
Biro and Cash
Biro Account
Cash Account
Total
Date
€
2010
BIRO Account*
3
CASH Account**
27/11
Details
BIRO
(Credit) OUT
Folio
Total
€
CB
* Receiving Account
** Giving Account
+ Factor Their Bookkeeping and Accounts vocabulary starts and is recorded in a notes book.
E.G. Debit, Credit,, Double Entry Rule, Account Heading in centre of page.
3
Created by Matt Hynes 27/11/10
The Tale of The Unsteady Table Or The Balancing Act
Discovering How to Balance an Account (the Lego Way)
Quandary!
This coffee table is uneven and there is no shop open to buy a replacement.
How can we overcome the problem for now?
Left
Right
Answer! We measure both sides and find out the difference.
We then put something equal to the difference on the smallest side
This makes both sides equal for now.
The left hand side has seven blocks and the right hand side has five blocks.
The difference between the two sides is two blocks.
Left
Right
Difference between the two sides is two rows
In Bookkeeping and Accounts
The Difference is called the Balance
Rule for Balancing An Account:
Find the Difference between the two sides by subtracting the total of the small side from the total of the big side
The Difference is called the Balance.
Put this balance on the small side to make it equal to the big side.
Carry down (C/D) this balance to the big side
This Balance brought down (B/D) shows which side is the biggest and by how much.
Created by Matt Hynes 27/11/10
We can now Apply the above solution to an Account where one side is bigger than the other.
Date
2010
27/11
Details
Sales
Total
Date
€
2010
Cash A/C
1,000
26/11
Details
Purchases
Total
€
400
The Left hand side is bigger than the right hand side by €600.
Insert €600 on the right hand side to make it the same as the left hand side for now.
Date
Details
27/11
Sales
28/11
Balance B/D
Total
Date
€
Cash A/C
1,000
26/11
27/11
1,000
Details
Purchases
Balance C/D
Total
€
400
600
1,000
600
This Left hand side is the biggest by €600
Once the balancing has been mastered one can then introduce the Folios.
Students should practise this Balancing Act with different types of accounts to become familiar
with the concept.
+ Factor Their Bookkeeping and Accounts vocabulary is expanded and recorded in a notes book.
Balancing, C/D, B/D
Created by Matt Hynes 27/11/10
Template Examples
Money Coming In
Date
Details
When money
was received
Where Money
Came from
Cash Account of Household
Money Going Out
Total
Date
Details
Total
€
€
Amount of When money Where money
Amount of
Money
was paid out
Went to
Money
Balance C/D
Amount of money if
any left over at the end
of a period or the
difference between the
two sides
Total
Total
Balance B/D
Amount of
Money starting
off new period
Money Coming In
Date Details Total
Cash
€
Analysed Cash Book (Cash)
Analysis
Date Details
Total
Cash
€
Breakdown of money
received
Money Coming In
Date Details Total
Bank
€
Analysed Cash Book (Bank)
Analysis
Date Details
Breakdown of money
received
Money Going Out
Analysis
Breakdown of
money paid out
Total
Bank
€
Money Going Out
Analysis
Breakdown of money
paid out
+ Factor Their Bookkeeping and Accounts vocabulary is expanded and recorded in a notes book.
Analysis Columns
Created by Matt Hynes 27/11/10
How Well Did The Club Do In a Given Year?
See for yourself using the Income and Expenditure Account Template.
Income and Expenditure Account of the BSTAI SCOUTS CLUB for the year ended 27/11/2010
INCOME
(Details of Income e.g.)
Membership fees
Raffle tickets
Competition Prizes
Less EXPENDITURE
(Details of Expenditure e.g.)
Rent of Mini Bus
Refreshment
Light and Heat
Insurance
SURPLUS ( if Income > Expenditure)
DEFICIT (if Income < Expenditure)
What Does the Club Own?
Assets!
What Does The Club Owe?
