Book - Keeping Topics - Form One

 

TOPIC 1: Subject Matter 

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1. Subject Matter of Book Keeping

   • Define book keeping

   • Explain the role of Book-keeping

   • Explain the concepts of business entity

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TOPIC 2: Principles of Double Entry System

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1. Principles of Double Entry System

   • Describe what a business transaction is

   • Analyses a business transaction

   • Sort the changing values of things owned and owed

   • Determine account balances

 

TOPIC 3: Classification of Accounts

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1. Classification of Accounts

   • Differentiate between personal and impersonal accounts

   • Identify the possessions of the business

 

TOPIC 4: Trial Balance

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1. Trial Balance

   • Define the Trial Balance

   • Construct a Trial Balance

   • Give the advantages and short falls of the Trial Balance

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TOPIC 5: Stock

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1. Stock

   • Distinguish between stock at start and stock at close

   • Identify the treatment of stocks in the books of the business with particular reference to the final accounts

 

TOPIC 6: Elementary Trading Profit and Loss Accounts

 

1. Elementary Trading Profit and Loss Accounts

   • Describe what a Trading, profit and Loss account is

   • Determine the Gross profit or Gross Loss

   • Determine the cost of goods sold

   • Determine the net profit and the net loss

 

TOPIC 7: Elementary Balance Sheet

 

1. Elementary Balance Sheet

   • Define the balance sheet

   • Explain the Balance sheet Interpretation and Capital of the business

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