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ACC102

Elements Of Book-Keeping Ii

  • Management Sciences
  • 100 level
  • 3 credit units
  • 150 pages
  • 15 units

This course introduces the fundamental principles of accounting and methods of recording financial data. It covers both manual and computerized systems, emphasizing the preparation of final accounts for sole traders. Students will learn to prepare statements of profit or loss, financial position, and bank reconciliation statements. The course also explores cost accounting and break-even analysis, providing a comprehensive overview of bookkeeping elements.

About this course

Difficulty
Beginner
Study hours
25 hours
Maths
Basic
Content
Theoretical, practical, problem solving
Practical work
No
How it is assessed
  • Assignments
  • Tutor Marked Assessments
  • Final Examination

What you'll read

The real module and unit structure of ACC102, taken from the course material NOUN publishes.

Module 1
  • UNIT 1: BASIC ACCOUNTINGPage 6
  • UNIT 2: METHODS OF RECORDING ACCOUNTING DATA: MANUAL AND COMPUTERIZEDPage 13
  • UNIT 3: ACCOUNTING CONCEPTSPage 19
  • UNIT 4: THE ACCOUNTING EQUATION AND ITS COMPONENTSPage 25
  • UNIT 5 : BASIC DOCUMENTATION AND PRIME BOOKSPage 33
  • UNIT 6 : PRIME BOOKS, GENERAL LEDGERS AND THE JOURNALPage 39
  • UNIT 7: INVENTORY VALUATIONPage 45
  • UNIT 8: TRIAL BALANCEPage 67
  • UNIT 9: FINAL ACCOUNTS OF A SOLE TRADER 1: STATEMENT OF PROFIT OR LOSSPage 75
  • UNIT 10: FINAL ACCOUNTS OF A SOLE TRADER 2: STATEMENT OF FINANCIAL POSITIONPage 87
  • UNIT 11: END OF YEAR ADJUSTMENTS IN FINAL ACCOUNTSPage 97
  • UNIT 12: ACCOUNTING TREATMENT OF CONTROL ACCOUNTSPage 112
  • UNIT 13: BANK RECONCILIATIONSPage 128
  • UNIT 14: COST ACCOUNTINGPage 138
  • UNIT 15: ELEMENTARY BREAK-EVEN ANALYSISPage 145

One paragraph, so you can see how it reads

ACC102 · UNIT 1: BASIC ACCOUNTING

Accounting is concerned basically with accountability. The underlying purpose of accounting is to provide financial information about an economic entity. The information is provided, periodically, to shareholders and others connected with the organization to enable them decide the extent to which they want to continue to associate with the organization.

Start readingGet the original PDF, if you want it

What you should be able to do

  1. Distinguish between bookkeeping and accounting.
  2. Prepare financial statements for a sole trader.
  3. Perform bank reconciliations.
  4. Apply accounting concepts in practical scenarios.
  5. Analyze and interpret financial data.
  6. Calculate break-even points for business decisions.