BANNERMAN HIGH SCHOOL
S3 & S4 S Grade
ACCOUNTING & FINANCE
Name:
Teacher:
Back to
square one
Did not understand
Half way
there
Mostly understood
Ready to
move on
Understood everything
UNIT 1 – A LOT TO LEARN
A – The Personal Balance Sheet
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the terms
Assets, Liabilities and
Capital
Understand the difference
between Fixed and
Current Assets
Identify items as being
either a Fixed Asset,
Current Asset or Current
Liability
Identify the different aims
of organisations
Understand the
Accounting Equation ie
Assets-Liabilities=Capital
Know the layout of a
Personal Balance Sheet
Complete Personal
Balance Sheet exercises
at Foundation level
Complete Personal
Balance Sheet exercises
at General level
Complete Personal
Balance Sheet exercises
at Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
2
Business Education Dept
UNIT 1 – A LOT TO LEARN
B – Personal Cash Budgets
I should be able to:
Date
Understanding Choose and
Levels
Enter a Level
Understand the purpose of
a Personal Cash Budget
Name some advantages
of preparing a Cash
Budget
Know the layout of a
Personal Cash Budget
Understand the terms
Opening and Closing
Balance
Identify items as being
either cash in or cash out
Complete Personal Cash
Budget Exercises at
Foundation Level
Complete Personal Cash
Budget Exercises at
General Level
Complete Personal Cash
Budget Exercises at Credit
Level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
3
Business Education Dept
UNIT 1 – A LOT TO LEARN
C – Changes in the Balance Sheet
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand why
transactions affect the
Balance Sheet
Understand that each
transaction has at least 2
effects on the Balance
Sheet
Understand that the
Balance Sheet must
always balance
Explain the effect of
transactions on the
Balance Sheet items
Calculate the Balance
Sheet items after each
transaction
Complete Changes to
Balance Sheet exercises
at Foundation level
Complete Changes to
Balance Sheet exercises
at General level
Complete Changes to
Balance Sheet exercises
at Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
4
Business Education Dept
UNIT 1 – A LOT TO LEARN
D – Receipts and Payments Accounts
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the purpose
of a not-for-profit
organisation
Know the main office
bearers and their function
Understand how the
organisation raises
finance
Understand the terms
subscriptions, honorarium
and others, associated
with the club
Know the layout of a
Receipts and Payments
Account
Identify items as either a
receipt or a payment
Understand the terms
opening and closing
balance
Complete R&P exercises
at Foundation level
Complete R&P exercises
at General level
Complete R&P exercises
at Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
5
Business Education Dept
UNIT 2 – GOING SOLO
A – The Sole Trader
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the meaning
of Sole Trader
Explain the advantages
and disadvantages of this
type of organisation
Know how the sole trader
raises finance
Know how to calculate
interest on a bank loan
Comment on alternative
business options
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
6
Business Education Dept
UNIT 2 – GOING SOLO
B – The Ledger – Cash Transactions
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the purpose of
the ledger
Know the layout of an
account in the ledger
Understand the principal
of double entry bookkeeping
Recognised and
understand the purpose of
a cheque and a counterfoil
Complete a cheque
Enter cash and bank
transactions into the
ledger accounts
Complete a Trial Balance
to check the accuracy of
the double entry
Complete ledger exercises
at Foundation level
Complete ledger exercises
at General level
Complete ledger exercises
at Credit level
Teacher’s Comments:
Accounting & Finance
Pupil’s Comments:
7
Business Education Dept
UNIT 2 – GOING SOLO
B – The Ledger – Cash Purchases, Sales and Returns Transactions
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the need for
ledger accounts for
Purchases, Sales,
Purchases Returns and
Sales Returns
Recognise and
understand the
significance of a receipt
Recognise and
understand the
significance of a till roll
Enter transactions from
documents and text into
the ledger
Complete exercises at
Foundation level
Complete exercises at
General level
Complete exercises at
Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
8
Business Education Dept
UNIT 2 – GOING SOLO
B – The Ledger – Cash Expenses and Drawings Transactions
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the meaning
of Expenses
Understand the meaning
of Drawings
Identify the nature of a
transaction from
documents
Complete exercises at
Foundation level
Complete exercises at
General level
Complete exercises at
Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
9
Business Education Dept
UNIT 2 – GOING SOLO
C – The Final Accounts of a Sole Trader
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand how profit is
made
Understand the purpose
and layout of a Trading
Account
Calculate Gross Profit by
preparing a Trading
Account
Understand the purpose
and layout of a Profit and
Loss Account
Calculate Net Profit by
preparing a Profit and
Loss Account
Understand the purpose
and layout of a Balance
Sheet
Calculate Net Worth by
preparing a Balance Sheet
Identify the placement of
items in a set of final
accounts
Complete Final Accounts
exercises at Foundation
level
Complete Final Accounts
exercises at General level
Complete Final Accounts
exercises at Credit level
Teacher’s Comments:
Accounting & Finance
Pupil’s Comments:
10
Business Education Dept
UNIT 2 – GOING SOLO
D – Credit Transactions
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Know the purpose of an
Invoice and Copy Invoice
Complete an Invoice and
Copy Invoice
Post Credit Purchases
and Sales to the ledger
Understand and calculate
Trade Discount
Understand, calculate and
post VAT to the ledger
Know the purpose of a
Credit Note and Copy
Credit Note
Complete a Credit Note
and Copy Credit Note
Post Credit Purchases
and Sales Returns to the
ledger
Complete a set of final
accounts with cash and
credit transactions
Complete exercises at
Foundation level
Complete exercises at
General level
Complete exercises at
Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
11
Business Education Dept
UNIT 2 – GOING SOLO
D – Cash Budgets
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the purpose of
a business Cash Budget
Know the layout of a
business Cash Budget
Identify items as either a
Receipt or a Payment
Understand the
importance of the timing of
Receipts and Payments
Understand the
advantages and
disadvantages of a
business Cash Budget
Understand the term
liquidity and its importance
to a business
Complete Cash Budget
exercises at Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
12
Business Education Dept
UNIT 2 – GOING SOLO
E – Cash Discount
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the meaning
of the term Cash Discount
Understand the purpose
of Cash Discount
Recognise Cash Discount
on a document
Calculate Cash Discount
Post Cash Discount to the
ledger accounts
Complete exercises with
Cash Discount at
Foundation level
Complete exercises with
Cash Discount at General
level
Complete exercises with
Cash Discount at Credit
level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
13
Business Education Dept
UNIT 2 – GOING SOLO
F – Break Even Analysis
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the purpose of
Break Even Analysis
Understand the terms
Fixed Costs, Variable
Costs and Sales Revenue
Calculate Fixed Costs,
Variable Costs and Sales
Revenue
Understand the term
Contribution and calculate
it
Read information from a
Break Even Chart
Construct a Break Even
Chart
Know the formula to
calculate the Break Even
Point in units and value
Complete exercises at
Foundation level
Complete exercises at
General level
Complete exercises at
Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
14
Business Education Dept
UNIT 3 – NOT-FOR-PROFIT ORGANISATIONS
A – Income and Expenditure Accounts
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the features of
a club
Understand the methods
of raising funds/finance
Understand the names
and roles of the office
bearers
Understand the meaning
and purpose of an AGM
Know the meaning of and
difference between Capital
and Revenue Expenditure
Know the purpose and
layout of an Income and
Expenditure Account
Select items for inclusion
in an Income and
Expenditure Account
Complete exercises at
Foundation level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
15
Business Education Dept
UNIT 3 – NOT-FOR-PROFIT ORGANISATIONS
B – Income and Expenditure Accounts including depreciation, accruals
