Financial Accounting - Basic/Fundamental Accounting Process

Study Notes

  1. Capital, Profit, Loss
  2. Drawings, Debtors, Creditors
  3. Income Expenditure Receipts Payments
  4. The need for accounting
  5. The Money Measurement Concept
  6. The Basic Purpose of Accounting
  7. The objective of accounting, Elements/Account Heads, Separate Entity Concept
  8. The Fundamental Accounting Equation
  9. Effect of a Transaction on the Accounting Equation
  10. Dual Entity Concept
  11. Types/Kinds of Accounts
  12. Illustration - Identifying the Types of Accounts
  13. Rules/Principles of Debit and Credit
  14. Illustration - Rules/Principles of Debit and Credit
  15. Journal - Recording a Transaction
  16. Journal - Illustration - Recording a Transaction
  17. Ledger - Posting a transaction from the journal
  18. Ledger Balancing
  19. Illustration - Ledger Preparation and Balancing
  20. Other Aspects relating to a ledger
  21. Trial Balance
  22. Designing an Organisations Accounting System
  23. Replacing Goods a/c with Purchases and Sales a/c's
  24. Purchase Returns and Sales Returns
  25. Simple Compound/Combined Journal Entries
  26. Complex Compound/Combined Journal Entries
  27. Net effect of two or more journal entries
  28. Subsidiary Books
  29. more ... not yet ready

Problems Solutions

  1. Money Measurement Concept
  2. Fundamental Accounting Equation
  3. Dual Entity Concept
  4. Types/Kinds of Elements/Accounts
  5. Rules/Principles of Debit and credit
  6. Journal - Recording a Transaction
  7. Ledger - Posting a transaction from Journal
  8. Trial Balance
  9. Simple Compound/Combined Journal Entries
  10. Complex Compound/Combined Journal Entries
  11. Accounting Cycle (Comprehensive Problem) - Journal, Ledger, Trial Balance
  12. ... Not Yet Ready
Author : The Edifier