Cash Book: Simple Cash Book, Cash Book with Discount Column and Cash Book with Bank and Discount Columns, Petty Cash Book.Books of original entry: format and recording – Journal.Origin of transactions- source documents (invoice, cash memo, pay in slip, cheque), preparation of vouchers – cash (debit and credit) and non cash (transfer).Rules of debit and credit: for assets, liabilities, capital, revenue and expenses.Accounting equation: analysis of transactions using accounting equation.Bases of accounting – cash basis and accrual basis.Accounting Standards and IFRS (International Financial Reporting Standards): concept and objectives.Accounting principles: accounting entity, money measurement, accounting period, full disclosure, materiality, prudence, cost concept, matching concept and dual aspect.Fundamental accounting assumptions: going concern, consistency and accrual. Basic accounting terms: business transaction, account, capital, drawings, liability (Non – current and current) asset (Non – current tangible and intangible assets and current assets), receipts (capital and revenue), expenditure (capital, revenue and deferred), expense, income, profits, gains and losses, purchases, purchases returns, sales, sales returns, stock, trade receivables (debtors and bills receivable), trade payables (creditors and bills payable), goods, cost, vouchers, discount – trade and cash.Accounting: objectives, advantages and limitations, types of accounting information users of accounting information and their needs.
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