Liabilities!
How Much Capital Did It Employ
Financed By!
See for yourself in the Balance Sheet Template.
Balance Sheet of the BSTAI SCOUTS CLUB as on 27/11/2010
FIXED ASEETS
Den,
Equipment
Minibus
CURRENT ASSETS
Stock of minerals
Cash
Less CURRENT LIABILITIES
(less than one year)
Bank Overdraft
WORKING CAPITAL ) CA Less CL
TOTAL NET ASSETS
FINANCED BY
( where club obtained the money from)
Accumulated Fund
(clubs capital)
plus Surplus
Plus LONG TERM LIABILITIES
(more than one year)
10 year Loan
CAPITAL EMPLOYED
(the money the club has working for it)
Check to See if the TOTAL NET ASSETS = CAPITAL EMPLOYED
Note : + Factor Their Bookkeeping and Accounts vocabulary is further expanded and recorded in a
notes book : Surplus (profit); Deficit (loss); Fixed Assets; Current Assets; Current Liabilities;
Working Capital; Total Net Assets; Financed By; Accumulated Fund; Long Term Liabilities;
Capital Employed.
Created by Matt Hynes 27/11/10
An Approach to Teaching Bookkeeping and Accounts in Second Year
The rules of Double Entry, learned when entering records in the Analysed Household Cash Books, are
reviewed with the help of the Double Entry Ball game as a reward for knowing the rules.
As this stage I expect students to be able to use their knowledge of Household Analysed Cash Books and
apply it to Analysed Cash Books of Businesses as the only change they have to deal with is in the
headings.
This also gives me the opening to introduce the General Ledger to post the relevant entries from the
Analysed Cash Book to the General Ledger.
The one account per item rule is introduced e.g. One account for VAT no matter how many entries are
made.
VAT is the Account containing the most entries of all ledger accounts;
The Folio is also introduced by referring to the General Ledger (GL) in The Analysed Cash Book
and referring to the Analysed Cash Book (ACB) in the General Ledger;
A General Ledger Template is now used.
Date
Details
F
Total
Date
Details
F
Total
GENERAL LEDGER of BSTAI Ltd
A/C
A/C
The bookkeeping and accounts is checked out in the Trial Balance or as my students now like to call it
The Trial of the Balances (the trial of the debits and the credits).
The Trial Balance Rule is introduced namely:
Debit in the Ledger; Debit in the Trial Balance;
Credit in the Ledger and Credit in the Trial Balance.
Again the Trial Balance Template is very useful here.
TRIAL BALANCE of BSTAI Ltd as on 27/11/2010
Date
Details
DR
€
Debit Balances from
CR
€
Credit Balances from
the ledger and the
the Ledger and the
Cash Book balance if
Cash Book Balance
appropriate
if appropriate
DR= CR
Created by Matt Hynes 27/11/10
When preparing a Books of First Entry, Ledger and Trial Balance Question
What entry is often left out in the Trial Balance?
Answer Bank!
So try this paraphrase of Christy Moore’s Song
“Don’t Forget the Bank
When You Extract a Trial Balance”
Speaking of Trial Balances Try This! (Thanks to C G a former student of mine)
Understanding the Trial Balance the one eyed Eagl way
TRIAL BALANCE AS ON
DR
Expenses
Assets
CR
Gains
Liabilities
Note : + Factor Their Bookkeeping and Accounts vocabulary is further expanded and recorded in a
notes book: General Ledger; Folio; One Account per item Rule; Trial Balance,
Rules for Entering accounts in the Trial Balance
Created by Matt Hynes 27/11/10
Credit Transactions
I move quickly through the relevant business documents – Letter of Enquiry, Quotation, Orders (as these
are covered already in First Year in the Consumer Sections) onto the Delivery Dockets and the two main
credit transaction documents relevant to Bookkeeping and Accounts namely the Invoice and Credit
Note.
