Introduction To Accounting

1. Define and explain key accounting concepts.
2. Apply the accounting equation to analyze business transactions.
3. Record transactions in prime books and the general ledger.
4. Prepare a trial balance and financial statements for sole traders.
5. Calculate depreciation using different methods.
6. Account for bad debts, accruals, and prepayments.

13 weeks, about 152 hours in total. Yours will differ.

1. Week 1Module 1: Introduction to Accounting Concepts

   • Unit 1: Accounting Concepts · 8 hours

     Read the introduction and objectives of Unit 1.. Study the definitions and explanations of key accounting concepts.. Review the going concern and accruals concepts, and their implications for financial statements.. Complete the self-assessment exercises to test your understanding..

2. Week 2Module 2: The Accounting Equation

   • Unit 2: The Accounting Equation and Its Components · 8 hours

     Review the accounting entity concept and its relevance.. Study the accounting equation and its components (assets, liabilities, capital).. Distinguish between revenue and capital expenditure.. Work through the illustrations to understand the effects of transactions on the accounting equation..

3. Week 3Module 3: Basic Documentation

   • Unit 3: Basic Documentation and Prime Books · 8 hours

     Differentiate between cash and credit transactions.. Explain trade and cash discounts.. Identify and describe source documents (invoice, debit note, credit note, cheque, receipt).. Explain the purpose of books of prime entry and list the main types..

4. Week 4Module 4: Prime Books and Ledgers

   • Unit 4: Prime Books, General Ledgers and the Journal · 8 hours

     Describe the transactions and documents recorded in prime books and the journal.. Enter credit transactions in day books or the journal.. Post transactions from day books and the journal to the relevant ledger accounts.. Complete the self-assessment exercise..

5. Week 5Module 5: Double Entry Bookkeeping

   • Unit 5: Double Entry and the General Ledger · 8 hours

     Explain the principles of double-entry bookkeeping.. Describe the format and contents of the general ledger and ledger accounts.. Distinguish between asset and expense accounts, and between capital, liability, and income accounts.. Enter cash and credit transactions in the ledger..

6. Week 6Module 6: Trial Balance

   • Unit 6: The Balancing of Accounts and the Trial Balance · 8 hours

     Balance and close ledger accounts (T accounts).. Describe the nature and purposes of a trial balance.. Prepare a trial balance from the ledger or a list of ledger account balances.. Understand how to correct errors in a trial balance..

7. Week 7Module 7: Cash Book

   • Unit 7: The Cash Book · 8 hours

     Define cash book.. Prepare a two-column and three-column cash book.. Explain the term "suspense account".. Differentiate between trade discount and cash discount..

8. Week 8Module 8: Petty Cash Book

   • Unit 8: The Petty Cash Book · 8 hours

     Explain the relationship between a petty cash book and the cash account in the general ledger.. Describe the format of a columnar petty cash book.. Explain the function of the analysis columns in a columnar petty cash book.. Describe the petty cash imprest system and its advantages..

9. Week 9Module 9: Financial Statements

   • Unit 9: The Final Financial Statements of Sole Traders · 8 hours

     Explain the purpose and structure of statements of profit and loss.. Explain the purpose and structure of statements of financial position.. Describe the nature of administrative expenses, selling and distribution expenses, non-current assets, current assets, current liabilities, non-current liabilities and capital.. Prepare a simple statement of profit and loss and statement of financial position from a trial balance..

10. Week 10Module 10: Depreciation

    • Unit 10: Depreciation and Non-Current Assets · 8 hours

      Describe the nature, recognition and valuation of non-current assets.. Discuss the nature of depreciation.. Describe the straight-line, reducing balance and sum of the years' digits methods of depreciating assets.. Compute the amount of depreciation using the different methods..

11. Week 11Module 11: Bad Debts

    • Unit 11: Bad Debts and Provisions for Bad Debts · 8 hours

      Explain the nature of bad debts, provisions and provisions for doubtful debts.. Distinguish between specific and general provisions for doubtful debts.. Show the entries for bad debts and provisions for doubtful debts in the journal, general ledger, statement of profit and loss and statement of financial position..

12. Week 12Module 12: Accruals and Prepayments

    • Unit 12: Accruals and Prepayments · 8 hours

      Explain the conceptual foundation of accruals and prepayments.. Describe the nature of accruals and prepayments and how the amounts can be ascertained in practice.. Show the entries for accruals and prepayments in the journal, general ledger, statement of profit and loss and statement of financial position.. Prepare simple final financial statements from a trial balance making the required adjustments for accruals and prepayments..

13. Week 13Module 13: Final Revision

    • Unit 13: The Financial Statement (With Adjustments) · 8 hours

      Review all units and key concepts from Modules 1-12.. Work through additional practice problems and exercises.. Focus on areas where you need further clarification.. Prepare for the final examination..

    • Unit 14: Financial Ratios · 8 hours

      Review all units and key concepts from Modules 1-12.. Work through additional practice problems and exercises.. Focus on areas where you need further clarification.. Prepare for the final examination..

    • Unit 15: Cash Flow Statement · 8 hours

      Review all units and key concepts from Modules 1-12.. Work through additional practice problems and exercises.. Focus on areas where you need further clarification.. Prepare for the final examination..

    • Unit 16: Cost Accounting · 8 hours

      Review all units and key concepts from Modules 1-12.. Work through additional practice problems and exercises.. Focus on areas where you need further clarification.. Prepare for the final examination..

    • Unit 17: The Framework of Cost Accounting · 8 hours

      Review all units and key concepts from Modules 1-12.. Work through additional practice problems and exercises.. Focus on areas where you need further clarification.. Prepare for the final examination..

    • Unit 18: Elements of Auditing and Investigation · 8 hours

      Review all units and key concepts from Modules 1-12.. Work through additional practice problems and exercises.. Focus on areas where you need further clarification.. Prepare for the final examination..

    • Unit 19: The Auditing Environment · 8 hours

      Review all units and key concepts from Modules 1-12.. Work through additional practice problems and exercises.. Focus on areas where you need further clarification.. Prepare for the final examination..