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ACC101Management Sciences2 Unitsbeginner

Elements Of Book-Keeping I

This course introduces the fundamental principles of bookkeeping, focusing on the practical recording of financial transactions. It covers the basics of bookkeeping, key accounting concepts and conventions, and the accounting equation. Students will learn to make entries into prime books, balance accounts, and prepare bank reconciliation statements. The course aims to equip students with the skills necessary for maintaining accurate financial records in a business environment.

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91h

Study Time

13

Weeks

7h

Per Week

basic

Math Level

Course Keywords

BookkeepingAccountingFinancial TransactionsPrime EntryTrial Balance

Course Overview

Everything you need to know about this course

Course Difficulty

Beginner Level

Perfect for newcomers to the field

35%

beginner

➕

Math Level

Basic Math

🔬

Learning Type

Hands-on Practice

Course Topics

Key areas covered in this course

1

Bookkeeping Basics

2

Accounting Concepts and Conventions

3

Accounting Equation

4

Prime Books of Entry

5

Cash Book

6

Petty Cash Book

7

Double Entry System

8

Trial Balance

9

Bank Reconciliation

Total Topics9 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assessments

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Computer Based Test

Career Opportunities

Explore the career paths this course opens up for you

Account Clerk

Apply your skills in this growing field

Bookkeeper

Apply your skills in this growing field

Accounting Assistant

Apply your skills in this growing field

Audit Assistant

Apply your skills in this growing field

Payroll Clerk

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Small BusinessesNon-Profit OrganizationsHealthcare FacilitiesRetailFinancial Services

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Concepts and Principles of Accounting

7h

Unit 1: The Concept of Bookkeeping

4 study hours

•Read Unit 1: The Concept of Bookkeeping, focusing on the basics and key rules.
•Complete the self-assessment exercise to test your understanding of bookkeeping methods.

Unit 1: The Concept of Bookkeeping

3 study hours

•Review the key rules and guidelines for maintaining financial records.
•Practice documenting financial transactions and tracking expenses.

Week

2

Module 1: Concepts and Principles of Accounting

7h

Unit 2: Principles of Accounting Concepts and Conventions

4 study hours

•Study Unit 2: Principles of Accounting Concepts and Conventions, focusing on business entity and going concern concepts.
•Understand the importance of uniformity in accounting practices.

Unit 2: Principles of Accounting Concepts and Conventions

3 study hours

•Review accounting conventions such as conservatism, full disclosure, and materiality.
•Complete the tutor-marked assignment to reinforce your understanding.

Week

3

Module 1: Concepts and Principles of Accounting

7h

Unit 3: The Accounting Equation and its Components

4 study hours

•Study Unit 3: The Accounting Equation and its Components, focusing on assets, liabilities, and capital.
•Practice applying the accounting equation to different business scenarios.

Unit 3: The Accounting Equation and its Components

3 study hours

•Distinguish between revenue expenditure and capital expenditure.
•Complete the self-assessment exercise to test your understanding.

Week

4

Module 2: Documentation

7h

Unit 1: Basic Documents

4 study hours

•Study Unit 1: Basic Documents, focusing on invoices, debit notes, and credit notes.
•Understand the purpose and use of each basic document in credit transactions.

Unit 1: Basic Documents

3 study hours

•Distinguish between bookkeeping and accounting.
•Complete the tutor-marked assignment to reinforce your understanding.

Week

5

Module 2: Documentation

7h

Unit 2: Books of Prime Entry

4 study hours

•Study Unit 2: Books of Prime Entry, focusing on sales day book and purchase day book.
•Practice recording transactions in the sales day book and purchase day book.

Unit 2: Books of Prime Entry

3 study hours

•Understand the use of sales return day book and purchase returns day book.
•Complete the tutor-marked assignment to reinforce your understanding.

Week

6

Module 2: Documentation

7h

Unit 3: The Cash Book

4 study hours

•Study Unit 3: The Cash Book, focusing on two-column and three-column cash books.
•Practice posting cash transactions from source documents to the cash book.

Unit 3: The Cash Book

3 study hours

•Understand the treatment of trade discounts and cash discounts.
•Complete the tutor-marked assignment to reinforce your understanding.

Week

7

Module 2: Documentation

7h

Unit 4: The Petty Cash Book

4 study hours

•Study Unit 4: The Petty Cash Book, focusing on the imprest system.
•Practice postings in the petty cash book.

Unit 4: The Petty Cash Book

3 study hours

•Understand the columnar petty cash book.
•Complete the tutor-marked assignment to reinforce your understanding.

Week

8

Module 3: Entries and Balancing of Accounts

7h

Unit 1: Double Entry System of Accounting

4 study hours

•Study Unit 1: Double Entry System of Accounting, focusing on the double aspect of transactions.
•Understand the double effect of a transaction on the finances of a business.

Unit 1: Double Entry System of Accounting

3 study hours

•Apply the golden rules of double-entry accounting.
•Complete the tutor-marked assignment to reinforce your understanding.

Week

9

Module 3: Entries and Balancing of Accounts

7h

Unit 2: The Balancing of Accounts and the trial Balance

4 study hours

•Study Unit 2: The Balancing of Accounts and the Trial Balance, focusing on the ledger.
•Practice balancing and closing ledger accounts.

Unit 2: The Balancing of Accounts and the trial Balance

3 study hours

•Prepare a trial balance from the ledger or a list of ledger account balances.
•Complete the tutor-marked assignment to reinforce your understanding.

Week

10

Module 3: Entries and Balancing of Accounts

7h

Unit 3: Bank Reconciliation Statements

4 study hours

•Study Unit 3: Bank Reconciliation Statements, focusing on bank statements and reconciliation.
•Understand why the bank balance obtained from the cash book differs from the bank statement.

Unit 3: Bank Reconciliation Statements

3 study hours

•Prepare the bank reconciliation statement to agree with the two balances.
•Complete the tutor-marked assignment to reinforce your understanding.

Week

11

Module 1: Concepts and Principles of Accounting

7h

Unit 3: The Accounting Equation and its Components

7 study hours

•Review Module 1: Concepts and Principles of Accounting.
•Focus on understanding the accounting equation and its components.

Week

12

Module 2: Documentation

7h

Unit 4: The Petty Cash Book

7 study hours

•Review Module 2: Documentation.
•Focus on understanding the books of prime entry and their uses.

Week

13

Module 3: Entries and Balancing of Accounts

7h

Unit 3: Bank Reconciliation Statements

7 study hours

•Review Module 3: Entries and Balancing of Accounts.
•Focus on understanding the double entry system and bank reconciliation statements.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all key accounting concepts and conventions from Module 1.

2

Practice making entries into the different prime books from Module 2.

3

Master the double-entry system and balancing of accounts from Module 3.

4

Work through all self-assessment exercises and tutor-marked assignments.

5

Focus on understanding the format and preparation of bank reconciliation statements.

6

Create flashcards for key terms and definitions to aid memorization.

7

Allocate specific time slots for revision each day leading up to the exam.

8

Simulate exam conditions by attempting past questions within the time limit.

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