Following the completion of the Invoice and Credit Note the students are able to select the main data to
be recorded in the Purchases and Sales Books and the Purchases Returns and Sales Returns Books using
the templates provided.
Main Data to be extracted:
Name of Customer or Seller;
Invoice or Credit Note Number,
Date on Document
The Last Three Figures in each document- Net Amount, VAT Amount and Total Amount.
Note : + Factor Their Bookkeeping and Accounts vocabulary is further expanded and recorded in a
notes book : Invoice; Credit Note; Purchases Book, Purchases Returns Book; Sales Book;
Sales Returns Book.
Created by Matt Hynes 27/11/10
Books of First Entry Book Templates
Note: The Folios and Columns are coloured coded to show where each figure goes in the different
ledgers
Red for Creditors Ledger, Purple for Debtors Ledger and Blue for general Ledger
(LAYOUT) PURCHASES BOOK of BSTAI Ltd
Date
Details
Invoice
F
NET
VAT
TOTAL
€
€
€
No.
CL
GL
Control Account
GL
(LAYOUT) SALES BOOK of BSTAI Ltd
Date
Details
Invoice No.
F
NET
VAT
TOTAL
€
€
€
DL
GL
Control Account
GL
(LAYOUT) PURCHASES RETURNS BOOK of BSTAI Ltd
Date
Details
Credit Note
F
NET
VAT
TOTAL
€
€
€
No.
CL
GL
GL
Control Account
(LAYOUT) SALES RETURNS BOOK of BSTAI Ltd
Date
Details
Credit Note
F
NET
VAT
TOTAL
€
€
€
No.
DL
GL
GL
Control Account
Created by Matt Hynes 27/11/10
The Ledgers, suitably colour coded, are now brought back into play.
Ledger Rules are reinforced and new ones introduced:
The Double Entry Rule of - Debit the Receiving Account and Credit the Giving Account is reinforced
here.
Another possible way of teaching this Rule is as follows.
The student has to learn off One Rule :
Q 1 On what side of the Purchases Account are entries posted to:
Answer : The Left Hand Side
Q2
List two opposites of Purchasing?
Answer :
(A) Purchases Returns.
Therefore if Purchases Returns is opposite to Purchases then entries must be posted to the Right Hand
Side of the Purchases Returns Account
(B) Sales
Therefore if Sales is the opposite to Purchases then entries must be posted to the Right Hand Side of the
Sales Account
Q3
Name an opposite to Sales other than Purchases
Answer : Sales Returns
Therefore if Sales Returns is the opposite to Sales then entries must be posted to the Left Hand Side of
the Sales Returns Account
Ledger Templates
Date
Details
F
Total
Date
Details
F
Total
GENERAL LEDGER of BSTAI Ltd
Purchases A/C
Total Net Creditors
PB
Purchases Returns A/C
Total Net Creditors
PRB
Total Net Debtors
SB
Sales A/C
Sales Returns A/C
Total Net Debtors
Date
Details
SRB
F
Total
Date
Details
F
CREDITORS LEDGER of BSTAI Ltd
Cork A/C
Purchases returns
PRB
Purchases
PB
Purchases
PB
Kerry A/C
Purchases returns
PRB
Total
Created by Matt Hynes 27/11/10
DEBTORS LEDGER of BSTAI Ltd
Galway A/C
Sales returns
SRB
Sales
SB
Sales
SB
Mayo A/C
Sales returns
SRB
On What Side of the VAT Account are entries Made?
VAT is like a shoe - it follows the foot i.e. the left shoe goes on the left foot and right shoe goes on the
right foot.
In bookkeeping and accounts the shoe is the VAT and the foot is either : Purchases, Purchases, Sales or
Sales Returns Account.
If the student knows the side to enter the Sales Account then the VAT on Sales is entered on the same
side in the VAT Account and so on.
