Elements Of Book-Keeping Ii

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.

13 weeks, about 26 hours in total. Yours will differ.

1. Week 1Module 1: Basic Accounting

   • Unit 1: Basic Accounting · 1.5 hours

     Read Unit 1: Basic Accounting, focusing on the historical development and regulatory framework.. Differentiate between bookkeeping and accounting.. Identify the qualities of good accounting information..

2. Week 2Module 1: Basic Accounting

   • Unit 2: Methods of recording data: manual and mechanical · 2 hours

     Study Unit 2: Methods of Recording Accounting Data: Manual and Computerized.. Compare manual and computerized accounting systems.. Understand the chart of accounts and account types..

3. Week 3Module 2: Accounting Principles

   • Unit 3: Accounting concepts · 2 hours

     Read Unit 3: Accounting Concepts, focusing on going concern and accruals concepts.. Explain the matching, entity, and materiality concepts.. Understand the time period and historical cost concepts..

4. Week 4Module 2: Accounting Principles

   • Unit 4: The accounting equation and its components · 2 hours

     Study Unit 4: The Accounting Equation and Its Components.. Understand the accounting entity concept.. Differentiate between revenue and capital expenditure..

5. Week 5Module 3: Recording Transactions

   • Unit 5: Basic documentation and prime books · 1.5 hours

     Read Unit 5: Basic Documentation and Prime Books.. Distinguish between cash and credit transactions.. Explain the purpose of books of prime entry..

6. Week 6Module 3: Recording Transactions

   • Unit 6 : Prime books, general ledgers and the journal · 2 hours

     Study Unit 6: Prime Books, General Ledgers and the Journal.. Record credit transactions in day books and post to ledgers.. Understand the use of the journal for non-routine transactions..

7. Week 7Module 4: Financial Statements

   • Unit 7: Inventory valuation · 2.5 hours

     Read Unit 7: Inventory Valuation.. Compute cost of sales and closing inventory using FIFO, LIFO, SAM and WAM.. Understand the effects of inventory on profit and financial position..

8. Week 8Module 4: Financial Statements

   • Unit 8: Trial balance · 1.5 hours

     Study Unit 8: Trial Balance.. Understand the purpose of a trial balance.. Identify errors affecting and not affecting the trial balance..

9. Week 9Module 5: Final Accounts

   • Unit 9: Final accounts of a sole trader 1: Statement of profit or loss · 2 hours

     Read Unit 9: Final Accounts of a Sole Trader 1: Statement of Profit or Loss.. Prepare a statement of profit or loss for a sole trader.. Understand the key terms and components of the statement..

10. Week 10Module 5: Final Accounts

    • Unit 10: Final accounts of a sole trader 1: Statement of Financial position · 2 hours

      Study Unit 10: Final Accounts of a Sole Trader 2: Statement of Financial Position.. Prepare a statement of financial position for a sole trader.. Understand the components of the statement..

11. Week 11Module 5: Final Accounts

    • Unit 11: End of year adjustments in final accounts · 2 hours

      Read Unit 11: End of Year Adjustments in Final Accounts.. Understand accruals, prepayments, provisions, and reserves.. Prepare final accounts with end-of-year adjustments..

12. Week 12Module 6: Control and Reconciliation

    • Unit 12: Accounting treatment of control accounts · 2 hours

      Study Unit 12: Accounting Treatment of Control Accounts.. Prepare debtors and creditors control accounts.. Understand the merits of control accounts..

13. Week 13Module 6: Control and Reconciliation

    • Unit 13: Bank reconciliations · 2 hours

      Read Unit 13: Bank Reconciliations.. Prepare adjusted cash books and bank reconciliation statements.. Understand the reasons for dishonored checks..

    • Unit 14: Cost accounting · 1 hour

      Study Unit 14: Cost Accounting.. Understand the usefulness of cost accounting.. Explain the cost build-up..