Unit 3 Topics - 2015
Unit 2
Exam
Area of Study 1
Accounting Principles (CHERMCG) and Qualitative Characteristics (CURR)
Accounting Elements (CA, NCA, CL, NCL, OE, R, E)
Accounting System (Input – Process – Output)
Accounting Equation (A= L + OE)
Source Documents (receipts, chq butt, sales and purchases invoices, memo, statement of account, bank stat)
Stock cards (FIFO)
GST Clearing Account
Transactions to Special Journals (CRJ, CPJ, SJ, PJ)
Discounts to Debtors and Discounts from Creditors
Transactions to the General Journal (establishing a double-entry system, correcting entries, capital contribution
of NCA, using stock for advertising, drawings of stock and bad debts)
Historical cost and agreed value of NCA
Posting Journals to the General Ledger
Posting Journals to the Subsidiary Ledger and Debtors/Creditors Schedule
Balancing and Closing Ledger accounts
Reasons for using Control accounts
Internal Control Procedures
Area of Study 2
Recording (GJ and Ledgers) and Reporting Balance day adjustments (depreciation, stock loss/gain, prepaid
expenses, accrued expenses)
Payment of accrued expense in the subsequent period (CPJ)
Closing Revenue and Expense accounts (GJ and Ledger)
Preparation of the Profit and Loss Summary account and transfer profit or loss to the Capital account
Transferring Drawings to Capital
Post adjusted Trial Balance
Accounting Reports (Income Statement, Balance Sheet, Cash Flow Statement)
Difference between Profit (Income Statement) and Cash (Cash Flow Statement)
Q1
Q5c/d
Q6d
Q2a
Q3a
Q5b
Q6c
Q2b
Q4
Q3d
Q2b
Q9
Q3b/c
Q5a
Q6a/b/d
Q7a
Q8
Q10
Competent
Not Yet
Competent