Date
Details
F
Total
Date
Details
F
Total
GENERAL LEDGER of BSTAI Ltd
Sales A/C
Total Net Debtors*
SB
Credit Sales*
SB
VAT A/C
Credit Purchases**
PB
Purchases A/C
Total Net Creditors**
PB
Other Useful Tips:
Never Put the Companies Name into the ledger accounts as the company is represented by accounts
such as Purchases, Sales, Purchases, Sales Returns, VAT, Wages, Insurance etc
The company name can be inserted in the Name of the Ledger see above e.g.
General Ledger of BSTAI Ltd; Debtors Ledger of BSTAI Ltd, Creditors Ledger of BSTAI Ltd.
Only Balance Accounts that have entries on both sides
Balance all the accounts that have entries on both sides to show which side is the biggest and by how
much
General Journal and Trial Balance Entry Rule
Debit in the Ledger: Debit in the General Journal and Trial Balance;
Credit in the Ledger: Credit in the General Journal and Trial Balance.
Note : + Factor Their Bookkeeping and Accounts vocabulary is further expanded and recorded in a
notes book : Recording VAT; One Account per Item; Post items; General Journal
Created by Matt Hynes 27/11/10
Ten Recommendations for Improving Results in Bookkeeping and Accounts
1.
Be prepared to answer Bookkeeping and Account Questions
2.
Read the question – especially the number of parts to the question e.g. Final Accounts and
Balance Sheet Question has two Parts namely (A) 35 marks (B) 5 marks
3.
Understand the Outcome Verbs used :
Record / Enter/ Write Up
Put original data from documents into a Book of First Entry
Post
Take data from the Book of First Entry and put it in the Ledger
Balance
Show on one line which side of an account is the biggest
Extract
Prepare a Trial Balance from Ledger and Analysed Cash Book Balances
Prepare
Set out the Final Accounts and Balance Sheet from data supplied in the Trial Balance
Calculate
Work out answers, using a formula, from given data
4.
Pickup the marks for Layout and presentation e.g.
Date – Day Month and Year
Folio – In the Books of First Entry refer to the appropriate Ledger,
In the Ledger refer back to the Book of First Entry
In Final Accounts and Balance Sheet Headings insert Name of Business and ‘for year ending ‘
and ‘as on’ in the Trading Profit and Loss Appropriation Account and Balance Sheet respectively
5.
Do the time
6.
History Lesson Use past Papers to revise for examination – practise makes perfection
7.
Every 4 marks is 1% so Practise the Short Questions in Bookkeeping and Accounts
8.
Use the Bookkeeping and Accounts stationery as there are no marks for drawing lines.
9.
Revise in themes e.g.
Analysed Cash Books of Households/ Clubs, Businesses/ Farms and Service Firms
Trading Account for Businesses and Clubs
Balance Sheet for Clubs/ Businesses/ Service Firms and Farms
General Journal ? Accumulated Fund Statement for calculating Opening Share Capital of a
Company and Accumulated Fund of a Club
10.
Use the examination paper as an examination aid:
E.G. In 2009 Paper 2 Examination You can get some help with Q 1 Books of First Entry, Ledger
and Trial Balance parts by referring to insert document for Q.2 and Q 4 Trial Balance.
Likewise in Q6 (Ciii) you can refer to the Trial Balance in Q 4.
Do not leave the examination before the finishing time because
Conclusion
I started out by stating my concern that Bookkeeping and Accounting questions in the examination
papers are often either not attempted or poorly attempted.
The Bookkeeping and Accounting content of the Syllabus was set out and some suggestions were
offered as to how some of this content might be taught and how results could be improved.
Created by Matt Hynes 27/11/10
I hope my presentation will of some help and encourage you to be creative and positive about
Bookkeeping and Accounting.
I urge you, as Business Studies Teachers, to Market the Bookkeeping and Accounting as strongly
as you can.
I would like to wish you and your students the very best in the 2011 Business Studies Examination.
Matt Hynes
27 October 2010