and prepayments
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the meaning
of the term Depreciation
and reason for it
Calculate annual
Depreciation (straight line)
Understand why accruals
and prepayments occur
Know the effect of
depreciation, accruals and
prepayments in the final
accounts
Understand the term
Accumulated Fund
Calculate Accumulate
Fund
Know the layout and how
to prepare a club’s
Balance Sheet
Complete exercises at
Foundation level
Complete exercises at
General level
Complete exercises at
Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
16
Business Education Dept
UNIT 3 – NOT-FOR-PROFIT ORGANISATIONS
C – Bank Reconciliation Statements
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the purpose
of a Bank Statement
Know reasons why the
balance on the Bank
Statement need not
match the organisation’s
Bank Account balance
Recognise and explain
the differences between
the Bank Statement and
Bank Account
Understand the purpose
of the Bank Reconciliation
process
Carry out the steps
involved in the Bank
Reconciliation process
Complete exercises at
Foundation level
Complete exercises at
General level
Complete exercises at
Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
17
Business Education Dept
UNIT 4 - PARTNERSHIPS
A – Ratio Analysis
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the meaning
and features of a business
Partnership
Understand the purpose of
Ratio Analysis
Know the Gross Profit
Percentage Ratio and
what it represents
Know the Rate of Stock
Turnover Ratio and what it
represents
Know the Net Profit Ratio
and what it represents
Know the Return on
Capital Ratio and what it
represents
Know the Working
Capital/Current Ratio and
what it shows
Calculate the ratios and
comment on the results
Know the purpose and
contents of a Partnership
Agreement
Complete exercises at
Foundation level
Complete exercises at
General level
Complete exercises at
Credit level
Teacher’s Comments:
Accounting & Finance
Pupil’s Comments:
18
Business Education Dept
UNIT 4 - PARTNERSHIPS
B – The Final Accounts
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Know the advantages and
disadvantages of a
business partnership
Know how finance can be
raised
Understand the
significance and layout of
an Appropriation Account
Understand and calculate
Residual Profit
Calculate the profit shares
from the agreed profit
sharing ratios
Complete a set of final
accounts for a Partnership
Complete exercises at
Foundation level
Complete exercises at
General level
Complete exercises at
Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
19
Business Education Dept
UNIT 4 - PARTNERSHIPS
C – Correction of Errors
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the purpose
and limitations of a Trial
Balance
Know the types of errors
not revealed by the Trial
Balance
Know how to correct
errors not revealed by the
Trial Balance
Know the purpose of a
Suspense Account
Know how to correct
errors involving a
Suspense Account
Complete exercises at
Foundation level
Complete exercises at
General level
Complete exercises at
Credit level
Teacher’s Comments:
Pupil’s Comments:
Accounting & Finance
20
Business Education Dept
UNIT 5 – INTO THE BIG TIME
A/B – Public Limited Companies
I should be able to:
Date
Understanding
Levels
Choose and
Enter a Level
Understand the features
of a PLC
Explain the advantages of
a PLC
Know how a PLC raises
finance
Understand the meaning
and significance of
Limited Liability
Know who runs a PLC
Name the different types
of shares
Understand the difference
between shares and
debentures
Know the layout of an
Appropriation Account for
a PLC
Know the layout of a
Balance Sheet for a PLC
Complete the final
accounts of a PLC
Complete exercises at
Foundation level
Complete exercises at
General level
Complete exercises at
Credit level
Teacher’s Comments
Accounting & Finance
Pupil’s Comments
21
Business Education Dept
RECORD OF ASSESSMENT
Date Grade
Strengths
Weaknesses
Unit 1 Test
Teacher’s
Comment
Pupil’s Comment
Unit 2 Test
Teacher’s
Comment
Pupil’s Comment
Unit 3 Test
Teacher’s
Comment
Pupil’s Comment
S3 Assessment
Teacher’s
Comment
Pupil’s Comment
Unit 4 Test
Teacher’s
Comment
Pupil’s Comment
Unit 5 Test
Prelim
Examination
Teacher’
Comment
Pupil’s Comment
Practical Abilities
Project
Accounting & Finance
22
Business Education Dept
Accounting & Finance
23
Business Education Dept