A1 Accounts for Sole Traders and Partnerships

THIS COURSE IS CURRENTLY UNDER CONSTRUCTION AND CANNOT BE ACCESSED

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Part 1

1 Double entry bookkeeping

  • The books of prime entry
  • The ledgers
  • Preparing a trial balance

2 Journals

  • Opening balances, payroll, irrecoverable debts

3 Non-current assets

  • Property, plant and equipment
  • Funding property, plant and equipment
  • Purchases, depreciation and disposals
  • Part-exchanges
  • Organizational policies
  • The non-current asset register

4 Period-end adjustments

  • Accruals
  • Prepayments
  • Inventories
  • Doubtful debts

5 The extended trial balance

  • Preparing the extended trial balance

6 Control accounts

  • The use of control accounts
  • Control account reconciliations

7 Correcting errors

  • Types of errors
  • Identifying and correcting errors

8 Closing down ledger accounts

  • Period-end closedown of ledger accounts

9 The extended trial balance

  • Trials balances
  • Extending the trial balance

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