Basic Accounts

Introduction to basic accounts; the ledger system and cash account; double-entry in practice; the trial balance; stock and trading profit; the two revenue accounts; the balance sheet; credit transactions - suppliers' accounts, customers' accounts; purchases and sales returns; the dual-purpose cash book; bank reconciliation; petty cash; classification of accounts; final accounts of a sole trader; comprehension and interpretation; three-column cash book and cash discount; the general journal; capital and revenue costs; depreciation of fixed assets; bad debts; year-end adjustments; final accounts with adjustments; non-trading concerns - club accounts; introduction to partnership accounts. Appendices: invoicing and VAT; PAYE and NIC; the vertical presentation of final accounts; examination papers.